With the fluctuating market scenarios and changing customer demands, it becomes imperative for businesses to stay competitive in the market. When it comes to staying a step ahead of the competition, businesses should transform the way they operate, embrace modern tools and technologies, modernize legacy IT assets, and upskill their resources. It might be a nerve-wracking task for businesses, particularly Startups or SMEs to overcome all the aforementioned challenges in a quick span of time. Therefore, it is considered wise to adopt a robust solution that can help them overcome most of these problems. Cloud is one such common enabler for both SMEs and large enterprises to embrace digital transformation and remain competitive in the market.
Cloud computing isn’t something new in the business realm. It has been around for years and enterprises that have embraced cloud computing have confirmed the efficacy of this modern solution. From a practical standpoint, embracing cloud computing is similar to getting married. For some, it can be a great life-changing decision, while for others, it might be the worst decision of their life since they end up ruining everything. However, if you take in finding the right life partner, there are chances that you'll live a happy life forever. Similarly, when it comes to making a move from on-premise to the cloud, it is critical to choose the right cloud database migration partner. Having a seasoned cloud professional by your side will make the cloud migration journey hassle-free with zero data loss and minimal downtime.
Today, more and more enterprises are embracing the cloud and moving away from on-site IT infrastructure and legacy servers to ensure business continuity, reduce high capital expenditures, accelerate time-to-market, lower data security risks, etc. According to a recent report, the cloud migration services market is predicted to reach 448.34 billion by 2026. It will grow at a CAGR of 28.89% during the forecast period 2021-2026. Furthermore, a report by Gartner states that by 2025, over 50% of the global enterprise IT spending will be shifted to the public cloud. If you are also planning to invest in cloud migration solutions, it’s important to know the benefits offered by this emerging tech solution. Let’s take a quick look at the benefits of moving away from legacy IT infrastructure and adopting cloud computing.
1. Cost Savings
One of the key reasons why businesses are migrating the workloads and applications to the cloud is that it allows them to save 30-50% on IT costs. In other words, cloud migration enables businesses to do away with managing traditional IT infrastructure that demands buying, storing, and upgrading data centers and local servers. Not to mention, on-site data centers and local servers require a huge CapEx, which increases YoY if you're digitizing your solutions at scale.
With cloud computing, businesses can convert CapEx into OpEx. Instead of buying and maintaining expensive IT hardware, businesses can opt for a pay-as-you-go pricing model that cloud vendors offer, wherein, they have to pay only for the cloud computing services they use or need. Besides this, businesses can also cut down on the costs incurred due to onboarding seasoned IT professionals for managing data centers and servers. This, in turn, enables businesses to reduce their total cost of ownership (TCO).
2. Data Security
Data is the most valuable asset for businesses and with cloud migration, you can ward off most of the data security vulnerabilities that are found in on-premise data centers and local servers. Unlike traditional network systems, the cloud is encrypted, which means all the data stored in the data is completely safe and protected. Not to mention, cloud service providers have stringent encryption policies and SLAs in place that guarantee data protection from potential cyber-attacks or disasters. Furthermore, cloud service providers conform to the latest industry standards and data regulations.
3. Better Collaboration
Another advantage of making a shift to the cloud is that it improves business agility, reduces infrastructure complexity, and enhances workforce collaboration. When applications or workloads are migrated to the cloud, your team can not only access but also edit, share, and send the business documents or files from any remote location, resulting in improved collaboration and productivity.
4. Scalability
With the cloud, you get the flexibility to pay only for the computing resources you need or use. This enables businesses to scale up or down resources tailored to their business requirements. Simply put, making a move to the cloud offers unmatched scalability to businesses.
Summing Up
From the above, it is clear that a cloud-first strategy is the need of the hour for businesses of all sizes across industry verticals. Today, businesses are aggressively moving away from legacy IT infrastructure and embracing cloud computing since it offers a host of business benefits besides cost savings. If you also want to harness the benefits of cloud computing, it’s considered wise to partner with a seasoned cloud migration expert.
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