According to a few well-calculated predictions by Cision, the global cloud market will grow by $461 billion dollars by the end of the last fiscal quarter of 2025. Likewise, a Compound Annual Growth Rate (CAGR) of 17.5% is expected by the end of the 2025 financial year. One of the most significant reasons for such a colossal shift is the claim that cloud services save businesses a lot of money. But the question arises, is there actually truth behind these claims made by cloud service providers?
With businesses, cost-saving factors are prevailing, however, some cloud services are also charging hefty amounts from enterprises and businesses, thus equalizing the savings to some extent. Read our blog to learn about what’s really happening to determine whether it’s a wise decision for your organization to move to the new era of cloud technology or continue to utilize a traditional datacenter.
When migrating to the cloud, it takes time for most enterprises to evaluate, review and migrate all the data. In that duration, the cost could be high up-front based on the existing security stack and PaaS providers. To ensure a seamless transition, discuss all the technicalities with your IT department and review all systems your team has and connect with your PaaS providers. Additionally, during the initial migration, you might have to pay for two systems at once until your data is officially moved from the old system. Just make sure your team understands that the double charges will be eliminated shortly after the migration is complete.
According to InfoSecurity Magazine, only 16% of enterprises and businesses have proper security tools to manage the cloud spectrum. Amazingly, it was 22% a few years back, which shows a decrease in available tools. It means, nowadays, 84% of such organizations are claiming that either their security systems aren’t capable enough or have limited functionality required for proper management of cloud services. Companies that often claim this, might not be aware of what their tools can actually do or could be utilizing the wrong tool. If your team falls in this boat, it might make sense to bring in an outside cloud expert to maximize your functionality and management.
There might be chances that you will be already using some sort of cloud services at a certain level but now looking to expand its spectrum. If that’s the case, you need to evaluate your previous and newer cloud technology with certain standards in mind to make an optimal choice for your business needs. By reviewing what you have and where you’re going before you move, you may find that your existing software can be minimized, completely removed, could still be used or you may even have multiple platforms that do the same thing. In the beginning evaluating the systems and their function takes time, but that initial review is worth it in the end when your business sees the lower bottom-line.
Migrating from one cloud service to another can cause few additional issues, but this process is way simpler than moving from a physical system to a cloud service. Initial migration can also cause some upfront charges, but now most of the cloud service providers are offering no upfront on a one-year commitment. Even additional discounts are added to your pocket for a longer duration commitment.
Before you pick a cloud platform, compare the cost, benefits, support and other tools that they provide. It is important to ensure that the cloud service you choose is the right one for your data and business. Consider both the long-term and short-term impacts of migration.
Undoubtedly, the era of cloud services continues to increase. Sooner or later, every business will be moving towards these services, so it’s always preferable to join hands with a trustworthy partner. Cloud computing services are way cheaper than traditional physical data centers and IT systems but all it needs are correct decisions at the right time. A few organizations that have shifted to cloud services aren’t performing well just because they didn’t make the right choices, make sure you’re not one of them.
Overall, cloud technology can save your organization money in the long-run, if you migrate and manage the right way. Evaluate your current systems, review the benefits cloud technology will give your organization short-term and long-term, build in higher costs for the initial migration and talk to an expert if you have questions.