How cloud computing can empower SMBs in Tier II and III markets and boost India’s economic growth
Cloud solutions provide mobile access to information for SMBs and helps them to be more competitive within their market. Up to 60 percent of business owners will depend on the cloud for hosting data by 2022, according to a research by Gartner.
Cloud computing has revolutionised the way businesses are using technology. It provides a simpler and more effective way of running and adapting business operations to evolving market conditions.
Cloud, instead of storing data and application on a single computer, stores them on several different devices, but all are connected and function as one.
For small and medium-sized enterprises, innovative cloud-based technology has made it possible to optimise their external and internal strategies. Small businesses, as well as newly setup startups, can’t afford a big IT budget, unlike large businesses.
Fortunately, there is an option for buying cloud software that can be easily managed, updated, and debugged, making it the perfect way to meet the goals of running a successful business.
The cloud is one of the key drivers of socio-economic development in India, according to a recent NASSCOM survey.
Companies of all types have been reaping the rewards of cloud services these days. However, small and medium-sized companies are also apprehensive about using these facilities in Tier II and Tier III markets.
The cloud provides mobile access to information for small businesses and helps them to be more competitive within their market. Up to 60 percent of business owners will depend on the cloud for hosting data by 2022, according to research by Gartner, roughly doubling the figures from 2018.
Here are some digital measures and cloud solutions small businesses can adopt to improve India’s socio-economic situation.
Moving to online platforms
There are a lot of initiatives like digital payments to empower and lift small businesses. This will be leveraged by more SMBs to continue to grow faster.
Digitally-engaged SMBs are rising twice in relation to their offline counterparts, according to a Google-KPMG survey. Small companies have been able to open new markets across the digital room. However, there are a staggering number of small and medium-sized firms sitting offline.
Leveraging the power of Artificial Intelligence
Cloud development is being made possible by the rise of emerging technologies, especially Machine Learning (ML) and Artificial Intelligence (AI). In fact, the underlying force that empowers businesses to tap into AI capabilities is cloud computing.
Businesses can capture, store, process, and analyse the vast data volumes necessary for AI tools and applications using the cloud. As a result, they can more reliably forecast patterns and use data analytics to turn themselves into a smarter business.
Ensuring data security
Since cloud storage solutions are highly flexible in nature, they also boost the ability of small businesses to assess and optimise their growth. It makes it possible for them to anticipate and evaluate the usage of resources to maximise possibilities.
By defending against hardware failures, cloud storage maintains backups of all critical and sensitive data. It also enables organisations to incorporate all different application specifications into one multi-application.
Enhancing the IT skill set and expertise
One of the greatest benefits and biggest prospects for India to grow in the global cloud adoption ranking is the abundance of IT talent. It needs access to professional knowledge with technological and business experience to migrate to the cloud for an overall digital transformation.
Cities like Mumbai, Pune, Chennai, Delhi, Bengaluru, and Hyderabad fall under the Tier I market. In order to truly tap the socio-economic development potential of the cloud computing sector, there is a need to extend IT skills set up in Tier II and Tier III cities and introduce technology education to rural areas.
The next step in India’s cloud computing industry, beyond Tier I cities, has all the potential to accelerate socio-economic growth across India. The pace of cloud technology adoption in the country can be accelerated with IT skill set training and new innovation models.
It’s an opportunity to further develop India’s position as a global innovation center. It’s also a chance to further enhance India's role as a global innovation hub.
To completely leverage cloud technology as a growth engine for socioeconomic opportunities for all, we need to carry IT knowledge to all corners of the nation.
The need for cloud
Cloud computing allows SMBs to add resources that keep up with the company's development, as and when needed. Cloud makes it easier to keep working in a crisis or to shift the engineering team from reactive thinking to strategic thinking, more realistically.
No matter what, it’s a simple win to look for ways to get cloud computing more involved in SMBs.
Edited by Megha Reddy