As more and more businesses start to use shared services to outsource their IT operations, it is becoming more evident how beneficial these services truly are. The ever-changing demands and needs of business makes it challenging for organizations to provide their employees and customers with the services they need and want when they need them. Instead of investing in physical space and tech-heavy resources, businesses can now use their cloud computing services to enhance their organizations, or they can sell or rent their cloud services to create new and more lucrative revenue streams.
Cloud computing opens up a whole new world of endless possibilities for organizations to sell their software using SaaS platforms. While businesses can control pricing and adjust it as needed, many are struggling to take advantage of this opportunity. In order for businesses to realize the true potential of cloud computing, they need to be aware of the current trends in the industry. Here are 11 cloud revenue trends that businesses can use to increase their profits.
1. Agility
Instead of organizations creating new applications for each new client, cloud computing makes it possible to create one application that multiple clients can use. That same application is so agile that it provides a variety of services that can be tailored to the needs of each client. Thus, reducing the need for redundant operations, applications and processes, all of which take away from an organization’s time, resources and money.
2. Connections
No matter how you look at it, the use of cloud services creates connections. Connections provide organizations with the foundation they need to use those connections to their advantage. Organizations can then use these connections in a variety of ways to increase their revenue.
Organizations can also use these connections to bring certain parties together to collaborate and to capture hard to find talent, ideas and concepts that can be used to give their organizations a competitive edge.
3. SaaS Innovation
Regardless of the industry, software as a service platforms enable businesses to deliver the software and functionality their clients and customers need in a timely manner. Rather than to wait for a significant portion of their client base to want the same thing, Software as a Service makes it possible for businesses to increase their capabilities and functionality through innovation. Thus, enabling them to transform the face of their business faster and provide new services on demand.
4. On-Demand Access
Businesses everywhere have an increasing need to access and provide data on demand. When that data is not available, tons of revenue and business are lost. Cloud computing has become an economical, reliable and more secure solution for organizations to use to strengthen their infrastructures, increase their availability and to reduce their unexpected downtime. Organizations can run their applications on an as needed basis and save valuable resources.
5. Flexibility
In the world of business, flexibility is something that should not be overlooked at any time. As the need to increase revenue becomes more of a priority, the need to change or implement new business models and software increases. Once a company migrates to the cloud, they become more flexible and can grow and adapt accordingly to the constantly changing economy. Choosing, changing and adding new software to their infrastructure becomes much easier, less time-consuming and chaotic to implement.
6. Reduced Costs
Organizations are looking for the most economical software solutions. Multi-tenant enterprise software mitigates many of the expenses that are associated with integrating and outsourcing. There is a significantly lower cost of implementation and ownership that enables both large and small businesses to make their transitions seamlessly and immediately. Users can plan their budgets accordingly because they know what their expected costs are instead of having to estimate and allocate extra money into the budget from uncertainty.
7. Relations
Regardless of the industry, no business can succeed without communication. Whether this communication is within the organization or happens with the public or customers, businesses have to be able to communicate effectively to survive and grow. Capturing data that provides vital information about customer needs, habits and wants, enables businesses to provide better products and services. Businesses can also use communication to engage customers through a variety of platforms that weren’t available in the past, such as email marketing, targeted and real-time advertisement and social media.
8. Real-Time Data
As businesses continue to capture, create and use data, they are turning to cloud computing to provide them with different types of data. They are also using cloud services to organize, store and process data so that it is easily and readily accessible. Cloud computing provides organizations with countless ways to process and analyze real-time data so they can continuously create new strategies and business models.
9. Applications
Creating, testing and deploying new applications and technologies takes a lot of time and effort. Since innovation is the name of the game, the more innovative an organization is when it comes to the creation of fully functional applications, the bigger the advantage it has in the arena. Cloud computing makes it much easier for organizations to create and launch applications much sooner.
10. Mobility
The mobile market has forever changed the way that businesses reach out to both employees and customers. As more companies continue to create apps that facilitate interest and education, it is becoming more imperative for companies to integrate those apps with their infrastructure to profit off them. Since the apps are scalable, customers and employees can depend more on the products and services that organizations offer, thus a creating a demand for new and improved products and services in the future.
11. Globalization
With the arrival of cloud computing, there is no need for organizations to increase their operations in order for them to go global. Cloud makes it much easier for organizations to consolidate their operations and still function and expand in a global capacity. Globalization is crucial for organizations to establish themselves and create strongholds in their respective industries.
As the need for cloud services increases, companies that sell or rent their software can use that demand to create steady streams of profit. However, before bringing any product or service offerings to the table, organizations must be able to identify and implement cloud revenue streams into their marketing strategies.
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