Cloud Technology and its Implications for Entrepreneurship 

Cloud Technology

Today for entrepreneurs it is easier to be effective using Cloud technology. Cloud computing has redefined how businesses compete over the last decade. Cloud computing lets your business access and store information on an external platform. We use cloud computing in our day-to-day life via social media interactions, online transactions, and when we check our email.

Advantages of Cloud Technology

1. Flexibility

It offers great flexibility for accessing files and data regardless of your location. You can quickly and easily conduct your business with the help of the cloud by connecting through a virtual office.

2. Reduce Cost

You know that you don’t require physical or hardware storage when we are using the cloud. You won’t need to hire any additional IT professionals for maintaining the cloud. For example, by switching from paper to the use of mobile, you can save as much as $12,000 (INR 1Cr.) per year for a field team of five people.

3. Increased Productivity

  1. You don’t need to deal with IT problems internally. The administrators of the cloud will take care of your Infrastructure and IT’s technology.
  2. Your business will be able to be more competitive because the cloud speeds up some processes while making others more agile.
  3. Using cloud technology you each will be able to collaborate with each other better.

Use of Cloud Technology

  1. You know that when your business grows, you will probably hire a few staff members. There is no reason you need to rent office space for them though. They can easily work remotely, at least until you know for sure that you are able to afford to pay their wages or rent office space.
  2. This tech makes resource sharing extremely easy. Using tools like Google Drive and Dropbox, you can have all your employees’ access and use it all at the same time.
  3. You can use Cloud-based phone systems for small businesses because it cuts down on time and money.

Implications of Cloud Technology on Entrepreneurship

  1. Cloud technology is being adopted across most industries today but, some industries are still concerned that they are putting their business at risk by moving to the cloud.
  2. Constant changes are necessary in order to survive and cloud computing is part of today’s ever-changing IT environment.
  3. Moving to the cloud will impact the entire IT department and its components, which he considers the architectures, services, assets, and resources; as well as the dynamic projects that are always changing the four key components.

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