The COVID-19 pandemic and the resultant lockdown have transformed how businesses function. The present situation has forced companies to adapt to the new normal. As a result, enterprises are frantically moving their workload to the cloud. This has drastically increased the demand for cloud computing. According to Deloitte India, the cloud industry has grown at a CAGR of 24% in the past three years, a figure that is likely to be surpassed this year.
As per industry experts, the public cloud industry is set to get a boost, as companies across sectors are forced to depend on remote working amid the restrictions triggered by the pandemic and require more cloud computing power.
Let us look at key reasons for moving business-critical workload to the public cloud:
Cost savings – Moving to a public cloud is a way for companies to cut down IT operations costs. Essentially, they are outsourcing these costs to a third party who can handle them more efficiently. Also, public cloud cost less than private cloud because of the pay-per-use model, which allows flexibility of usage to enterprises. Since on a public cloud, the infrastructure costs are shared across multiple users, the cloud providers optimize the hardware needs of its data centers and offer the services at lower costs.
Time Saving – Enterprises that use public clouds need not worry about managing their cloud hosting solution. Their cloud service provider assumes the responsibility of managing and maintaining their applications and data on the cloud. This results in saving of time as enterprises do not need to go through the lengthy procurement processes and wait around for internal IT to install operating system, configure and assemble servers, or establish connectivity.
No Long-Term Contracts – Moving to the public cloud works best for enterprises that are not interested in getting into long-term contracts and commit to a certain storage or bandwidth capacity. For such enterprises, public cloud is the best solution as it offers pay-as-you-go model that makes the overall engagement extremely easy and hassle-free.
Economies of Scale – When compared with private cloud, public cloud offers huge economies of scale. While using public cloud, enterprises can be sure that the infrastructure is optimally used and the inevitable peaks and drops in the workloads are better factored and managed. Businesses that have peak seasons or different seasonal staffing demands can benefit from moving to the public cloud as it allows them to upscale the capacity for the seasonal business peaks, without making permanent investments and downsize during the slack season.
Business Agility – The current business environment demands enterprises to be quick and dynamic. They need to continuously evolve and improve their processes, tools, technologies, and policies as per ever-increasing customer expectations. With public cloud, businesses experience simplified internal operations, better delivery and collaboration, faster rollouts of new business initiatives, and improved data gathering and analysis ability. The public cloud enables businesses to continually align their business requirements with the latest technological advancements.
Ubiquitous Access – With the outbreak of COVID – 19, enterprises need to build virtual workplaces. Cloud computing is one of the essentials for seamless remote working model. It enables employees to access business applications and data securely from remote locations.
Also Read: 5 Reasons to Choose Oracle ERP Financials Cloud
Improved Security – Public clouds undergo penetration testing regularly and are held to tougher standards than on-premises solutions and private clouds. Furthermore, continuous security innovations happen for the public cloud based solutions. Through this, enterprises get access to highly skilled teams of IT professionals solely managing their cloud infrastructure. The result is a highly secure environment wherein their applications, systems and data is safeguarded.
Sharpens focus on Technology Innovation: The public cloud enables internal IT teams of an enterprise to focus on innovation instead of being bogged down by maintenance. With public cloud-based solutions, businesses do not have to worry about keeping up with technology upgrades or maintaining best cyber security practices, which allows them to devote more time and resources to work towards enhancing their core competencies.