The pace of doing business has increased exponentially for B2B companies in recent years. The rapidly-changing market demands mean you need to keep up with fast-evolving customer expectations.
The use of cloud business solutions has enabled many B2B organizations to leverage the latest technologies to stay relevant and competitive in the marketplace. If you're still on the fence about cloud-based software, here are some key benefits you can't afford to ignore:
Since B2B companies often handle large accounts with high volume and order value, the ability to scale up or down quickly as a response to customer needs is key to meeting market demand while minimizing overhead.
Most cloud software platforms are subscription-based so you can purchase the right amount of capacity to meet your current needs. You can add more functions or users as your business grows so you don't have to spend money on capabilities that you don't yet require.
Accessibility and Mobility
Cloud-based solutions allow employees to access the software from anywhere with an Internet connection so they can stay productive no matter where they are. This is particularly important for B2B companies with sales reps that spend a lot of time on the road.
Such accessibility also allows you to take advantage of a remote workforce, so you can access to a large talent pool while reducing overhead and operating cost.
Collaboration and Communication
A web-based platform provides a centralized location on which your employees can share files, exchange information, and communicate with each other in real-time.
Team members can collaborate seamlessly to improve efficiency, reduce delays, and minimize errors. For example, you can prevent costly mistakes due to versioning issues since files and data are updated in real-time so everyone will have access to the latest information at all times.
Low Upfront Investment
When deploying an on-premise software application, you need to invest in expensive hardware (e.g., servers) and software licenses. In addition, you'll have to hire a team of IT professionals to implement the solution. The high upfront cost could be a sizable hurdle for B2B companies with tight cash flow.
On the other hand, there's little or no upfront cost to get started with a cloud platform. You don't need any additional IT infrastructure other than the devices that employees use to access the software online. In addition, most cloud providers offer extensive onboarding support so you can get up and running quickly.
Minimum Ongoing Maintenance Cost
All the ongoing maintenance activities, such as security patches or software upgrades, are covered by the subscription fee when you use a cloud-based solution. You don't have to worry about the cost and labor associated with keeping the software up-to-date, adding new features, and repairing or replacing hardware.
As such, you don't need to hire a large IT team for ongoing maintenance. In addition, the subscription fee offers the predictability and visibility you need to better control your budget and optimize cash flow.
Access To the Latest Features
Whether it's customer service, eCommerce, payment processing, back-end operations, or security -- you need access to the latest features to optimize cost-efficiency and maximize the ROI of your IT investment.
Reputable cloud providers have a product development roadmap and are constantly upgrading their platforms so customers will have access to the latest features. You don't have to worry about researching new technologies, implementing upgrades, and the associated IT costs.
Today's B2B customers expect a seamless and convenient purchasing experience supported by the latest technologies. When you use an on-premise software solution, the frequent upgrades could get prohibitively costly.
On the other hand, a cloud provider has a dedicated team of experts to ensure that it's incorporating the latest industry best practices into the platform so the customer interface and workflow meet fast-evolving customer demands.
Uptime and Recovery
Downtime is very costly to businesses and especially in the competitive B2B market, your customers could switch to your competitors if there's an interruption in your service.
Cloud solutions have multiple built-in redundancies in their systems, as well as a comprehensive backup and recovery plan, to minimize downtime and prevent data loss.
Data breaches are costly for B2B companies -- not only will you be affected by the immediate expenses associated with data loss and fines (e.g., if you're in a highly regulated industry) but also long-term impacts such as damage in reputation, eroded trust, and loss of recurring customers.
Cloud solution providers have dedicated cybersecurity experts to ensure that their platforms are safe and compliant at all times so you don't have to spend a hefty budget on IT security.
There are many cloud business solutions designed for B2B companies to meet different budgets and business requirements. For example, you can choose from a public cloud, private cloud, or hybrid cloud solution based on your objectives and IT strategy.
When selecting your cloud deployment option, make sure that it's set up so you can get the highest ROI by streamlining operations, reducing overhead cost, improving customer experience, and driving sales.
- Cloud bases software are scalable and can fit the size and demand of your company
- There is very little upfront cost when it comes to using a cloud-based business solution
- Cloud bases solutions have reputable cybersecurity which would ensure your data would be in good hands
- Using these services can help your business increase it’s ROI and helps it operate more smoothly