How the Cloud Will Transform Business by 2020 ?

Written by admin on Jun 17, 2015

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Companies that don’t take advantage of cloud computing will be in the minority in less than six years. Here’s why.

The cloud can save you time and money, but it also has the potential to change the way you do business.

The percentage of small businesses using cloud computing is expected to more than double during the next six years, from 37 percent to nearly 80 percent, according to a study from consulting firm Emergent Research and financial software company Intuit.

While use of the cloud today is generally associated with the ability to reduce costs and improve efficiency, widespread adoption of this technology is projected to have a transformative effect on small businesses, but also on large companies and government organisations.

Here are four examples of small businesses that have fully adapted to the cloud:

Plug-In Players

These are businesses that plug into cloud-based service providers.

Hives

Hives refer to businesses that operate with employees working in different locations and companies that have increasingly flexible staff levels.

Head-to-Headers

These are small businesses that are competing with major firms for business, a growing trend in the U.S., thanks in part to the cloud, according to the Emergent report. Airbnb is one example, but the same trend is taking place with small financial advisory firms.

Portfoloists

Portfoloists are freelancers that rely on multiple income streams and use the cloud to manage these streams efficiently. Today, 30 percent of small business owners with less than 20 employees have at least one second job, according to Emergent. “We’re seeing more and more examples of this across the economy,” King says.

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