Do You Really Need Cloud Computing For Your Business?

  • 106% more likely to see revenue rise
  • MYOB Business Monitor
  • Gap in financial performance

According to a recent survey conducted by MYOB, Australia’s largest accounting software provider, small and medium business operators (SMEs) who use cloud computing and business website are more likely to have higher re

  • 106% more likely to see revenue rise
  • MYOB Business Monitor
  • Gap in financial performance

According to a recent survey conducted by MYOB, Australia’s largest accounting software provider, small and medium business operators (SMEs) who use cloud computing and business website are more likely to have higher revenue compared to others.

In their latest study involving 1,000+ SMEs they found out that only 16% use cloud computing in business and only 38% of the businesses owned a website. They also found out that those businesses who use the cloud were 106% more likely to see a revenue rise in the past year than those who don’t and those who own a website were 60% more likely to see revenue rise.

Moreover, the research has seen that there is a widening gap in terms of financial performance between business that are online-savvy and those who are a bit more tech-conservative. In general, those who use cloud computing are more likely to focus on customer retention and acquisition strategies, improve on the number or variety of the products and services they offer, pay their employees more and improve their prices and margins on products/services sold this year.

Similarly, businesses with their own website fared better compared to their less tech-savvy counterparts with observed increases in customer retention/acquisition, advertisements and increase in staff numbers to name a few.

Lastly, MYOB also asked the respondents who opted not to use cloud computing in their businesses on their reason for not using the technology. Top reasons include lack of training in using the service and the lack of awareness about cloud computing. For those who use the service, their top uses include file sharing, email, file storage and online banking.

Are you a business owner? Do you think you really need to use cloud computing for your business? Share with us your thoughts on this matter by leaving a comment below. You can also add us up on Facebook, Twitter, Pinterest and Google Plus or subscribe to our site for other tech news and stories.

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