How to combat inflation with Cloud implementation (Guest blog from Base)
Author: Hannah Cross, Content Marketing Executive, Base
With the recession looming, concerns for rising energy costs, inflation, and the pressure for digital transformation and hybrid working, enterprise businesses are holding off on making significant investments on in-house technology as they wait for the economy to improve.
However, with cloud-based solutions, there are flexible, scalable options that no longer require large capital expenditure. Costs are based on operational subscriptions and cloud consumption, without having to commit to upfront capital investment. Savings are also made on procuring, developing, hosting, maintaining and supporting in-house, on-premises infrastructure because these are managed by the cloud service provider. Therefore, reducing IT budgets can incentivise companies to switch over to cloud during economic uncertainty.
By implementing the cloud for your business, you can reduce the cost of investing in new hardware. A survey from Tech Republic showed that nearly 95% of respondents said use of the cloud would reduce both setup and maintenance costs, and nearly 50% stated that their IT costs could drop up to 50% by implementing cloud applications and infrastructure.
Whether it’s through cloud storage or media asset management, the switch to the cloud will save you money and help you focus your investment on your core, revenue-generating activities.
Maintaining, updating and replacing equipment is the responsibility of the cloud provider. The cloud provider is also responsible for software patching and strict security of the technology stack. This eliminates the costs of running an in-house data centre, which takes up space, energy and significant time for staff. Your budget shifts from capital expenditure to a simplified operational cost, reducing investment in depreciating assets that will need updating and replacing.
If you already work with one of the major cloud providers, you know that optimisation is key. Examine your current bill and see if you are making any cloud spending mistakes such as oversizing resources, failing to track resources or incurring extortionate network egress fees and see if there are any unnecessary or idle resources. You may also want to consider putting your data into cold storage, such as deep archive storage and long-term backup.
Overall, remember to keep these points in mind when thinking about implementing cloud-based solutions for your business. Whether it’s through cloud storage or media asset management, the switch to the cloud will save you money and help you focus your investment on your core, revenue-generating activities.
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