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3 Ways The Cloud Can Drive Down Business Costs

Finance
Article
07/20/2015

The age of physical storage may be over. Whether it's Amazon Web Services, or Google Drive, more and more businesses are moving to the cloud. With seemingly limitless space, ease of access, and low cost, it's no wonder that cloud services are so popular.

But the cloud isn't just for storage; many great Software-as-a-Service (SaaS) providers are helping organizations cut costs and streamline their HR departments. Here are three ways the cloud can strengthen your bottom line.

1. Faster Recruitment

Finding and keeping great talent isn't easy or cheap. For small to medium size businesses, slow recruitment can drag employees away from their usual work and hinder your business growth.

With a plethora of online tools for recruiting, it should seem easier than ever before to find great talent. However, HR departments can come under stress when searching through multiple databases and a variety of platforms. It can be hard to keep track of the stream of varied information coming through, which can slow down your recruitment efforts and create growing, hidden costs.

A new level of information requires a new solution. Today, cloud technologies combine the information you receive from various platforms. Products like myStaffingPro help businesses create a holistic view of the recruiting process. By streamlining information, businesses make decisions more quickly, and reduce the costs of slow recruitment.

2. Customized and Affordable Accounting

Multiple experts agree: Cloud payroll is a huge benefit to small and medium size businesses. Many software programs previously cost hundreds of dollars at initial purchase. Upfront costs for cloud payroll services are a fraction of that amount. In addition, upgrades that used to cost businesses even more are now included in the subscription fees.

No longer do businesses have to worry about surprise upgrades or rising costs of their software: the fees are straightforward and predictable. Even better, these programs evolve with business, rather than taking expensive upgrades to catch up.

3. Reduce Your IT Costs

Technology support doesn't come cheap. Glassdoor reports the average salary of IT professionals in the United States at over $80,000. That's for one person, let alone a team of three or five. With earlier software and hardware requirements, at least one IT professional was required to keep your systems up and running, or you could hire an outside vendor, which also came at an additional cost.

Today, cloud services provide IT support as part of the subscription to their services. With professional expertise as part of the package, companies can spend less time worrying about hiring IT professionals that understand and work with their systems, and more time using their systems at maximum efficiency.

The cloud is no longer a trend: it's becoming critical for how successful businesses operate. It streamlines operations, makes software more affordable, and even allows an unprecedented ease in access. More and more businesses are finding that going to the cloud is smart for their bottom line, and helping them compete more effectively than ever before.

 

This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.
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