The cloud is a way to store and access data, software programs, and applications over the internet rather than over a local hard drive.
In other words, cloud computing involves delivering on-demand services over the internet.
The outsourcing of enterprise infrastructure, platforms, and software can lead to anything-as-a-service (XaaS).
In addition, technologies vendors use cloud computing to host their applications, tools, and services (XaaS) on usage-based, subscription-based, and fee-based payment models.
Because XaaS payments are flexible, small businesses can utilize these services to achieve digital transformation.
XaaS: How can small businesses benefit from it?
A top advantage of cloud computing for small businesses is that XaaS allows them to use digital applications and services only available to large enterprises before the advent of cloud computing.
Due to this, they were able to compete with large enterprises in highly competitive environments.
Increasing the number of customers
Small businesses can scale faster with XaaS, allowing them to access data and resources from anywhere through any device. Small businesses can improve customer service, performance, and client loyalty with XaaS.
Businesses can improve their customer bases and expand their markets at a lower cost by implementing the XaaS model supported by cloud technology and integrated software applications.
Streamline business processes
The COVID-19 pandemic is transforming business processes and models thanks to emerging technologies.
For example, retailers had to go online or hybrid to remain competitive and grow following the COVID-19 pandemic. Digital technology facilitated the transformation of the retail sector.
The XaaS strategy streamlines remote-based operations by enabling remote-based recruiting and empowering employees, working from home, conducting meetings remotely, and serving customers.
Depending on the changing demands, the company can quickly access new technologies without worrying about an upfront investment.
Investing in Opex instead of Capex
By utilizing cloud computing, businesses can access cloud-based solutions through a subscription-based model that allows them to pay only for what they use.
Capex, formerly capital expenses, has now become operating expenses, enabling small companies to accelerate digital transformation, traditionally reserved for large enterprises.
Invest in high-value projects
By utilizing a XaaS model, companies can streamline their processes and operations and free up IT resources for value-generating innovations.
Deloitte reports that 75 per cent of companies are using XaaS for more than half of enterprise IT. As a result, XaaS democratizes innovation by offering cutting-edge technology to more users, irrespective of size.
Small organizations can use XaaS to focus on transformational projects and leave routine tasks to cloud-enabled services with limited resources and low cash flow.
