Cost Efficiency
Traditional Information technology systems rely on software that puts many overhead costs on companies. Added to the purchase prices, the licensing fees for multiple users can prove to be very expensive for the establish. On the other hand, cloud computing can significantly lower a company’s IT expenditure as it comes at a much lower cost. In addition, many cloud services are offered through pay as you go formulas and scalable solutions which enable companies to perform cost control while maximising service benefits.

Storage
One of the major benefits of the cloud is that storage space on the cloud is virtually unlimited. It is very easy to increase allocated storage space and it can be done very conveniently. So companies do not need to worry about running out of storage space because more space is always available.

Security
Another major benefit of cloud services over traditional computing is the added value of security. When relying on cloud-based services, companies no longer require complex disaster recovery planning. Cloud computing providers take care of most security related issues, and they do it faster. When everything is stored in the cloud, data can still be accessed no matter what happens to a machine.

Flexibility & Ease of Access
Since the data is stored on the cloud, data access becomes more flexible. This means that you no longer have to be limited to a physical location to be able to access data. In this respect cloud computing allows for flexibility of the workplace as the company data can be made available to anyone who should have ability to access it no matter where they may be. Also, Cloud computing allows employees to share files, collaborate on projects and maintain close contact, which can improve team efficiency and help team members work together more effectively.

Quick Deployment
One of the most important benefits of cloud computing that may surprise you is that it gives you the advantage of quick deployment. Once you have decided to adopt this functional technology, your entire system can be fully functional in a matter of a few minutes. Here it must be noted that the amount of time taken here will depend on the exact kind of technology that you need for your business.

Competitiveness
The major benefit of cloud computing especially for small and medium sized enterprises is that it offers access to superior enterprise technologies to these businesses allowing them to fully grasp access to great technologies that can be made useful for the business. This creates a competitive advantage for businesses in a crowded market that is always lead by technology trends.