Home - Tech - 6 Business Benefits Of Cloud Storage
6 business benefits of cloud storage

6 business benefits of cloud storage

Over the years, an increasing number of businesses have switched over to cloud storage. Cloud storage involves storing digital data on servers in off-site locations that are primarily maintained by third-party providers. They are responsible for securing, hosting, and managing the data stored on its infrastructure. Compared to conventional forms of data centers, cloud storage comes with tons of advantages. Here are some of the well-known business benefits of cloud storage.

Usability and accessibility
Some primary benefits of cloud storage for a business are the usability and accessibility features. The usability generally comes from the intuitive and easy-to-use user interface. Most cloud storage applications have a simple drag-and-drop feature that makes it easy to upload a file on the online server. No expert training or knowledge is required. In addition, the accessibility benefit comes from the fact that the files can be accessed from anywhere, as long as there is a reliable internet connection.

Cost-efficient
Cloud data storage has helped numerous organizations lower their overall internal expenses. This is possible by doing away with the expenses involved in the purchase, installation, and maintenance of internal resources to support, manage and store data. The cloud storage vendor takes care of everything. All the business needs to do is to sign up with an affordable plan. The end cost will be far lesser than what would have been spent in setting up in-house storage.

Security
Many businesses choose to adopt cloud storage because it safeguards the data by using redundant servers. So even when one data center breaks down, the data can be managed by other data centers. By replicating the data across several servers, the cloud storage ensures safety and security. It is highly unlikely that all the data centers will collapse or break down at the same time. In any case, backups of the data are always present across different geographical locations wherever the storage provider has their data centers.

Mobility
Being mobile is one of the top ways for businesses to improve productivity and efficiency. With cloud storage, this can be done by accessing data online from wherever employees are located. Anything required, from agenda items to travel plans, meeting times, and project deliverables, can be accessed instantly. This feature allows everyone in the business to adapt and respond to changes effectively.

Flexibility
Another benefit of cloud storage offered to businesses is the flexibility of access. This means the data on the cloud can be accessed from any device and location. Most cloud storage applications are compatible with nearly all operating systems. Besides, employees of the business can use the application with a phone, tablet, or personal computer, no matter where they are.

Collaboration
Cloud storage enables a business to encourage collaboration among employees. Whether collaboration is required among teams of the same department or inter-department, cloud storage makes it seamless to work together. Teams can easily join in to work on projects and share data from different locations. Moreover, if there are team members working on-site, they send real-time data and updates directly.

Latest Articles

5 mistakes to avoid when investing in a high dividend ETF
finance

5 mistakes to avoid when investing in a high dividend ETF

Exchange-traded funds (ETF) have been gaining popularity in the investment sector for some time now. Along with mutual funds, they have been one of the most preferred investment options among investors. With investors having pumped in billions of dollars in ETFs by now, these funds sure seem like a lucrative investment avenue. However, financial experts suggest treading this path carefully so as to avoid unforeseeable losses. Here are a few mistakes that you can avoid while investing in high dividend ETFs: Overlooking long-term investment Looking at long-term goals is the golden rule when it comes to any type of investment. However, seasoned investors invest in ETFs on a short-term basis through a type of trading called intraday trade. This type of trading allows the investors to buy and sell stocks and other investments on the same day. However, if not thought out carefully, investing in high dividend ETFs through intraday trading can result in lower returns and higher trading costs. Buying an ETF simply based on its name This is one of the most common mistakes people make when investing in high dividend ETFs. Investors may think that an ETF’s name provides an insight into its investment reach, i.e., whether the ETF has local or/and global investors. However, this is a ploy that ETF issuers often use to lure investors. Investing in an ETF based solely on its name can lead to disastrous investments. So understand an ETF’s underlying holdings and market objectives before making an investment. Investing in the wrong ETF Like every investment, almost every ETF is vulnerable to market trends and economic slowdowns. However, this does not mean that the particular ETF has failed. When an ETF liquidates, you might still receive some money (termination and other fees might be levied). But this may take a while and you may lose out on the time that could have otherwise been utilized to make other investments.
How to qualify for a reverse mortgage
finance

How to qualify for a reverse mortgage

A reverse mortgage provides the elderly access to equity in their homes and supplements their income. With its flexible repayment option, it gives homeowners more control over their money. However, the government has laid out strict rules and guidelines concerning reverse mortgage eligibility criteria. So, if you’re considering a reverse mortgage, read on to know the reverse mortgage eligibility criteria and the types of reverse mortgages. Reverse mortgage eligibility criteria The first criterion for a reverse mortgage is that the primary homeowner must be at least 62 years of age. If your spouse is under the age of 62, you might still be eligible if you meet other reverse mortgage eligibility criteria. If you’re not 62 or older than 62, then you won’t qualify for a reverse mortgage even if you satisfy the criteria mentioned below. You must be the primary resident of the home you’re seeking a reverse mortgage for. Note that vacation homes or rental properties do not qualify. You must either entirely own the house or have at least 50% equity in it. If you have any mortgage balance remaining while applying for a reverse mortgage, you must be in a financial position to pay off that balance. You must not be late or overdue on any debt from the federal government. This includes income taxes and federal student loans. If you have to pay off such debts, you may very well use the money from the reverse mortgage loan to settle these debts. You must already have enough money, or be willing to use the money from the reverse mortgage loan to pay property taxes, insurance, and home maintenance and repair costs. You must meet a Department of Housing and Urban Development (HUD)-approved reverse mortgage counselor to understand how a reverse mortgage works. During the counseling, the counselor will review your eligibility for a reverse mortgage loan and inform you of the financial ramifications associated with a reverse mortgage.
5 benefits of opting for debt settlement
finance

5 benefits of opting for debt settlement

Debt settlement can be a financial lifesaver for many. Managing debt is quite a difficult task. With every advancing payment due date, one may feel their finances getting tighter and tighter. Between paying for a house mortgage, student loans, credit card debt, personal loans, and many other debts, it is quite common to miss out on paying one payment. Although it may not seem like a big problem initially, this is not good for financial health in the long term. This is where debt settlement comes in. There are multiple benefits to availing debt settlement offered by some of the top 10 debt settlement companies. No more bills With debt settlement, no more bills will be incoming in the mailbox. Debt settlement results in the closure of a debt account by the creditor. In such cases, one will not be able to use their credit cards again. However, this can be beneficial since it will prevent further debt in the future. With debt settlement, there is a permanent erasure of debt. No more collection calls With mounting debt, the calls of creditors are always incessant. If one if falling behind on too many bills, they are bound to be subjected to creditor calls throughout the day. This can add to the stress of not being able to clear away all the dues. Plus, many collection departments are not known to be kind on calls. When a debt settlement is opted for, it will stop the incessant calls from the various collection departments. No bankruptcy risk Rather than filing for bankruptcy, debt settlement is a better option. With the bankruptcy filing, credit score can deteriorate quite significantly. In some cases, the credit score has slid down by nearly 200 points, taking a good credit score to bad credit score. The credit score lowers with debt settlement too.