The word cloud has become one of the most important buzzwords in technology of the last years: if you type “cloud technology” into Google, your search will have over 130 million results. Do you need more prove? The worldwide public cloud service market will grow to approximately $247 billion this year according to the Information-technology research firm Gartner.
But how much do you really know about the cloud and the advantages that having a cloud-based solution brings? And as a manufacturer, why should you choose a cloud-based CRM or Configure, Price, Quote software? We will give you five reasons to do it.
If you are still unsure if this is relevant for you, consider this impressive number: Organizations actively using cloud, mobility and big data technologies are experiencing up to 53% higher revenue growth rates than those that have not invested in these technologies (according to Dell Global Technology Adoption Index).
Yes, you read well: 53% higher revenue growth rates. This gives you a better idea on what incredible advantages a cloud solution could bring to any business. Let’s see it in detail.
1. Cost-effectiveness – Keep Operational Expenses To A Minimum
Forget what you have probably read somewhere: cloud technology is very often much more cost-effective than in-house solutions. Whether you are a small, medium or large company, you will save costs by not having to maintain on premise infrastructure. Cloud services help to keep operational expenses to a minimum and therefore contribute to better margins. Cloud CPQ software is no exception, and its price-performance ratio a good reason to go for it.
2. Scalability – Your Cloud CPQ or CRM Grows With Your Business, Anywhere
Cloud-based solutions are by nature scalable. This is a huge advantage for companies that are unsure about what their needs are, for example in terms of number of users for the software. With the cloud, these problems are solved since the system adapts instantly to the business needs, and not the other way around. This is also a source of a clear competitive advantage, since the allocation of resources is made in a more efficient way. It also doesn’t matter if your sales operations are in Europe and the US and your engineering experts are in China. If you choose the right cloud platform, data centres around the globe will power your business operations.
3. Security – Improve Your Data Protection
Security is a major concern for every organization and especially when it comes to cloud computing solutions. The example of the massive ransomware attack of last May 13th is still in everyone’s mind, and it may seem that cloud-based software could be more subject to attacks. But in fact, it is not, since the cloud host’s biggest responsibility is security and will dedicate all the necessary resources to protect the data. Moreover, according to RapidScale, 94% of businesses saw an improvement in security after implementing cloud solutions.
4. Collaboration – Enhance Communication And Efficiency
Having a cloud-based software is also a way of increasing the collaboration between co-workers in a very easy and secure way. An effective collaboration is indeed key for the better performance of any company nowadays, and the integration of all the data in the cloud is an effective way of ensuring that everyone is working with the most up-to-date information.
This is particularly true with the revenue generating part of a sales software like CPQ: having a cloud Configure, Price, Quote software enables a better integration with back- (ERP) and front-end (CRM). Indeed, all relevant product and price knowledge is found in real-time in the cloud so you are sure that the generated proposals are always accurate and that everyone is contributing to quotes under best conditions.
Read more about how quote collaboration needs are facilitated via cloud solutions in our article “5 Reasons Why Manufacturing SMEs Need Cloud More Than Before”.
5. Analytics – Leverage Your Data To Gain Business Insights
The last point is probably one of the most important. With today’s technological capabilities, the number of data we gather is gigantic. But we need to know how to process them first, and then how to interpret them, in order to make the best decisions. Analytics is an essential part of a business’ strategy, and cloud computing is the key to accurately process this information.
At In Mind Cloud, analytics are at the heart of our technology: indeed, our platform leverages on a cutting edge Memory Database Technology that provides valuable insight into the business processes. The organizations can therefore have a true competitive advantage since they are able to get actionable insights and bring Big Data capabilities into their strategic decisions.
In short: Cloud Combines Effectiveness And Competitiveness
The most visible advantages of cloud computing are its cost-effectiveness, scalability and enhanced security. But furthermore, using a cloud-based CPQ also helps to radically improve internal collaboration and, most of all, to gather and interpret data analytics in order to gain very valuable insights on the business process. Cloud computing allows you to better allocate your resources and to focus on the core activities of your business, just as a CPQ software allows you to improve your sales process, delivering more value to the customer and leveraging your competitiveness.
Watch out for an upcoming article on why we have developed our sales applications on the SAP Cloud Platform and why our customers should care!
If you would like to know more about how a CPQ solution can help your business, book an appointment with our experts or join our upcoming webinar on “Challenges in Manufacturing – How CPQ can boost your revenue”.