In the history of computing, the cloud has developed into the most important technological advancement.

Although flexibility, agility, and scalability were the primary drivers of adoption, there is now a significant opportunity for contemporary businesses to use cloud to boost income. 94% of businesses, according to SG Analytics research, now utilise some sort of cloud service, and Gartner forecasts that end-user expenditure on public cloud services will surge 21.7% from 2021 to $482 billion in 2022. However, in order to fully benefit from cloud computing, organisations must change their approach.

Enterprises must embark on their cloud adoption journey with a longer-term vision as they continue to make significant investments in the cloud. The cloud is a key engine for innovation and higher ROI, not only for cost-saving opportunities (if done right).

considering the cloud as a source of income

With the ability to enable digital transformation and provide useful insights, the cloud has almost become a money-saving promise. Organizations are still having trouble maximising their savings, though. Vendor lock-in, for instance, might prevent companies from attaining the optimum price-performance ratio achievable. A lack of control over data or infrastructure also increases the cost for organisations to develop the precise architecture they want. Another problem is waste, since many businesses spend on cloud services they don’t use merely to have access to what they do.

However, even after resolving these problems, organisations that are only focused on cutting costs may ultimately reach a threshold where additional reductions are tougher to achieve. Instead, a shift in mindset is required to consider the cloud as a source of revenue in order to guarantee both efficiency and profits. For example, using operational information to develop new services that increase revenue and provide operational efficiency.

Businesses who do so will soon reap the rewards, including major enhancements to the end-user experience and improved creativity. A more complete 360-degree perspective of consumers or new crossover points for omnichannel offerings might arise from this.

Set the process in motion

Plotting revenue targets and determining how technology may best support them should be the first steps taken by organisations. They must then exercise creativity. With the cloud, anything is possible and there are several chances for ongoing innovation and service delivery. For instance, the cloud may be utilised to quicken the time it takes to promote new products. Additionally, it may make things easier to get through a digital marketplace where customers can just pick the programme they want to utilise.

The globe is suddenly made accessible by seeing the cloud as a source of creativity. This kind of thinking will be crucial to commercial success. Organizations will open up new vistas of opportunity by investigating how the cloud works with cutting-edge applications like edge computing.

Accepting the possibility

Those that have adopted this new strategy are already seeing results. Given that McKinsey predicts there will be $1 trillion in cloud revenues available by 2030, this is hardly shocking.

One such instance is telecom giant BT, which used the cloud to quickly launch new products, exceed performance requirements, and enhance customer relations. The cloud shortened BT’s sales cycle and improved the customer experience by quickly making more information and services available to more users. Additionally, it guaranteed low latency and high throughput to always be able to handle peak viewer demand. The technology might also manage more transactions at once to provide personalised service and cross-device streaming.

A future with no clouds

This new strategy will assist organisations in exceeding expectations as cloud computing continues to gain popularity. Organizations may unleash new ideas and income streams by making cloud a central priority and evaluating it for its financial viability. This strategic way of thinking gives businesses an advantage over rivals through increased agility and a favourable cloud-based future.