Table of Contents
Think of a scenario—you are overseeing the operations at a growing startup or enterprise, managing strict deadlines, looking after the customer needs, and tackling the constant pressure to innovate and push up the revenue numbers. The team’s productivity technology seems stretched, while the IT cost is also increasing. In short, scaling the business is a significant struggle. Is there a way to simplify all these challenges? Cloud Computing!
If you’d look deeper into the insights behind success stories of business we hear often, the crux of it all is—adapting cloud-based services to push business efficiency and drive successful results.
Types of Cloud Deployment Models
There are numerous cloud-based accounting technologies. Here’s a detailed run-down of the most essential cloud computing tools you should know about as a business stakeholder:
- Public Cloud: In simple terms, you can think of the public cloud technology like a shared office space. It’s managed by reputed providers like Amazon Web Services (AWS), Microsoft Azure, or Google Cloud, and offers affordable access to a massive amount of computing power. What is best is here, you only pay for what you use, making it cost-effective and easy to scale.
- Private Cloud: Private cloud solutions are like having your own dedicated office suite—with high-level control and customization. This model is either hosted on-site or managed by a provider for exclusive use by one company. This means you can leverage security and data protection of top-notch levels.
- Hybrid Cloud: A hybrid cloud technology—as clear from its name is a mix of the two. You get the flexibility to run specific processes in a private cloud, while also scaling up using the cost-effective public cloud when demand spikes in your business operations.
- Community Cloud: Picture a shared workspace designed specifically for one industry or type of organization—such as healthcare providers, educational institutions or financial institutions or banks. A community cloud is a specialized environment where companies with similar needs can collaborate, share costs and stay compliant with industry-specific regulations.
This setup is great for startups, growing businesses and enterprises alike, as those need flexibility but don’t want the overhead of maintaining their own infrastructure. Just remember, because it’s shared with other users, your data security is protected with data governance practices.
The private cloud is a popular choice for businesses or those in industries with strict regulations (finance, healthcare) because it’s easier to comply with industry standards. The downside? It’s generally highly expensive than the public cloud.
It’s a great setup for companies with varying workloads or those balancing the need for security with scalability. Hybrid clouds let you keep critical data close, while still tapping into extra resources as needed.
This setup is often managed jointly by the organizations involved or by a third party. It’s especially valuable for industries where security and compliance are essential, as it allows for collaboration while still maintaining high standards for data protection.
Cloud Service Types
Within these cloud deployment types, there are majorly 4 types of deployment services that are used by startups and businesses. These are—Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and lastly, Serverless Computing.
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
- Serverless Computing
Imagine if you could rent a virtual warehouse of powerful servers, storage, and networks—without the overhead of buying and maintaining hardware. Infrastructure as a Service (IaaS) does exactly that. It lets businesses “borrow” computing power as they need it, giving them flexibility and saving costs by only paying for what they use.
For startups with lean budgets and fast-changing needs, IaaS is like having the keys to an entire data center without ever touching a physical server. This model gives your team full control over the operating system and applications, making it perfect for companies that have specific technical needs but want to avoid hefty hardware expenses. Popular IaaS providers include Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP).
Developing applications often feels like climbing a mountain of tasks: setting up servers, managing updates, and troubleshooting. Platform as a Service (PaaS) simplifies this journey. It provides a ready-made platform where developers can build, test, and deploy applications without worrying about the underlying infrastructure.
Think of it as having a supportive partner that handles server management, updates, and operating systems so developers can focus on what they do best: creating and innovating. PaaS is ideal for companies eager to launch products quickly, with the added bonus of not needing a full in-house IT team to keep things running smoothly. Some of the popular PaaS providers are Google App Engine, Microsoft Azure App Service, etc.
Imagine being able to access powerful tools with a click, no downloads or installations required. Software as a Service (SaaS) is like a virtual toolkit that you can reach for whenever you need—whether that’s an app for managing customer relationships, collaborating with your team, or crunching data.
SaaS applications are hosted online, which means you can access them from anywhere and forget about updates or maintenance. For businesses looking to scale quickly or gain instant access to essential software, SaaS offers a ready-to-go solution that frees up time and resources for other priorities.
Serverless Computing takes the hassle out of managing servers by letting your code run only when it’s needed, automatically scaling up or down depending on demand. For businesses, this means you’re only paying for the moments your application is in action—a great way to cut costs without sacrificing performance.
Think of it like ordering exactly what you need off a menu and only paying for what you use. Serverless is perfect for applications with unpredictable traffic, real-time data needs, or IoT applications that require instant responses. It’s a smart choice for businesses looking for flexibility, efficiency, and simplicity.
Benefits of Cloud-based Services in 2024
Saving on Costs
Cloud services allow companies to operate in a more economical way than they can achieve with the use of traditional IT infrastructure. That is, you do not have to spend money on costly equipment, hardware, and maintenance if you cannot afford it. Picture it; no more hidden budgets, costs for upgrading or fixing things. Only smooth and controlled costs. In 2024, when cut-throat competition forces businesses to rely more on smart spending, the cloud provides a simple solution to achieve cost reduction without compromising service quality or efficiency.
Easy Scalability and Flexibility
With the benefits of cloud services, scaling your business up or down is as simple as adjusting a dial. Whether you’re experiencing a sudden surge in demand or just want to stay flexible, the cloud lets you respond in real time. Need extra resources for a big project? Or maybe you’re scaling down after a busy season? No problem—the cloud adjusts with you. In 2024, this kind of agility is a must, giving businesses the freedom to grow (or pivot) without being held back by outdated systems.
Improved Collaboration
Working together has never been easier, thanks to the cloud. Teams can access and share files in real-time, whether they’re across the hall or across the globe. This setup has made remote and hybrid work truly seamless, ensuring that collaboration stays smooth and projects move forward. In 2024, as remote work continues to be a big part of many companies, cloud-based collaboration tools are the backbone that keeps teams connected and productive, no matter where they are.
Data Security and Compliance
Data security can feel overwhelming, but cloud providers make it simpler. Many cloud platforms come with built-in security features—like encryption, regular updates, and compliance certifications—that go beyond what most companies can manage on their own. In 2024, when data protection and privacy laws are only getting stricter, cloud-based services offer peace of mind. You’re not just getting storage—you’re getting a dedicated team of experts constantly working to protect your data and keep it compliant.
Business Growth
One of the best things about using cloud services is how they open up new opportunities for growth. With the cloud handling all the infrastructure, your team is free to focus on what really counts—like creating new ideas, launching projects, and connecting with more customers. You’re not held back by tech limitations, so you can grow as fast as your ambitions. In 2024, cloud-based services are truly game-changers, giving businesses the flexibility to reach their goals and jump on new opportunities with ease.
How to do Seamless Onboarding to Cloud
Making the leap to cloud-based services may feel stressful, especially if this is your first time. However, with the right game plan, you can make it into an exciting journey. Start by assessing your current systems—what are the core workflows and processes that drive your business efficiency and growth? Understanding this will help you determine which parts to move to the cloud first.
From the beginning, engaging your team is a good idea. Discuss with the stakeholders and speak to the founder and the CFO. When everyone feels a sense of belonging and is in the loop, the transition process does not present any fears. Make training materials available and promote conversations concerning the changes.
At Febi.ai, India’s first AI-powered cloud accounting and tax compliance solution, we’re dedicated to making your transition smooth and efficient. Our platform is a comprehensive tool for everything from bookkeeping and tax compliance to file management, financial reporting, predictive analytics and smart invoicing. We understand that every business is unique, so we offer dedicated support to ensure you not only migrate seamlessly but also enhance your operations for growth and success.
