Much has been said in recent years about the financial benefits that cloud computing generates for companies. Some of these are reduced operating costs , the flexibility to scale the infrastructure up or down, and the ability to only pay for what you use. And if the cloud provides so many financial benefits for organizations, does it also positively impact the global economy?

Technology is transforming the corporate universe and also the way companies conduct business. In today's post, we'll show you how cloud computing is benefiting the global economy. Check out:

Encouraging the emergence of small businesses

Before the cloud, very few startups and small businesses were able to get massive computing power – due to the prohibitive costs of physical IT infrastructures – and compete with global companies. Now, they get all the power they need to grow at a very low cost. And this, of course, is stimulating the entry of small companies into the market and favoring the global economy .

Facilitating collaboration and data sharing between organizations

Let's assume that a financial institution has partnered with some technology startups. For this partnership to be really effective, both the institution and the startups need to share data, strategies and methodologies, so that both parties can obtain better results in the market. Let's also imagine the case of an insurance company, which needs to keep up to date on new methodologies.

Instead of spending resources developing its own methodologies, and creating barriers for itself and its competitors, the ideal would be for it to use those shared by other companies. And when she created a methodology, she shared it. This would create a collaborative culture where everyone would benefit in some way and improve the sector's results in the global market. In these two cases, the cloud facilitates data sharing.

Leveraging the productivity of the world's workforce

Thanks to cloud computing, today a significant portion of the world's workforce is able to quickly share information and work through mobile devices. And this ends up increasing the productivity of professionals and making them generate more value for organizations, which will be able to do more with less, increase their profitability and benefit the global economy.

Increasing the speed of international transactions

The saying that “time is money” is as true today as it was a few years or decades ago. As the market and the profile of consumers constantly change, at a very fast pace, only those companies that make the most money in the least amount of time will manage to survive and stand out. And one element they need to pay attention to is international financial transactions.

Until recently, they took a long time to be carried out. And as the market grew and the volume of transactions expanded, obsolete technologies were no longer able to handle them. This reduced the speed at which they were carried out and negatively impacted the market. But with the emergence of cloud-based technologies, problems related to speed and volume have been resolved.

Did you just see how many ways the cloud benefits the global economy? If you have any thoughts on this subject, feel free to write them in the comments! [:]

Written by

Sky.One Team

This content was produced by SkyOne's team of cloud and digital transformation experts.