Cloud technology can help small and medium businesses (SMBs) improve their cash flows by 308%, a report in The Press Trust of India said, citing a study by tech giant Microsoft.
"96% of SMBs find a positive impact on their operating expenses within two years of cloud use, which remains stable with time,” the report said.
Besides operating expenses, adopting cloud capabilities will help SMBs achieve better market access and increase the chances of breaking even. Cloud adoption could also lead to other benefits such as a spike in employee productivity and operational processes, PTI reported.
On the other hand, chief executives surveyed as part of the study said that cloud technology gave them more control over their staff and businesses.
The study also claims that at least 86% of SMBs surveyed said that cloud was a more secure platform and they were interested in adopting it in order to maintain security, business continuity and manage risks.
The survey found that adoption of cloud also brought in a heightened focus on employee development. "Around 94% of SMBs had an increase in the number of skilled employees, with less investment, within two years of high cloud usage," the PTI report stated, citing the study.
Industries such as retail, IT, education, health, and hospitality are early adopters of cloud technology. Though the manufacturing SMB sector lagged behind as compared to other spaces, cloud will have the maximum impact in two years, the PTI report said.
Microsoft conducted the study in partnership with the Thought Arbitrage Research Institute (TRAI) across 11 cities including 275 SMBs.
Last month, the Satya Nadella-led firm signed an agreement with the Tamil Nadu government to accelerate cloud technology adoption in education. As a part of the agreement, Microsoft had said that it would adopt seven schools identified by the government and train their teachers and students around building skills such as critical thinking, creative coding and gaming, app development, robotics, and entrepreneurship.
The company also said that it would offer its Innovative Educator Program to all educators in primary, secondary, vocational and tertiary education across the state.
Additionally, the company will train district education officers in Tamil Nadu and provide them a digital literacy certificate.