In line with the prevalent trend world-over of shifting to the cloud, India is expected to spend up to $1.3 bn on cloud services by 2017. At the forefront of this shift, is the SME sector whose rapid growth is largely due to the ease and effectiveness of cloud computing.
India has come a long way technologically, from an average internet speed of 1.3 mbps in 2013 to 2.8 mbps in Q4 of 2015. In a nation that’s seen a 186% YOY growth rate of smartphones in 2014, the importance of cloud applications could not be stressed more. The demand for instant access is the primary concern for the average user today.
Why is the cloud the better option?
The biggest draw of the cloud is that it’s available without the need for any additional IT infrastructure and annual maintenance charges. Unlike its older counterpart, one doesn’t need hyper-qualified IT support as cloud applications are designed to be user-friendly and plug-and-play.
Owing to its nature, there’s no CapEx thereby making it highly affordable, especially to the SME segment. They work on a pay-as-you-go model, with the ability to upgrade or downgrade on a whim. Another bonus of using an application on the cloud is the ability to access it from anywhere and at anytime.
What’s a good example of showcasing the cloud’s potential?
Take an otherwise tedious procedure like payroll processing. In a typical system, it involves a lot of man-hours and comes with the high possibility for error. It’s dependant on many variables that inevitably result in it being hard to spot a problem. With a cloud-based payroll software however, these are problems of the past.
Since all your information is on the cloud and most things are automated, all it takes is a click of a button and your payroll is generated. An additional feature is the assurance of being statutory compliant. Something that is infamously hard to monitor due to the dependency of a third party.
greytHR is dedicated to payroll processing on the cloud and all that comes with it. This is a boon to any company. They can now spend mere minutes instead of hours/ days to process the payroll for their company. All this with the quiet satisfaction of being 100% statutory compliant.
Technology and trends are dynamic and the current trend is to garner efficiency while being user-friendly. A cloud solution ticks those boxes and ensures satisfied employees, thanks to high levels of transparency.
*Sources: Akamai's state of the internet report