Cloud services unlocking new growth for SM

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Cloud services have long been recognised as a major area where companies can add value to their operations.

While this trend has been mostly focussed among larger firms, there has also been considerable expansion among smaller businesses looking to achieve further growth. That’s according to research published last year by the Grattan Institute. The study, entitled “The silver lining: how small business can catch the cloud revolution”, considered how these new technologies are unlocking greater performance from organisations.

The discussion paper detailed how cloud services are still an area which many firms are struggling to invest in. According to the study, many SMEs (47 per cent) are using basic cloud services like email, but very few have moved into more advanced cloud services. Part of the reason for this is the overall lack of engagement with digital technologies among smaller businesses. The research found that 60 per cent of firms have low digital engagement – meaning they have a basic website and small social media presence at most. Engagement with more advanced business tools over the internet is therefore lagging. While many firms aren’t investing in these services, there are many advantages for companies that are looking to achieve more substantial growth. According to the study: “The cloud offers more than these basics. It makes enterprise IT capabilities available to small firms. It offers new capabilities: you can collaborate in new ways and create new services.”

For companies that are looking to invest in new cloud-based software solutions, one opportunity is to invest in services like Dazychain from Yarris. This software can be used by a small business to manage the range of professional services they procure on a regular basis.

Larger firms can also benefit from using Yarris Legal Gateway, which provides a single online portal to manage the range of legal services that a company is using at any time.