Small and medium sized businesses continue to move more of their business functions to cloud-based services. Data from our recent Local Pulse Report™, shows a 180% increase in the usage of cloud-based technology over the past 3 years. Today, 42% of small businesses use at least one cloud-based service to help manage their business. This trend isn’t going to stop either. Thirty percent of businesses plan to invest more money in cloud-based tools over the next twelve months.
Software as a service — or SaaS — remains the largest segment of the cloud market, with revenue expected to grow 16 percent to reach $85 billion in 2019.
With the adoption of cloud services, businesses have the ability to streamline business processes and activities in real time. Business owners end up saving time and money in the long run. If fact, we’ve seen the results first hand. The last two years we conducted studies on the home services segment that tracked the activities businesses spent their time on. The results showed that businesses that made the switch to cloud-based software spent 70% more time on customer related activities than those that didn’t switch.
This was significant because the reallocation of time to customer focused activities enabled many of the businesses to significantly increase revenue and improve satisfaction levels.
We will be continuing our work in this area and will be releasing additional content. If you would like a briefing or participate in the study, feel free to contact us.