eFax Blog

Even as internet and tech giants battle for superiority in the cloud computing market, small and medium-sized businesses can take advantage of the services. The technology is changing the way businesses operate and revolutionizing how companies store and back up important information, according to a Washington Post by cloud computing researcher Erik Larson.

The cloud is also changing the way hardware and software is sold. Take cloud backup solutions, for example. Instead of purchasing external hard drives and other equipment that was necessary in the past, companies simply subscribe with a cloud computing vendor, install an application and data is securely stored on the internet, Larson said.

Today, nearly everything is going to the cloud, including accounting programs and phone and services, Larson continued. This is because the cloud is easy to use, requires minimal setup and comes at a lower cost than similar traditional services.

According to , businesses will likely spend nearly $73 billion on cloud computing services in 2015. This increase from $21.5 billion in 2010 shows a significant improvement in awareness and demand of the technology, further suggesting the cloud may be beneficial to everyone.