Business organizations now depend on digital tools to ensure a smooth workflow. When it comes to sensitive records, important documents and other crucial records, safe storage is critical. An ideal way to protect business documents is to digitize them with the help of a reliable document conversion company. This will prevent damage to the documents and ensure that critical information is safe.
Going digital in business is not just about conversion of all data into digital format. It also means employing information technology to manage operations and drive the customer experience. Digital transformation also requires an organization to shift its computing infrastructure from its own data center to private or public cloud providers. The cloud is a powerful driver for innovative business initiatives but a poor strategy can impede your business’s transition to the cloud. Today, many businesses are not just adopting cloud solutions – they are utilizing several cloud services at a time to improve organizational efficiency.
Once documents are digitized, the digital copies can be kept safe in cloud storage. Cloud storage refers to a network of online data repositories where data is stored and hosted by third party server. Online cloud storage provides more flexibility when it comes to storing, accessing and backing up data. Important data can be encrypted and backed up in multiple data centers and can be accessed from anywhere.
Though cloud computing has been around for some time, it gained popularity during the lockdown. All organizations were shut down and work from home policies were adopted. This led to the urgent need for digitization. Along with digitization, the demand for cloud computing also increased and this trend is expected to continue even after the pandemic.
According to Gartner, spending on public cloud computing is expected to increase 18.4% in 2021 to a total of $304.9 billion, up from an estimated $257.5 billion in 2020. Their study also showed that the shift to cloud will increase as a proportion of IT spending after the COVID-19 pandemic. The cloud is estimated to comprise 14.2% of the total global enterprise IT spending market by 2024 compared to 9.1% in 2020. International Data Corporation (“IDC”) estimated that by the end of 2021, 80% of organization would put “a mechanism in place to shift to cloud-centric infrastructure and applications twice as fast as before the pandemic.”
With the growth in cloud computing, cloud stocks are also becoming more popular. Earlier, the cloud was just a basic infrastructure. But today, many companies have realized the significance of the cloud system and this has increased the opportunity for cloud stock to grow. Companies that offer cloud computing can make use of this opportunity. Let’s take a look at cloud stocks that have a Zacks Rank #1 (Strong Buy) or 3 (Hold):
Companies need to make necessary arrangements to prevent data breaches. Cloud storage keeps documents safe. Partnering with a reliable document conversion company will ensure efficient scanning of your files so that you can store vital documents in the cloud. Vendors provide backup and tight security protection and you will always have the ability to leverage customer data. The main features of cloud storage are as follows: