As the cloud expands into a truly global solution, more and more businesses are making the switch from traditional on-premises telecom systems. Synergy Research Group recently compiled a report showing that the Unified Communications as a Service (UCaaS) market is growing at 16% annually, increasing yearly revenue to almost $4 billion. By 2018 they predict that the number of users of cloud-based applications will reach 3.6 billion, and by 2019, these applications will comprise 90% of all mobile traffic.

This continued growth has transformed the cloud into an invaluable tool and a means for businesses to stay competitive. There are a number of reasons for organizations to adopt a cloud solution.

Data Sharing

With the cloud, employees within a business are easily able to collaborate, often without even needing to be in the same building. All employees can access the same information, whether they’re in different departments, different branches, or even different countries.

Disaster Recovery

One of the biggest benefits of this type of network is that all data is backed up electronically, meaning that businesses don’t need to rely on something physical to house important information. If a device breaks down or something happens to the physical location of the business, data is still safely stored and can be easily accessed with another device.

Global Access

Businesses looking to expand globally benefit from the flexibility of this system, which allows employees to access data and the network at any time, from any location, using any device.

Online Software

Software installation and upgrades can take time and money, but switching systems allows a business to access software online. This eliminates costly on-premises networks and means that employees aren’t waiting for the IT department to install or upgrade their applications.

Reduced Costs

Because there is almost nothing physical to purchase or rent, businesses save on overhead costs. They also save money and time in terms of managing their applications.

The Growth of Business VoIP

Unlike residential Voice over Internet Protocol (VoIP), which is no longer growing as a market, business VoIP is predicted to continue to expand as more companies switch from on-premises networks. Business VoIP is flexible, scalable, and reduces costs, making it even more attractive to businesses that are increasingly reliant on the cloud.

The physical on-premises telecom solution is on its way out as technology continues to evolve. A cloud solution allows companies to stay competitive while improving employee collaboration on a global scale and reducing costs. This will only help grow the business VoIP market.