First, the cloud became a place for businesses to store data safely off-site, eliminating the need for massive network centers. Then, the pandemic hit and millions of employees worked from home and used the cloud to store, share and access data. Now, cloud providers are increasing the cost for cloud services, and it’s becoming a pricey proposition for companies that need to keep costs in check as the economic rebound continues.
Just in the first quarter of 2021 alone, U.S. companies spent $18+ million on cloud services, which is a 29% increase over the same period in 2020. The top cloud service providers, like Microsoft, are already announcing price increases for 2022. The irony is that reducing costs was a contributing factor for many businesses to move their data to the cloud in the first place, yet find themselves seeking ways now to manage growing cloud-service costs.
Does that mean moving out of the cloud? No. Overall, the cloud is a convenient place to store data and have it accessible to your employees. But, there are some ways you can reduce your cloud storage fees, especially if your company isn’t storing galaxy-sized amounts of data.
Shop Around and Put All Your Services with One Provider
This approach isn’t much different than what you do when it comes to streaming, internet, cable and phone service in your personal life. Providers call it bundling and often offer a discount for customers who choose them for more than one service. For example, Google offering Fiber internet service, as well as Google TV, or AT&T’s internet, phone and television bundles.
Migrating your data to another cloud storage will come with cost associated with the time to move the data over. However, you may save on the back end, especially if you move your data to a service provider you already use, such as Microsoft’s OneDrive if your company already uses Office. The same applies to Google Workspace.
Move Old Data That Must be Kept to the Digital Equivalent of a Storage Shed/Facility
There is no reason to pay premium prices to store antiquated data; data that you must keep for business or regulatory purposes, but is rarely, if ever, accessed and used. Think of it like leasing luxury office space simply to store office supplies.
Cloud storage providers offer “cold storage” at a much cheaper rate. Consider moving archive data to one of these services.
“Marie Kondo” Your Data, Organizing and Eliminating What You Don’t Need
Marie Kondo inspired her followers to clear out the clutter and keep what matters in their homes. Apply the same principle to your company data. Depending on the amount of data you have stored in the cloud, this may take some time, but could save a significant amount of money.
Chances are that there is old, redundant or meaningless data hogging up your storage. Delete it or move it to archives. To minimize the burden of doing so, employees can be responsible for “cleaning out” their customer and/or project files. Or, depending on your company’s structure, one employee whose given parameters can make this a work project.
Set Up Your Own Storage Network
You built your business to grow. And, your employees rely on their computers for nearly every aspect of their work. Investing in a business computer network gives you the flexibility you need to grow efficiently. It protects your assets, and can make your company less vulnerable to hackers, while keeping your employees happy and productive. Of course, there are upfront costs to establishing your own network, but with rising cloud storage costs, it might be a financially smart decision in the long run.
Consider Data Center Collocation
Moving out of an office space or downsizing is a good time to re-evaluate data storage, and data center collocation is an option. Techopedia explains the concept well:
Data center collocation is primarily provided by data center or IT service providers.
Typically, data center collocation is deployed within a data center collocation facility. Such a facility is similar to a data center having ample, unused floor space available for rent. The owner of the data center collocation facility provides the floor space, cooling, power and physical security whereas the customer brings in its own servers, storage and/or applications. Data center collocation primarily enables organizations to deploy a data center facility without the need to buy or manage it.
A data center collocation works well for hybrid workforces or storing non-cloud IT assets. There are several located in Kansas City, and our IT experts can help you choose one based on your needs.
Want to Explore Cloud Storage Options?
Invision has helped several Kansas City businesses easily find the right solution for their data storage needs and budget. Let us know how we can help.