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Cloud computing grants businesses the flexibility, scalability, and security to be successful with remote work.

Why Cloud Flexibility & Remote Work Are The Future

The Flexibility of The Cloud & Remote Work

How does cloud flexibility allow for a remote work environment? When you migrate to the cloud, your data is hosted in an off-site data center instead of on premise.

You can then work from any location as long as you have a device connected to the internet. By eliminating the restrictions of an on-site server, you can increase your mobility exponentially.

You can work from anywhere as long as you have the right credentials, a secure device and an internet connection.

Remote Work Promotes Business Continuity

Business doesn’t stop for anyone. Having the option to work off-site has many benefits. When you consider how chaotic things can be you start to appreciate the flexibility of the cloud.

Many businesses struggle and even fail after a natural disaster or an unforeseen event. The Pandemic of 2020 showed us that the world can come to a crashing halt at any given moment. Investing in your firm’s future is not about ignoring an uncomfortable reality, but adapting to it.

We learned in a matter of a few short months how quickly the standard model can fail when tried. And a pandemic isn’t the only natural disaster that brings these conflicts. If you live in the east coast, hurricanes, tropical storms and other weather events can limit access to your business. Storms cause outages and often floods. What happens to your business then?

For small businesses, the recovery from hurricanes and other natural disasters might take years — if they even recover at all.  After Katrina, Louisiana businesses suffered a lot of damage.

Those with remote capabilities can function in these types of circumstances since they are not limited by a physical office space.

Small Businesses Struggle After A Disaster

Many small businesses are not as lucky as the larger franchises, however. According to a government study, 40 percent of small businesses never reopen following a weather-related disaster. The reason for that is unfortunate but simple: a halt in productivity is a halt in revenue. Businesses that shut down during these disasters are still growing, don’t have adequate cash reserved to repair damage and pay bills once they stop operating.

Even without any physical destruction to property, businesses that shut down can lose money and fail to pay for their monthly overhead. We’ve seen this happen to shopping malls and retail stores. A retail store owner will pay a mall for space but when they shut down, there’s no money coming in. As a result, the store closes down.

How about if an employee gets sick or has to suddenly leave town? How about businesses that are impacted by earthquakes or reconstruction?

Companies whose workers can work remotely have a better chance at survival than those who rely on in house servers and technology.

What’s worse, none of these events are within the control of a business owner. Not having remote capabilities is like living in a house without insurance or an alarm system. You’re at the mercy of the elements.

Remote option Increases Productivity Even in Unforeseen Situations

Another example is when an employee gets sick, or has to care for a sick child, and can’t get to the office. Without the flexibility of the cloud and remote work, the will inevitably fall behind.
If they are able to work from home, however, business can continue without major interruption.

Working from Home Business Can Continue with The Cloud

The benefits of Cloud and remote work are for more than managing disasters and illness. When workers have access to their files and data, they can make last minute changes to a project or document. They can collaborate and improve the quality of the work outside the office as well.

Conversely, an employee might want to make progress with the work they are doing to prepare for a busy week coming up. That way they can clear up their schedule and move on to other projects and tasks. Employees can access their important files through the cloud at a moment’s notice.

When given remote access, employees experience a boost in productivity. Having a quieter environment away from the distractions of the office makes a big difference.
Offices can be very distracting environments. Away from office banter and side-conversations in the break-room, employees are more focused on the tasks at hand. They also take shorter breaks and work to the end of the day.

Increase Productivity With The Cloud

Remote work opens up new opportunities for employees and business owners alike. There are Gallup polls showing a 37 percent increase in productivity when moving to a remote environment.
The only thing is, you have to make sure you have the right technology in place to succeed. Ensuring you have the data and cyber protections in order to keep your business information safe. Migrating to the cloud and adopting remote work methods is useless if it makes your business more vulnerable to cyber attacks.

Remote Work Is Green Work

As we alluded to, employees and employers work longer partly because they don’t have a long commute. But if you think about it, that also means no commute at all. Remote work decreasesw traffic congestion, greenhouse gasses and air pollution by working from home.

In fact, remote workers take 600,000 cars off the road each year. On a cloud-based platform, greenhouse emissions will plummet to an all time low. That doesn’t mean people won’t go out to their favorite restaurant or shopping center. It simply means vehicles will be used more sparingly.

Not to mention the added bonus in savings on gas and repairs from the natural wear-and-tare that comes with car use.

Do Your Research

Look for a Managed IT services partner that fits your specific business goals. Nerds Support, for example, focuses on financial services and logistics firms. Therefore, we focus on compliance, auditing processes and cyber security for financial firms.

Other cloud providers are made for marketing and creative projects. There are plenty of Managed IT services providers that offer IT consulting for hospitals or local businesses. Here are  10 examples of cloud computing if you want to learn more.

Cloud Flexibility Allows you To Adapt And Overcome

When companies are faced with any disaster or problem they have to rise to the occasion and pivot their business to adjust. Spotify, the massive music streaming service, is a good example. When the Covid-19 pandemic of 2020 came, advertisers had to make budget cuts.

Knowing this would threaten Spotify’s business model, they chose to focus more on streaming podcasts rather than just music. Spotify recognized a massive uptick in the number of individuals streaming podcasts and decided to adapt by capitalizing on the unique opportunity.

In much the same way, companies must embrace remote work or be replaced by those willing to make the change.

 

Financial advisor working remotely from home on his computer.

4 Things Financial Firms can do to Succeed Remotely

Financial firms are in the best position to succeed in a remote environment. Engaging with clients is easier than meeting in person and much of the work can be done regardless of location.

Americans are slowly adjusting to working from home. As states begin to ease the quarantine restrictions some companies are declaring permanent remote work environments. Companies like Facebook and Twitter are offering their employees the opportunity to work from home indefinitely.

Many firms have already moved to a fully remote operation and many more will do so in the future. However, moving to remote work can be difficult if handled incorrectly. Creating a successful remote operation is a new challenge CPA’s and financial firms will have to overcome.

When the lock-down started business owners looked to getting operations up as quickly as possible. Those who hadn’t migrated to a cloud based system did so. Others only migrated partly. While others still, struggled to adapt to a fully remote workplace. Video conferencing tools like Zoom and Microsoft teams grew in use and popularity.

Daily downloads of the videoconferencing app Zoom increased by 300 million participants since March. Businesses and employees spent time researching the different videoconferencing application and IT services companies that best fit their standards. But that’s only the beginning.

If you as a financial firm want to succeed in a remote environment you have to navigate cooperation, time management, data security and keeping your business functioning even while everyone may be so distant.

Here are a few ways to achieve success for your firm while working apart.

1) Take Advantage of Your Remote Environment

Maybe you’ve already noticed, but it’s difficult to distract each other with office gossip when there isn’t an office to gossip about. 85 percent of employees are either not engaged or disengaged at work. As a result, there is a 7 trillion dollar loss in productivity. Many offices have an open office layout which create a 32 percent drop in productivity.

However, this is harder to replicate when you’re forced to work remotely. Instead, the productive thing to do is to set virtual office hours or schedule meetings for a specific hour the day. Employees and staff can reserve a meeting however you choose. This might appear obvious to some but even in a remote environment it’s easy to get side tracked. You get one call from one colleague and then anther call 20 minutes later from an employee.  By the time you finish, you might not remember what you were doing in the first place.

Designate a period of time in your weekly and daily schedule for all meetings. The routine will also keep you focused and organized. Keeping a routine can lead to positive mental health. A routine can help manage stress levels and less overall anxiety, according to one study by Northwestern Medicine. College professors and councilors are very familiar with this system. It would be like having virtual office hours where team members can choose a slot and book a meeting.

2) Adapt to Technology

If you stop and think, if something like the Lockdown of 2020 had happened ten years earlier, remote work would not be possible. The emergence of cloud technology and communication apps like Microsoft Teams, Skype, Facetime, and Zoom together is what allows for a successful remote work environment.

Moving forward, many experts expect these changes to persist, bringing in a new era of remote activity. For financial firms, advising, asset valuation, and consulting will be done remotely. Firms should be looking to build on this change and integrate a remote reality to their existing operation.

What can your firm do to remain competitive, updated, and secure. Invest in a cloud service provider. IT services are going to be pivotal in the coming decades. Managed service providers will be in a position to make or break your firm. Look up the different cloud models and their features. Are they FINRA or SOX compliant? Where are their servers located? Are they stored somewhere outside the U.S.?

Nerds Support specializes in working with financial firms. However, there are many options available when hiring a managed IT service provider. Some are better than others, depending on the industry. You have to factor in security, location, knowledge of your industry, and even availability.

The Workplace platform provides a comprehensive solution that combines cyber security, compliance, & remote work needs.

The Workplace platform provides a comprehensive solution that combines cyber security, compliance, & remote work needs.

Is there someone you can talk to when something goes wrong? Do you have a point of contact? Sometimes a support team consists of strangers and other times it’s the CEO.

4) Build a Better Team Remotely

Human beings are social animals.  Although remote work is beneficial to productivity, it might be harmful to be socially isolated from your team. But there is a solution.

Team building is an important tool for social bonding and improving motivation. Setting aside an hour at the end of the week to celebrate that week’s accomplishments is a good example of team-building. There are a ton of other games and exercises you can try over video chat. Many have done virtual hangouts. Virtual happy hours are also popular. Even virtual competitions with certain free online games have brought offices together.   

5) Make Sure to Reconnect with Reality

The biggest issue in a remote work environment is that everything does seem to blend together. When you can’t distinguish your bedroom from your workplace it’s easy to get lost in a work-all-the-time mentality. Having an office has the psychological benefit of creating a barrier between your personal and work life.

A Stanford study showed that after 50 hours a week productivity sharply drops. Even worse, after 55 hours productivity gets so low that working becomes counterproductive.

I bring up the Stanford study because the comforts of working from home can often trick you into working more. Working an extra hour won’t kill you but the added stress of feeling like you’re at work at all hours is a serious problem. Establish clear boundaries for yourself and your team. When it’s time to log off, you log off. Communicate with your team your unavailability after a set time. Go for a walk, listen to music, but most importantly stay away from your computer.