The cloud has been a big buzzword in the tech industry for quite some time now, and it is expected to stay that way: spending on cloud computing is projected to reach $95 billion by 2015, up from $45 billion in 2012. Organizations are quickly turning to cloud computing because it can increase efficiency, improve productivity, enable flexibility and reduce costs.

According to a recent market survey, adoption of cloud customer relationship management (CRM) solutions is on a rise, and the cost savings of cloud software solutions are a main driver for this growth. Approximately 60 percent of SMEs studied in the survey listed cost as a major factor when choosing Web-based CRM solutions, and SaaS (News - Alert) adoption is predicted to reach 50 percent of all CRM adoptions by 2020.

Cloud-based CRM is great for SMBs because they don’t require SMBs to manage or provide the hardware and infrastructure needed to host the services. This also means they don’t have to worry about upgrades or version updates. In the past, many organizations were found using outdated CRM versions, since updating legacy software is an expensive and lengthy process. Cloud CRM platforms offer all of the advantages of an enterprise hosted CRM solution but delivered over the Internet.

Organizations are also able to offer rapid deployment when they adopt a cloud CRM system. Hosted CRM implementations can take as little as a few hours or days, so companies can start using the program almost immediately.

Another benefit of the cloud is the convenience of readily available customer information when you want it. You can also opt for storing and backup features, which ensures that data is kept secure in the event of a disaster and improves collaboration between teams in different locations.

There are many different cloud CRM providers in the industry today. For example, Soffront offers a hosted CRM service for companies that want to centrally manage their customer-facing processes, but don’t want to manage IT infrastructure or use staff resources for administration. Included in its cloud CRM offering are complete sales, marketing and service features, as well as order management, customer analytics and embedded best practices.

To learn more about Soffront’s cloud CRM solution, click here.