The emergence of cloud computing has sparked massive change for the IT industry. This is especially true when it comes to small and medium-sized businesses, as the technology enables decision-makers to improve operational efficiency without dramatically raising costs, according to a CompTIA report.

The cloud also enables small companies to gain a competitive advantage over rival firms, as the hosted service lets SMBs leverage the same cost-effective and innovative solutions used by enterprises, the news source noted.

"Economies of scale afforded by the cloud help keep our capital costs down and help fix our operating expenses," said Dan Shapero, founder of a cloud-based digital marketing program provider. "In turn, we can put our efforts into value added service instead of maintenance of expensive infrastructure."

SMBs are also adopting the cloud to improve disaster recovery and business continuity plans, according to a separate report by Symantec. While cloud servers enable firms to gain a competitive edge, they also improve IT security and help companies continue operating in the wake of a disaster by providing access to mission-critical information and solutions.