Not only can the cloud computing revolution help businesses with reducing IT costs and improving performance, but it can help customers and providers cut their costs as well, said an industry expert.

Phil Wainewright, writing for, discussed how the cloud computing model can significantly reduce costs across the board by eliminating some of the wasted resources inherent in the on-premise software model.

Wainewright highlighted the power of multi-tenancy by using the example of business execution software company SuccessFactors, whose CEO announced at a recent conference that the company's SaaS multi-tenant application infrastructure provides service to more than 2,850 customers and at least 5.4 million users through the use of just 150 servers.

"This is what the cloud delivers: hardened, high-performance, reliable infrastructure far superior to that of any single enterprise - at an aggregate cost of ownership and operation far lower than those enterprises would collectively spend across hundreds or thousands of separate private infrastructures to achieve a much worse result," he wrote.

Many businesses seem to be catching on to the benefits of cloud computing - a survey from F5 Networks recently found that 99 percent of businesses are in the process of discussing or implementing cloud computing solutions.

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