Cloud solutions are scalable, you can scale up or scale down your operation and storage needs to quickly adapt to the changing environment.
There is no need to purchase and install expensive upgrades yourself, as your cloud service provider can manage these issues for you.
This frees up your time to focus on running your business. Automatic software updates are usually included in your service fee, then (depending on your cloud service provider) your solution will be regularly updated with the latest version. This could be for software, or server upgrades and changes to computer processing power.