The Cloud is simply a metaphor for the Internet. The Cloud exists in the Internet and uses internet protocols to move information about.
The cloud utilizes two very important parts of the internet, 1) information can be stored and retrieved from anywhere and 2) all information is real time.
This is vitally important to your business because the road to higher profits is to be found in speeding everything up while eliminating mistakes. The cloud facilitates these gains simply because it is always accessible and all information is real time.