Until you factor in the salaries of the new employees you have to hire now, the cost of that hiring process, the compliance and security implications of operating servers on your premises, the ongoing maintenance of the software and operating systems, the new infrastructure to maintain, including but not limited to backup power supply and overall redundancy, the need to manage the lifecycle of the new hard- and software, the documentation for all of this… I could go on for a while.
It's not like these cloud solutions are just solving laziness.