How Cloud Computing Affects the Accounting World - Research Paper Example

? How Cloud Computing Affects the Accounting World al Affiliation) How Cloud Computing Affects the Accounting World Introduction Cloud computing refers to the practice of using remote servers hosted on the internet (KPMG, 2012). This practicing has led to ease of carrying out many tasks such as storage, management and processing of data. Services enabled by cloud computing are divided into three main categories including infrastructure, software, and platforms. The other form of computing was known as traditional computing. However, in many institutions and traditional computing has been replaced with cloud computing. This is owing to the many advantages that cloud computing has over traditional computing. The superior traits of cloud computing over traditional computing include its elasticity, can be easily managed by the service provider and can be commercialized. In addition to that, cloud computing makes it possible for people to share documents with much ease. Thus, owing to the advantages of cloud computing and advancing in technology, many firms are adopting the system. How does the location independence of cloud computing help Deutche Bank or any other organization? Any organization using cloud computing can allow access to their customers to general transactions. In this case, cloud computing will be helping the organization increase its transparency. A direct effect of transparency is increased sales. Especially in a bank, customers want updates about what their money is being used to do. In addition, cloud computing also offers the general public an opportunity to learn about many organizations. Increased exposure will lead to increased sales and gaining of new customers. Location independence allows the organization to control the flow of information (King, 2008). This leads to increased security for the customers. Some banks have reported cases of staff members looting customers. This can be eliminated by cloud computing in that only few people can be granted access to sensitive information. The security of any data is protected from anyone wishing to alter anything. In the bank, this is advantageous as it can avoid losses from opportunistic individuals. Another way through which cloud computing offer services to banks and other organizations is by automated saving of data. Once data is entered, it is automatically saved and access of that data is limited to people who have been cleared to have access. Many firms using traditional computing have suffered from loss of data owing to power or machine failure. However, with cloud computing any server can be used to access the data that was stored. Would cloud computing be useful to your school? Cloud computing is designed for both public and private use. I believe that cloud computing can be useful to our school due to its advantages. These include saving time and money for the school. The school can benefit from information technology infrastructure at minimal costs. Also in cloud computing hardware upgrading is not needed which can save the school a lot of money. The time consumed during hardware upgrades which can result in systems shutdown can be avoided and minimized (Combs, 2012). The school will also save time and money in terms of laborers required. Another advantage that can benefit the school is that cloud computing enhances integration of data. Activities undertaken by the staff can be dealt with within a short period leaving a lot of time to deliver quality education to the students. Another advantage is that with cloud computing, the school gets to be a part of developing technology. This can be beneficial to both the students and faculty especially the ones engaged in computer science and information technology courses. The students benefit from an opportunity to practice within their field which gives them some experience. In business organizations, cloud computing has greatly contributed to easy management of the business. Storage and retrieval of records is cost effective and does not consume a lot of time. In addition, any data stored in cloud computing is saved and if needed it can be retrieved. Cloud computing also enables small businesses to increase their exposure which lead to increased sales and expansion of the business. How does being aware of technology trends help a business become and stay successful? One of the advantages of being aware of technology trends is that it aids in making the workload easier. For example, cloud computing can be used in a business to store, organize, and process data. This results in having a lot of time and money that would have been used in hiring employees. Thus, being aware of technology trends can help save a lot of time which can be implemented into other important aspects of business such as increasing sales. The money saved can be used to renovate the business and invest in innovative ideas that will make the business remain competitive. Technology can also help one be a head of time when it comes to business (Meghanathan, Chaki, & Nagamalai, 2012). This is in the sense that one can access solutions and predict business obstacles by use of technology. For example, by processing of data from record sales one can be able to project the growth of business in a given period of time. Therefore, one can foresee any obstacles and correct it before it happens which could result in failure of the business. Another major advantage of using technology in business is that one can increase the exposure of the business at minimal costs. This lowers the cost of production leading to higher returns. In addition, increased exposure leads to increased sales which are also profitable for the business. Use of cloud computing in computer sciences and information technology Introduction of cloud computing has had a great impact on information and technology department. The first change was the move from traditional computing to cloud computing. Cloud computing is being used in various ways in computer sciences and information technology. The department has shaped the cloud computing model into three main models that are being used to deliver information and technology to the world. The first model is software as a service (SaaS) (Combs, 2012). This software enables business applications and processes to be delivered as standardized capabilities. This means that the services offered through cloud computing can be commercialized. The software is being used to transfer operational risks from the consumer to the provider at minimum costs. Another model is the platform as a service (PaaS). This provides an efficient and flexible way to deliver application execution services in a predictable and efficient manner. This has greatly reduced the costs of operations in many business organizations. The third model is infrastructure as a service (IaaS) (Steir, 2011). In information and technology, this service is being used to provide a standard and flexible operating environment. At this level the risk is shared with the consumer covering the risks above the infrastructure while the service providers cover both the performance and availability of the infrastructure. Conclusion Cloud computing has contributed to the growth of many fields globally. In addition, it has contributed to the increased and cheap way of connecting with other people globally. The major contribution of cloud computing is realized through global economics. Businesses have benefited from increased sales, time management and reduced cost of operations due to cloud computing. Cloud computing has also greatly contributed to the growth of computer sciences and information technology. This is through the fact that the department has customized usage of cloud computing. This is through provision of services in three main models that ensure the consumer benefits from better management of data while the department benefit from the income generated. In addition, cloud computing is preferred by many owing to its elasticity and lower costs. A person can regulate flow of information which reduces operational risks. References Top of Form Top of Form Combs, K. (2012). What is Infrastructure as a Service (IaaS). http://blogs.technet.com/b/privatecloud/archive/2012/04/04/what-is-infrastructure-as-a-service-iaas.aspx King, R. (2008). How Cloud Computing is Changing the world. http://www.businessweek.com/stories/2008-08-04/how-cloud-computing-is-changing-the-worldbusinessweek-business-news-stock-market-and-financial-advice KPMG. (2012). The Cloud Changing the Business Ecosystem. http://www.kpmg.com/IN/en/IssuesAndInsights/ThoughtLeadership/The_Cloud_Changing_the_Business_Ecosystem.pdf Meghanathan, N., Chaki, N., & Nagamalai, D. (2012). Advances in Computer Science and Information Technology: Computer Science and Information Technology: Second International Conference, Ccsit 2012, Bangalore, India, January 2-4, 2012. Proceedings. Springer-Verlag New York Inc. Stair, R. M. (2011). Fundamentals of information systems. New York: Cengage Learning. Bottom of Form Bottom of Form Read More