Principle of Materiality

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Benefits of incorporating Cloud Computing Technology.

There are many benefits of incorporating Cloud computing technology in the company, such as

reducing overall capital expenditure of the company, having a secure database, and preventing

data from being lost due to physical disasters.

Money saving & Flexible

Cloud computing is able to help the company to save cost being that it provides the company

an alternative of not buying expensive physical hardware and software licenses. When

comparing cloud technology to physical hardware, the company is able to benefit more when

using cloud technology as it is able to provide s ame or more storage capacity at a much lower

cost than physical hardware such as mainframe servers. It also eliminates wastage of storage

space as the company only pays for the storage space it uses, unlike physical hardware which

is often left with large unused storage space. Overall reducing expenditure for the company

when compared to using physical hardware. In terms of flexibility, cloud computing is able to

scale quickly according to the development of the company, it also promotes flexibility of work

practices, enabling employees to access data from the cloud at any location, enabling him to

ability to work off-site and promoting productivity.

Reliable & Maintaining a competitive edge

It is also beneficial in terms of reliability as the cloud service provider helps to protect the

company’s data and systems by using multiple redundant sites. Making copies of data as a

backup is called redundancy. After experiencing problems like power failure, cloud technology

allows the business to access the backed up data stored in the cloud, allowing the company to

minimize both downtime and loss of productivity and overall allowing the company’s business

to run as usual in the shortest time possible. Cloud computing also benefit the company by

allowing it to have and maintain a competitive edge over other companies as all the data is

stored in the cloud and is easily accessible to the company, As compared to other company

that does not incorporate cloud computing which had to rely on tape backup and complicated

procedures to recover from unexpected problems which is a slow and laborious process. Thus

allowing the company to have an advantage over other companies.

Work Efficiency & Little to no maintenance

Another benefit of cloud technology is that it is able to improve work efficiency of the

company. Unlike passing the work to the next employee slowly through emails, Cloud

technology is able to provide an environment where a collaboration is possible and also the

ability to multi-tenant, allowing multiple employees to work and communicate on the same

data simultaneously and improving work efficiency. The company also benefit access to the

cloud does not require application installations onto the devices, in addition, cloud service

providers is responsible for the system maintenance, Allowing the company to free up IT Staffs

and re-assigning them to work on other important projects that are more critical to the

business.

Services Company can use in Cloud Computing Technology

Cloud Backup

One service that the company can use in cloud computing technology is the cloud backup

service. Cloud backup allows the company to backup data and information to a cloud-based

server, the stored data in the cloud can be accessed by employees of the company. Cloud

backup is able to provide benefits to the company such as scalability, being that it is cloud

based, cloud backup is capable of adjusting storage space to the company needs allowing the

company to be worry-free about limited storage space. Another important benefit is that it is

able to provide is disaster recovery, if unforeseen problems such as earthquakes occurs, as the

data is backed up by the cloud service provider, the company will suffer no loss of data,

allowing the company to be up and running at quickly as possible reducing the period of

inactivity. The backups are automatic and does not require the company to constantly perform

backup updates periodically. The downside of using cloud backup service is that the company

will not have full control over the data as it will be stored with the cloud service vendor which

may incur risk of unauthorised users looking at it. Therefore it is important to include

encryption of the data before sending it to the cloud, it is also important to check with the

vendor if he is able to include any encryption services such as local, transit and also server side

encryption.

Service Models

When venturing to use cloud computing technology, there are many services that the

company can use such as Software as a Service (SaaS), Platform as a Service (PaaS) and

Infrastructure as a Service (IaaS). Overall, to fully leverage on cloud computing technology, I

recommend using the Infrastructure as a Service (IaaS)

Software as a Service (SaaS)

Software as a Service (SaaS) is a service that allow hosting of company applications and data

on the cloud provider’s server and storage systems, consumers are able to access data in the

SaaS cloud using web browsers without any installation on the company’s computer. It uses

pay-as-you-use basis allowing the business to pay according to its usage of the service. There

are many advantages of using SaaS such as not having to purchase, install, update or maintain

any softwares as those will be handled by the service providers. As all data are stored in the

cloud, any device or computer with internet access are able to access it, Also, no data will be

lost if the device or computer breaks therefore preventing loss of data when physical disasters

happens. Another benefit of SaaS is that it is able to provide immediate solution for a specific

problem with no upfront investment. There are also many downside of using SaaS such as the

consumers have very little control over the application other than knowing who has access to

it. Although the consumer are able to change various configuration but often has no control

over the agreement with the service provider, maintenance and the infrastructure of the

service.

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Benefits of incorporating Cloud Computing Technology. There are many benefits of incorporating Cloud computing technology in the company, such as reducing overall capital expenditure of the company, having a secure database, and preventing data from being lost due to physical disasters. Money saving & Flexible Cloud computing is able to help the company to save cost being that it provides the company an alternative of not buying expensive physical hardware and software licenses. When comparing cloud technology to physical hardware, the company is able to benefit more when using cloud technology as it is able to provide s ame or more storage capacity at a much lower cost than physical hardware such as mainframe servers. It also eliminates wastage of storage space as the company only pays for the storage space it uses, unlike physical hardware which is often left with large unused storage space. Overall reducing expenditure for the company when compared to using physical hardware. In terms of flexibility, cloud computing is able to scale quickly according to the development of the company, it also promotes flexibility of work practices, enabling employees to access data from the cloud at any location, enabling him to ability to work off-site and promoting productivity. Reliable & Maintaining a competitive edge It is also beneficial in terms of reliability as the cloud service provider helps to protect the company’s data and systems by using multiple redundant sites. Makin ...
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