Wednesday, March 4, 2015

Cloud Computing and the Future of Business: New Challenge for CPAs

Microsoft Onedrive, Apple ICloud, Microsoft Dynamics, Oracle and the like-- these are just a few of the large companies offering cloud services both to individuals and organizations.

If you do not know what cloud computing is, you can always refer, as most of us does, to google or dictionary.com for its definition.

Nevertheless, cloud computing covers a a very broad range of topics including the cloud-integrated Enterprise Resource Planning or Program (ERP) in which large companies nowadays such as Procter & Gamble and Citibank are continually investing huge amounts of their resources to stay competitive and strong; and the cloud storage which is most common to the general public.

In my own definition, cloud computing is doing business in the "cloud". The word cloud pertains to the World Wide Web or the Internet. Our businesses could range from saving important documents like bank transactions and reports to business processes like cash receipting and sales.

I could say that cloud technology is the future of "Everything". It will turn out one day that every single data entry in business processes are directly done through the cloud-- paperless, fast and automated. Even the groceries that you regularly buy, in the future will be done through the cloud and this is quickly changing the business practices on commodities.

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