MENUMENU
  • FREE RESOURCES
        • Accounts Payable
          Finally! The trick to securing greater T&E compliance
          Benefits
          Rooting out folks who don’t belong on your health plan: A 6-point dependent audit checklist
          IT
          3 costly misconceptions about biz email compromise
          Credit and Collections
          Collecting via email: 4 must-make moves in your subject line
          Accounts Payable
          5 Tough-to-spot signs that an invoice is fake
  • PREMIUM CONTENT
        • Staff management
          120 Proven Communications Tips for Today’s CFO
        • Payroll
          Handling Nonexempt Employee Pay: Stay Compliant and Avoid DOL Audits
          Accounts Payable
          T&E Best Practices: Complete Guide to Ensure Compliance
          Payroll
          Payroll Best Practices: 4 Ways to Save Time and Money
        • Staff management
          Email Best Practices: A 6-Question Quiz
          Staff management
          Innovative Communications Strategies: An Email Case Study
          Staff management
          A 5-part Framework for Successful Workplace Communications
        • SEE MORE
          PREMIUM RESOURCES
  • CORONAVIRUS RESOURCES
  • LOGIN
  • SIGN UP FREE

CFO Daily News

MENUMENU
  • FREE RESOURCES
        • Accounts Payable
          Finally! The trick to securing greater T&E compliance
          Benefits
          Rooting out folks who don’t belong on your health plan: A 6-point dependent audit checklist
          IT
          3 costly misconceptions about biz email compromise
          Credit and Collections
          Collecting via email: 4 must-make moves in your subject line
          Accounts Payable
          5 Tough-to-spot signs that an invoice is fake
  • PREMIUM CONTENT
        • Staff management
          120 Proven Communications Tips for Today’s CFO
        • Payroll
          Handling Nonexempt Employee Pay: Stay Compliant and Avoid DOL Audits
          Accounts Payable
          T&E Best Practices: Complete Guide to Ensure Compliance
          Payroll
          Payroll Best Practices: 4 Ways to Save Time and Money
        • Staff management
          Email Best Practices: A 6-Question Quiz
          Staff management
          Innovative Communications Strategies: An Email Case Study
          Staff management
          A 5-part Framework for Successful Workplace Communications
        • SEE MORE
          PREMIUM RESOURCES
  • CORONAVIRUS RESOURCES
  • Accounts Payable
  • Credit and Collections
  • Payroll
  • Accounting
  • Benefits
  • Finance Technology
  • More
    • Employment Law
    • Strategy
    • Policy and Culture
    • Fraud
    • Payments and Transactions
    • Budgeting and Forecasting
    • Banking
    • Staff Management
    • Cost Control
    • Supply Chain
    • IT

Cloud computing may not be the answer

Rich Coleman
by Rich Coleman
February 13, 2013
  • Accounting
2 minute read
  • SHARE ON

Security has always been an issue with the cloud, but there are new factors at work that are driving dissatisfaction and presenting new challenges.

Though many businesses are turning to cloud computing to increase their flexibility and cut costs, a new study shows that the opposite is happening. KPMG’s Global Cloud Report surveyed 674 business and IT executives and 48% expect cloud computing to cut IT costs, while 33% said the cloud computing project cost more than they’d initially planned for.

IT Managers have also expressed concerns with the cloud, as we reported recently. They like the cloud for their businesses, but for personal files, it’s a different story.

Execs also said they hoped cloud computing would make IT costs more predictable. Since cloud services mostly use subscription services, this should be able to help Finance more accurately forecast. But most cloud services are scalable for each business, meaning they offer different levels of service tailored to a certain business. Because of that, 26% of businesses said that a lack of visibility into their future needs made it difficult to make costs predictable.

But costs weren’t the only driving factor for integrating a cloud computing system over maintaining a traditional system. Other challenges found in the study:

  • 31% said integrating cloud services with existing architecture was difficult
  • 30% said avoiding data loss and protecting privacy was a challenge
  • 30% were concerned about losing control over their IT infrastructure, and
  • 26% said there is a lack of standards and interoperability between cloud computing providers.

The good news: It is possible to see positives

It isn’t out of the question to get the benefits out of cloud computing. Cost-reduction and productivity-boosts can happen. After all, 70% of organizations said cloud services have delivered cost savings and improved efficiency.

Here are some key steps to achieving those benefits:

  • Don’t expect overnight success: The cloud won’t completely eliminate the need for maintenance from IT. They’ll have to spend time moving data and aiding staffers in any complications. Managing cloud vendors and contracts will also be key.
  • Stay secure: Data security is one of the biggest concerns for cloud computing and a security breach could negate any positives you get from the cloud. Talk to IT about security efforts they’ve implemented – data encryption, managing user access and backup/recovery of data are all good signs.
  • Train everyone: When workflow changes in any department, there can be a productivity drop. If Finance has plans to face a whole new cloud-based accounting system, for instance, try to get as much training in as you can before IT makes the complete switch.

Do you have any cloud-computing tips? Let us know in the comments below.

 

 

Keep Up To Date with the Latest Finance News

With CFO Daily News arriving in your inbox, you will never miss critical stories on accounting, benefits, payroll & employment law strategies.

Sign up for a free CFO Daily News membership and get our newsletter!
  • This field is for validation purposes and should be left unchanged.
CFO Daily News Logo
  • ABOUT CFO DAILY NEWS
  • ADVERTISE WITH US
  • WRITE FOR US
  • CONTACT
  • Accounting
  • Benefits
  • Payroll
  • Policy and Culture
  • Employment Law
  • Fraud
  • Finance Technology
  • Accounts Payable
  • Credit and Collections
  • Strategy
  • Payments and Transactions
  • Budgeting and Forecasting
  • Banking
  • Staff Management
  • Cost Control
  • Supply Chain
  • IT

CFO Daily News, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day’s headlines, CFO Daily News delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

Privacy Policy Terms of Service
Copyright © 2021 SuccessFuel

WELCOME BACK!

Enter your username and password below to log in

Forget Your Username or Password?

Reset Password

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.

Log In

preloader