Cloud computing allows people to access applications or programs through the internet instead of downloading software on a computer or server at their location. Most people, whether they realize it or not, are already using the cloud to back up their iPhone, update their Facebook page, or access their bank from mobile devices.
In business, cloud-based software is quickly becoming the norm, with many software vendors moving towards offering cloud-only options. Businesses that replace conventional software with cloud-hosted platforms enjoy increased efficiency and lower costs while decreasing the workload on their IT departments. Many companies already depend on cloud-based solutions for sales, marketing, and data management through programs like Salesforce, HubSpot and ShareFile.
Cloud Benefits
- Applications can be deployed rapidly with cloud services. Implementations that would take months can be completed in weeks or even days.
- Cloud-based implementations do not require capital expenditures. There is no hardware required; you simply pay for using the software.
- Cloud services are easy to scale. Companies do not need to purchase new hardware to accommodate growth, they simply scale up cloud capacity by drawing on more host servers. If they experience a decrease in demand, they simply scale back by using less capacity.
- Cloud-based software has a low cost of ownership. Maintenance is managed by the software provider and does not require IT investment.
- Software updates are automatic and do not require end user input. The servers are offsite and updates are installed by the software company.
- Data is more secure, with layered security and audit logs to guard against inappropriate access. Lost or stolen laptops can be wiped remotely to ensure data stays secure.
- Data is more accessible. Because data is stored in the cloud, you can access it from any device.
What's Holding People Back?
Moving to the cloud makes good business sense, so why are companies still hesitating? Security concerns are the number one reason why companies avoid the cloud. The idea of having essential information offsite – and therefore out of company control – sparks discomfort. While security concerns make sense intuitively, the reality is that cloud providers have better security mechanisms because they know they are targets. These companies invest time, money and technology to plan for ways to avoid and counter attacks, much the way a bank invests more in security than a doughnut shop.
Cloud-based Solutions by Eka
Eka’s cloud-based software is a perfect example of how cloud hosting provides huge benefits to commodity trading companies. Conventional CTRM implementations require almost 50 steps – installing the system, synchronizing data, troubleshooting, testing, etc. – taking months. Eka’s cloud implementations require four steps – choose the cloud platform, configure the data, test the system, and go live – and can be completed in weeks. Eka’s cloud solution requires no additional hardware and no dedicated IT staff to implement. Eka support staff handle all maintenance, leaving company IT staff free to focus on other initiatives and Eka’s hosting helpdesk resolves any customer concerns quickly and effectively to ensure customer satisfaction remains high.
Cloud-based solutions offer companies tremendous value with very little downside. The time is right to move to the cloud.