Cloud computing means that instead of all the computer hardware and software you’re using sitting on your desktop, or somewhere inside your company’s network, it’s provided for you as a service by another company and accessed over the Internet, usually in a completely seamless manner. Exactly where the hardware and software are located and how it all works doesn’t matter to you, as long as it is secure and accessible.
Cloud computing enables companies to consume computer resources as a utility, just like electricity, rather than having to build and maintain computing infrastructures in-house.
Why Use the Cloud for Applications?
There are many compelling reasons to consider a cloud implementation, at least for a portion of your company’s operations. Here are some major considerations.
1. Better Infrastructure
Universal access – Cloud computing can allow remotely located employees to access applications and work via the internet on a variety of devices, i.e. laptop, tablet, smartphone.
Up to date software – A cloud provider will be able to upgrade software keeping in mind feedback from previous software releases.
Security – This is a core competency of Cloud providers. They take more defensive measures – staff & resources – dedicated to the security of the data and applications than a typical company.
Scalability – A growing (or shrinking) company can scale their services up or down, whenever they need them without investing in additional infrastructure.
Disaster Recovery and Backup – With your company’s data safely stored on secure data centers instead of your server room, losing power due to unforeseen disasters, you are back at work as long as you have an internet connection.
2. Better Meet Business Needs
Reduction of costs – unlike on-site hosting the price of deploying applications in the cloud can be less due to lower hardware costs from more effective use of physical resources.
Leveling the playing field – Cloud computing levels the playing field between large and small companies with a “pay-for-what-you-use” model. Small to medium sized companies no longer need to shell out big bucks in order to buy IT infrastructure that is comparable to large companies. Now they can just rent what they need in the cloud.
Environmental Benefits – Due to economies of scale, the average amount of energy needed for activity carried out in the cloud is far less than the average amount for an on-site deployment.
Why Use Enterprise Performance Management in the Cloud?
Although enterprise performance management (EPM) solutions in general can help organizations become more agile, cloud-based EPM solutions provide key advantages over on-premises solutions when it comes to business agility.
There’s no need for hardware and other infrastructure, which means a faster deployment process and companies get running with an initial solution within weeks. Cloud services are highly scalable and you only pay for what you need with subscription pricing.
In addition, users can access information from any device, from anywhere, which leads to increased collaboration among employees. In the unlikely event of a disaster, the recovery and backup process is faster and requires less IT involvement.
These advantages to having your enterprise performance management (EPM) suite in the cloud should make any company or IT department consider using this approach. If you would like to know more about implementing an EPM in the cloud or transitioning your EPM to the cloud, contact us for a free consultation.