Home Finance How Cloud Computing Saves Businesses Money

How Cloud Computing Saves Businesses Money

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Cloud computing continues to evolve, and with it, cost savings continue to grow. Because cloud computing basically outsources a lot of complicated networking tasks, businesses of all sizes are finding that turning to the cloud means less money spent on information technology services, expensive hardware and costly monitoring and upgrades.

An example of this can be seen in financial companies that turn to the turret as a service. When sourcing trading turrets you will find they typically involve a hosted trader platform that takes care of the routing and other networking duties. This allows financial companies to bypass a lot of the traditional IT work that comes along with setting up in-house networks. It also reduces the need to spend capital on monitoring networks, maintaining hardware and making changes to and upgrading networking software.

Save Money On Shipping And Travel

Aside from saving money on IT personnel and computer equipment, cloud computing can also save money on travel expenses and shipping. Today’s business environment is global, and many businesses need remote access to digital equipment and software on the go. This can mean renting out space when travelling or purchasing extra equipment that may only be used temporarily.

With cloud computing, many of these digital tools and pieces of software can be accessed from remote locations using laptops or even smartphones or tablets. If you run a financial services company, travel might necessitate the rental of a phone bank system for your team to use from a remote location while out of the office. Using a hosted trader voice solution in the cloud, you can remotely access a range of communication tools from anywhere that an Internet connection is present.

Getting Started With The Cloud

Getting started with cloud computing is a fairly simple process, but the difficulty level faced by each business comes down to industry needs. Continuing with the financial services example, cloud-hosted trader voice solutions tend to be easy to get set up, but trading turrets may be a bit more complex. This is due to the need to route turret lines to the proper channels for connecting each line of the turret.

Likewise, storing data in the cloud is usually an easy process whereby data is uploaded from a local computer to an online account via the Internet. Software-as-a-service cloud computing solutions tend to be trickier as these types of solutions rely on remote computers running software for a client computer locally. There are a number of things to match in this equation, including processing power on both machines, Internet connection speeds and connection stability and routing.

Public Or Private Cloud?

Something else to consider when thinking about moving your operations to the cloud is whether or not you will benefit more from utilizing a public or private cloud. A public cloud is a network of computers that is accessible via the Internet and is provided and hosted by a third-party vendor. An example of a public cloud would be Amazon’s AWS services.

A private cloud, on the other hand, is usually a cloud network hosted by your organization, but it is only used by your organization. Having your own private cloud may cost more, but it will also give your organization greater control. In general, private cloud servers experience less load compared to public cloud servers because they aren’t utilized nearly as heavily. This can equate to greater up-time and response rates, but this varies based on your organization’s usage.

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