Cloud Computing: Advantages and Disadvantages

Cloud Computing: Advantages and Disadvantages

We currently run on a Windows NT server using Remote Terminal Services. It has worked like a charm and is instrumental in our daily operations. Unfortunately, it is coming to the end of it’s useful life. Our outsourced IT department has informed us that we should replace the system during the year. They are recommending that we go to their cloud computing system. We’re not sure.

Cloud Computing: Advantages and Disadvantages

Cloud computing seems all the rage right now. We have had our own local cloud computing system for the past six years. Now they are asking us to consider going to a “regional” cloud system. Google would like us to consider their “national” cloud system. I’m not sure I want our financial information floating around. Furthermore, what do we do if they go out of business or mess up our information. (Think ATT sidekick!).
The cloud computing advantages as I see them are: access from anywhere, secure backup, redundant systems in the event of national disasters, and limited upfront investment. The disadvantages of cloud computer are: control, security, and control. (Did I mention control?)
We have a client that is using a national cloud computing accounting system. The annual fee came up for renewal and the company demanded immediate payment. They would not finance the system like they had in the past. Our client was stuck. Also, the bill came due December 15. Not a good cutoff date.
As information has become more valuable and instrumental in our ability to service our clients I am not comfortable in outsourcing our servers. What are your thoughts? I would like to hear from anyone who has had any experience with cloud computing.
Download your free External Analysis whitepaper that guides you through overcoming obstacles and preparing how your company is going to react to external factors.
cloud computing
[box]Strategic CFO Lab Member Extra
Access your Projections Execution Plan in SCFO Lab. The step-by-step plan to get ahead of your cash flow.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]
cloud computing

ARTICLES YOU MIGHT LIKE

The Struggles of Private Company Accounting

Hiring the right accountant  When I meet a business owner operating at a successful $10 million in revenue, they often mention, “My CPA”… I immediately know that CEO/Entrepreneur is referring to their Tax CPA.  That is because one thing that all Entrepreneurs have in common is that they must file a tax return.  So, from

Read More »

IN CRISIS? GET A STRATEGIC CFO! – CEO Blindspots Podcast

Friend of the firm, Birgit Kamps, recently had Strategic CFO President, Dan Corredor, as a guest on her podcast, CEO Blindspots. CEO BLINDSPOTS HOST: Birgit Kamps. She was speaking five languages by the age of 10, and lived in five countries with her Dutch parents prior to becoming an American citizen. Birgit’s professional experience includes starting

Read More »

SHRM calls ICHRA the 401K for Group Health Benefits

Fed-up with group health insurance? ICHRA is the new way to offer great health benefits and avoid ACA penalties, SHRM calls it the 401K for group health benefits.  In 2020 the Department of Labor, HHS and IRS changed the rules for employer health benefits. They changed the Affordable Care Act mandates and penalties for every

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

SHARE THIS ARTICLE

JOIN THE NEXT STRATEGIC CFO™ SERIES

Strategic CFO™ Financial Leadership Workshop
The Art of the CFO®

Days
Hours
Min

September 12-15th 2022