Temat: CFOs and The Cloud. (tekst angielski)

CFOs and The Cloud. The Cloud is a hot topic for many in IT today, it is also an important topic for CFOs to be aware of and to understand the impact it can have on them

What is the Cloud?

“The Cloud” is short for “Cloud Computing”, which Wikipedia defines as the delivery of computing as a service rather than a product, where shared resources (software and data) are provided to computers and devices over the internet.

There are 2 options when it comes to the Cloud:
- Software as a Service (SAAS) – this is a licensed (per user) model, hosted by a solution provider.
- Infrastructure as a Service (IAAS) – this lesser known Cloud solution is more appropriate for larger companies. Essentially, the company is responsible for managing and installing the applications and data they use on remote computers and storage that is running remotely.

It is important for an organization to define which option is best for them.”.

What are challenges that CFOs face with the Cloud?

There are two types of challenges CFOs face with the Cloud. The first is that they know what the Cloud is, but are not sure where to start. The second type of CFO isn’t sure what the Cloud is, but their problems can be solved in the Cloud.

What are some of the benefits of the Cloud?

Cost and Cash Effectiveness – Paying per user allows for paying for what you need and use, as well as spreading IT costs over a period of time, without making an upfront investment in hardware and implementation. SAAS counters the ongoing uncontrolled costs of upkeep on an IT system installed on premises.

Self-Service – working with the Cloud allows the business user to have more control over their IT needs, and be less reliant on the IT department.

The Mobile CFO – The Superstar CFO: After the Crisis published by CFO Publishing in partnership with SAP, refers to The Mobile CFO. Most CFOs will admit that a lot of work does not happen at the office anymore. Having access to their data and information in the Cloud allows a CFO (and the finance team) to be more mobile, and possibly more effective.

Disaster Recovery and Business Continuity – Earthquakes, hurricanes and other natural disasters can have a strong negative impact on a business. Moving to the Cloud can allow for a business to continue in unfortunate times.

There have to be downsides to the Cloud. What are they?

Implementation risks – “Garbage in, Garbage Out” applies. We have all seen the impacts of a bad implementation. Becoming involved with the needs analysis and planning of implementation should lead to reducing implementation risk when it comes to the Cloud.

Security – Finance people are often able to better understand what they can see. Not having your computers and systems on-site can feel uncomfortable to a CFO. If the computer equipment is all locked up in a room, CFOs feel more secure.

Backup Recovery – Systems work. Most of the time. Sometimes they fail. Ensuring recovery via testing of backups is critical to any system implementation. The Cloud is no exception.

As CFO, you should not expect to be an IT expert. Understanding key IT concepts, such as the Cloud, will allow you to understand how you can better access the data and information you need to make more appropriate decisions.

Full text: http://blog.dergelcfo.com/