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AcctTwo Blog

Dispelling the Myths about Cloud Computing

Oracle's Rex Wang Helps Clear up Some Misconceptions about the Cloud

Cloud computing is transforming the way businesses think about and leverage technology. As a result, the general understanding of cloud computing has come a long way in a short time. However, there are still many misconceptions about what cloud computing is and what it can do for businesses that adopt this game-changing computing model. In this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan, Rex Wang, Vice President of Product Marketing at Oracle, discusses and dispels some of the common myths about cloud computing that still exist today:

Article: Ten Myths of Cloud Computing

Cloud ComputingWang addresses some key myths and misconceptions that are particularly important when it comes to what we do at AcctTwo Shared Services and cloud-based accounting systems in general. Part of the confusion, according to Wang, starts with how broadly the term "cloud" is used. It can refer to such a broad range of systems and ideas, from the internet in general to email services, file systems, all the way to more specialized platforms, applications and infrastructure. Some of the myths we found particularly poignant include the notion that clouds lock you in, when in fact many cloud-based solutions, including AcctTwo's implementation of Intacct's software, provide strategies for data portability. Another myth is that all cloud solutions are pay-per-use, when most cloud providers, including AcctTwo, offer many different pricing options. Another very interesting myth Wang mentioned is that, "Cloud computing is all about cost reduction," when in reality, "cost savings is an important driver, but increasingly organizations are motivated by faster deployment and greater flexibility, agility and elasticity." Speed of deployment and flexibility are very definitely benefits of implementing Intacct's accounting solutions, as well as the potential for cost reduction.

Wang goes on to say that businesses and cloud-based providers should continue to evangelize the benefits and dispel the myths about the cloud. He also tells us to take heart: "I think an idea that we can all agree upon is that cloud computing is here to stay. Long gone is any talk of cloud just being a fad or trend. It has become pervasive technology and for many organizations the de facto computing model for new business applications. I'll add that cloud computing will continue to evolve and mature in the next few years. We are still in the early phases of the cloud computing evolution. As soon as you think cloud technology has reached steady-state, new concepts like social, mobile, or Big Data appear in the cloud and change the equation all over again."

 

About AcctTwo

AcctTwo is a leading consulting firm and reseller of cloud-based accounting and financial management software. AcctTwo’s sophisticated systems solve the issues growing middle market companies face today. AcctTwo also outsources back office processes, allowing clients to focus on the core competencies of their business. AcctTwo provides the people, processes, technology and office facilities to perform these functions, while allowing clients to collaborate interactively through an on-line portal.

AcctTwo is headquartered in Houston, Texas. For more information, please visit http://www.accttwo.com or call 713-744-8400. Connect with AcctTwo on LinkedIn, Twitter or Youtube.

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Topics: Blog information systems Intacct SaaS accounting outsourcing Cloud Computing / SaaS cloud Software as a service Cloud computing Accounting Software and Technology Industry Awareness