Cloud Computing is Revolutionizing Business Processes

Many industries are leveraging the power of cloud computing to revolutionize their processes, and the COVID-19 pandemic has further accelerated the need for software solutions that can be accessed remotely. Businesses are transitioning to more comprehensive digital processes with cloud solutions at their core. The most progressive organizations will be the ones that navigate this change rapidly, engaging with the right partners to augment their own capabilities.

What is Cloud Computing?

Cloud computing is a term used to describe the use of software delivered via network, typically the internet. The term originates from the cloud-shaped symbol traditionally used by flow charts and diagrams to symbolize the internet, representing the abstraction of complex infrastructure that enables the work of software, hardware, computation, and remote services.

In essence, cloud computing is computing based on the internet. In the past, people would run applications or programs from software downloaded to a physical computer or server within their building. Cloud computing now allows people access to the same kinds of applications through the internet.

Cloud computing is based on the premise that the main computing takes place on a remote machine that is not the one currently being used. Data collected during this process is stored and processed by remote servers (also called cloud servers). By hosting software, platforms, and databases remotely, the cloud servers free up the memory and computing power of individual computers.

Benefits of Cloud Computing

Today, cloud technology means that companies can easily scale, adapt, streamline operations, and reduce costs.  Cloud computing provides a litany of benefits to those that leverage the latest technology, regardless of the industry or context.

Cost Savings

Cost saving is considered one of the largest benefits of cloud computing. Because it does not require any physical hardware investments, cloud computing saves substantial capital cost. Also, there is no need for trained personnel to maintain the hardware because the purchase and management of equipment is performed by the cloud service provider. By leveraging cloud-based services, companies can contain both capital and operating expenditures.

Security

A reputable cloud host carefully monitors security at all times. This is significantly more efficient than a conventional in-house system where an organization must divide its attention between a myriad of IT concerns, security being only one of them. Cloud providers also encrypt data being transmitted over networks and stored in databases. By using encryption, information is less accessible by hackers or anyone not authorized to view data.

Scalability

The cloud offers almost limitless storage capacity. At any time, companies can quickly expand storage capacity at a nominal cost. This enables enterprises to efficiently scale up or down their IT bandwidth according to business demands without undergoing complex and costly updates to IT infrastructure.

This scalability also minimizes the risks associated with in-house operational issues and maintenance. Cloud solutions provide high-performance resources with professional solutions and zero up-front investment.

Mobility

Employees who are working on company premises or from remote locations can easily access all could services because cloud solutions are based online. All that users need is an Internet connectivity.

Remote access to cloud computing platforms also helps employees who are in different locations to collaborate in a convenient and secure manner. Collaboration is possible without a cloud-computing solution, but it will never be as simple or effective.

Insight

Many cloud-based solutions offer integrated cloud analytics for a holistic view of your data. With data stored in the cloud, businesses can easily implement tracking mechanisms and build customized reports to analyze information across their organization. Using those insights, organizations can increase efficiencies and build action plans to meet organizational goals.

Quality Control

Because all documents are stored in one place and in a single format in a cloud-based system, organizations can maintain data consistency despite large groups of people accessing the same information. This also leads to less human error and a clear record of any revisions or updates.

Disaster Recovery

Cloud-based services provide quick data recovery for all kinds of emergency scenarios, from natural disasters to power outages. Recovery of lost data can be a very time-consuming process, but storing data in the cloud guarantees that it is always available, even if equipment like laptops or PCs are damaged.

Cloud infrastructure can also help you with loss prevention. Companies that rely on a traditional on-premise approach have all of their data stored locally on office computers which are at risk of malfunction for many reasons, be it malware, viruses, hardware deterioration, or simple user error. Laptops offer additional risk because they are frequently misplaced or stolen. With a cloud-based server, all the information that has been uploaded to the cloud remains safe and easily accessible from any computer with an internet connection.

Automatic Software Updates

In the cloud, software integration is something that occurs automatically. Companies do not need to take additional efforts to customize and integrate their applications.

Cloud-based applications automatically refresh and update themselves, which avoids forcing an IT department to perform a manual organization-wide update. This saves valuable IT staff time and money spent on outside IT consultation.

Cloud Solutions from Lucasys

Lucasys is a leading developer of cloud solutions for asset-intensive industries, providing the tools needed to manage the complex tax, accounting, and regulatory demands that regulations demand.

The Lucasys suite of tools are cloud-native, meaning they were specifically designed to take advantage of the strengths of cloud computing. Because the Lucasys toolset was built in the cloud and for the cloud, clients know they can leverage every benefit that cloud computing can offer.

The agile cloud infrastructure Lucasys provides provides rapid access to secure and scalable solutions. Built-in analytics functionality allows customers to quickly generate business intelligence and predictive solutions to turn complex datasets into insights. Best-in-class security features allow customers to exceed compliance standards, and secure backup and recovery services protect critical data, reduce operational risk and meet regulatory requirements.

As always, the Lucasys team provides industry-leading consulting services for IT transformation, optimization, and reporting to ensure maximum use of the cloud computing environment. The Lucasys team understands the importance of meeting deadlines in the industry and is always available to address the needs of their customers.

To learn more about Lucasys cloud solutions and how they are advancing the capabilities of the utility industry visit https://www.lucasys.com/solutions.