HomeCloud Computing: What does eCREDO think of it and how does it benefit businesses?UncategorizedCloud Computing: What does eCREDO think of it and how does it benefit businesses?

Cloud Computing: What does eCREDO think of it and how does it benefit businesses?

One of the biggest trends of recent years in the field of technology, is the so-called cloud computing. However, what is this new useful service and why is it increasingly accepted?

When the Internet was first created, the word “cloud” was used to describe how complexly telephone networks were connected.

The Cloud is a computer model that includes servers, networks, storage, development tools, and even Internet applications.

Instead of organizations making significant investments in equipment purchases, staff training, and ongoing maintenance, some or all of these needs are met by a cloud service provider.

eCREDO uses cloud services in order to provide security, faster access to information and an assurance that our services can almost never be disrupted by technical problems in general. At a moment’s notice, the cloud provides us the opportunity to increase our provided bandwidth, our data handling capacity and our processing speed, something that would have taken days or even weeks before using cloud services.

Essentially cloud computing is the provision of on-demand computing services, from applications to storage and processing power, usually based on the pay-as-you-go method.

One advantage of using the cloud computing services is that companies can avoid the initial cost and complexity of owning and maintaining their own IT infrastructure. Instead, they just pay for what they use when they use it.

Cloud computing providers can provide the same services to a wide range of customers. Cloud computing services cover a wide range of options, from basic storage, networking and artificial intelligence, as well as standard office applications.

There are five key features of a cloud computing environment as defined by the National Institute of Standards and Technology (NIST).

Internet access

With a public cloud environment, users “connect” data and applications through an Internet connection, accessing them anytime, anywhere.

Measurable service

The Cloud is a pay-as-you-go service, where you only pay for what you use.

Think about how a utility company measures how much water or electricity one uses and charges based on consumption. The cloud works in about the same way.

On-demand self-service

Services can be requested and provided quickly, without the need for manual setup and configuration.

Resource sharing

The Cloud enables an effective peer-to-peer resource sharing. It often uses the multi-lease model. This means that a single application is shared to multiple users. Thus, instead of creating a copy of the application for each user, several users can customize the application to their specific needs.

Elasticity

The Cloud platforms are resilient. An organization can scale up its resource usage levels quickly and easily, whenever they need to.

However, not only businesses benefit from cloud computing. The Cloud has transformed our lives on an individual level.

Many of us use Cloud services every day when updating our social media status or checking our bank accounts. We probably use applications hosted by cloud services even when we are not aware of it. These applications are accessible via an Internet connection and not installed on our hard drives or devices.

Cloud computing can be developed in different ways, depending on the services a business needs.

The first thing to consider is the development model, which is divided into public cloud, private cloud, hybrid cloud and multi-cloud. Next is the service category, which is divided into SaaS (Software as a Service), PaaS (Platform as a Service) and IaaS (Infrastructure as a Service).

The exact benefits of cloud computing vary depending on the type of cloud service used, but essentially using cloud services means that companies do not have to buy or maintain their own computing infrastructure.

No need for servers, updating applications or operating systems, or decommissioning and discarding hardware or software when it is out of date, as everything is taken care of by the service provider.

Therefore cloud services may be able to provide a more secure and efficient service to end users.

Using cloud services means that companies can move faster on projects and try out concepts without long-term commissions and high initial costs, because companies only pay for the resources they consume.

The ability to create new services without the time and effort associated with traditional IT procurement means that it is easier to get started with new projects faster. And if a new application proves to be extremely popular, the resilient nature of the cloud means it’s easier to scale.

Switching to a cloud-hosted application for services such as email or CRM could eliminate the burden of internal IT staff, and if such applications do not produce a very competitive advantage, there will be little impact.

Switching to a cloud service model also shifts costs from Capital Expenditure (CapEx) to Operating Expenses (OPEX), which can be useful for some companies.

Cloud computing is not necessarily cheaper than other forms of computing, just as renting is not always cheaper than buying.

If an application has a regular and predictable requirement for computer services, it may be more economical to provide that service internally.

Some companies may be reluctant to host sensitive data on a service that is also used by competitors.

While it may be easy to get started with a new cloud application, transferring existing data or applications to the cloud can be much more complicated and expensive. And of course, you can only access your apps if you have an internet connection.

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eCREDO Limited with registration number HE394761, is an Electronic Money Institution licensed and regulated by the Central Bank of Cyprus with License no. 115.1.3.56/2023, operating under the brand name “eCREDO”, governed by in accordance with the laws of the Republic of Cyprus. We provide payment solutions using the “eCREDO” tradename under license. Our headquarters are in Limassol and our registered address is 21-23 Vasili Michailidi Street, 3026, Limassol, Cyprus.

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