Hard drive data storage is rapidly turning into technologies of the past. Our foreseeable digital future is definitely located in the cloud. Cloud computing — with its powerful infrastructure, flexibility, and cost-efficiency — is the best alternative for every company that strives for better running and taking advantage of changing market conditions and new technologies.
Regardless of the industry focus, different companies are always striving for simplicity and automation in most of their processes. At the same time, they require data security and total control of their operations. Nowadays, the performance of these complex tasks mostly falls on the software. For many reasons, hard drive data storage is slowly losing its popularity, and the main promising direction for the future is cloud-based software development.
In this article, we are going to focus on cloud-based finance software.
Virtualization is the creation of virtual servers, infrastructures, devices and computing resources. Virtualization changes the hardware-software relations and is one of the foundational elements of cloud computing technology that helps utilize the capabilities of cloud computing to the full. Virtualization techniques allow companies to turn virtual their networks, storage, servers, data, desktops and applications.
Cloud computing has gained incredible popularity in recent years, and experts predict that this tendency will continue to grow in the near future. Indeed, companies that employ more than 1,000 people assume that their spending on migration to the cloud will go up in 2017. For example, the average budget will increase from 7.3% in 2016 to 33% in 2017 for organizations with 1,000 to 9,999 employees.