Cloud computing: services, benefits, and impact

In order to better clarify the concept of cloud computing, we can go back to a period of time before working with cloud computing, when everyone who wanted services related to storage or programming would go to purchase and follow them. Today, after the massive spread of the amounts of information and data to be stored and also to be sent quickly via Internet networks, cloud computing has become a safe haven for all facilities and institutions. The role of cloud computing is not limited to companies and organizations; it also serves individuals greatly. You can book hotels, request a taxi, and download educational content all through cloud computing.

Types of cloud computing

Cloud computing consists of three different types, which we mention as follows:

Public cloud computing

Public cloud computing means that all service providers and the infrastructure for receiving, storing, and displaying data are located at the provider’s headquarters and are accessed by subscribers via the Internet. Public cloud computing is not considered suitable for all establishments that require greater data confidentiality, such as healthcare institutions, financial institutions, and banks, as it provides the greatest amount of insurance coverage for customer and patient data.

Private cloud computing

Private cloud computing means that it belongs to only one organization and can be hosted by the service provider. It is used in facilities that have a distinctive nature in maintaining the confidentiality of their customers. It also provides higher rates of security for its users, as all data and information are isolated and supervised by one organization.

Hybrid cloud computing

It is a combination of public and private cloud computing, so it benefits from the advantages of both types. It is the merging of data and information in institutions that have the same characteristics, for example, the participation of service institutions or those that provide the same commodity. It is intended for organizations to collaborate in storing their data via hybrid cloud computing.

Cloud computing services and benefits

The benefits and services provided by cloud computing to companies are numerous and have now become indispensable for economic entities and large financial institutions. We mention these services as follows:

Quick access from anywhere, from any device

The use of the facility’s software is not linked to the person’s presence inside the facility to do his work, but rather the data and information are stored and available on the Internet so that users can quickly access and complete all their work easily.

Dispose of cables, devices, and storage units.

From today on, you no longer need computers with high storage capacity, and you will get rid of cables, wires, backup generators, and network switches in exchange for subscribing to the cloud computing service, in addition to the significant reduction in costs.

Complete security of the facility’s data and information

In the past, you were looking for backup copies through which you could save your company’s data and information, and the consequences would be dire if the original and backup storage units were destroyed by any accident that might occur. As for cloud computing, data and information are completely safe because they are not stored in a tangible physical medium but rather on the global Internet and with a service provider who enjoys a high degree of security and confidentiality. Two-factor authentication processes are also carried out, and cloud backups are performed until the information security process is complete.

Faster performance and higher technologies

Through cloud computing, you can obtain faster performance in data entry and continuous feeding of programs, thus fulfilling requests will be faster, and the facility will achieve greater gains and higher technical technologies as it allows you complete flexibility in modifying and changing data, which does not affect the breakdown of the organization’s program.

Rapid deployment of applications

Some tasks often require rapid deployment of some enterprise application links. In a normal case, the matter will be very expensive and cumbersome, and the organization can contract to purchase servers that serve the deployment of applications faster. However, with cloud computing, this is done very easily without the need to purchase servers and without the need to contract with employees.

Make decisions faster.

Before the advent of cloud computing, decision-makers within companies used to wait a long time to collect data and information through which they could make the right decision. However, after the emergence of cloud computing, data and information became available in real time, and decision-makers could see them as soon as they entered the facility’s system, as it has highly technical and advanced systems.

Saving expenses and costs

If we want to calculate the costs of the facility before the existence of cloud computing, we can say that there must be huge devices that can accommodate the amount of data and information, as well as backup copies of the data if it is damaged. It also requires appointing those responsible for the program that the company’s employees are working on and connecting users to the presence of a qualified work environment. All of these costs have been saved by cloud computing.

Cloud computing components

Cloud computing consists of five main components, which we mention as follows:

• The application is the software that we use to access the service provider, such as the GMAIL application.
• The customer is represented by either a person or an organization and is the one who rents the service from the service provider.
• The platform provides you with the ability to download the application, supports all its files, and saves the data and information stored on it.
• Infrastructure is the set of technical tools that the service provider has in order to perform its work, process data, and solve problems that may arise among users.
• The service itself is the service provided by cloud computing, such as sending files, editing images, or other applications.

 

Qoyod program as a model for cloud computing for financial institutions

A practical example and an illustrative model of cloud computing services is the Qoyod program, which provides comprehensive management of commercial calculations and serves many sectors, which are not limited to sectors of a commercial nature but go beyond that by serving the industrial sector. It provides services for entering and saving data, making accounting journal entries, posting to consolidated books, preparing financial statements, making profit and loss accounts, issuing invoices, and providing a comprehensive report on sales and inventory control. We will present the most important services provided in each of the following sectors:

Retail sector

• Controlling cash movements to and from the facility and reviewing the fund and bank accounts.
• Follow up on inventory movement, create a real-time balance after the sale of goods, record purchase invoices from suppliers, follow up on collection, and follow up on payment and checks owed by the facility.
• Follow up on sales representatives and make an inventory of each representative’s sales.
• The ability to assist the facility manager in creating exclusive offers and discounts for customers.

Contracting sector

• Create a specialized cost center for each project separately if the facility works on more than one project.
• Assisting in presenting and evaluating suppliers, periodically following up on checks issued as payments to suppliers, and following up on payment, whether cash payment, bank payment, or electronic payment.
• Creating a customer database, arranging customers in terms of dealing with the facility from the most to the least, and following up on collection payments from customers, checks owed by them, and amounts owed to the facility.
• Determine the validity of users for the Qoyod program, as it accommodates an unlimited number of users. It is a cloud program that you can access and work on from anywhere.
• The Qoyod Free Trial program offers an upgraded version of the program for fourteen days at no charge.

 

Service sector

• Add all services in easy steps and create a database that includes all the services provided with their prices, in addition to creating special offers and discounts.
• Creating a customer database and periodically following up on collections.
• Periodic follow-up of each employee’s sales. The program allows for a user to work for each employee, so that the employee’s name appears on every sales invoice, and thus the employee’s performance is monitored through the program.
• Preparing financial statements that are constantly updated so that decision-makers within the service facility can view them. The program also provides an income statement, a cash flow list, purchase orders, and sales invoices.

Liberal professions sector (lawyers)

• Adding and providing services to customers.
• Immediate follow-up of cases and arranging urgent cases.
• Create a special account for each lawyer within the office.
• A detailed database of customers.
• Preparing comprehensive financial reports and following up on collections from clients.

Technical sector

• Qoyod adds all the technical services very easily.
• The names of the employees are determined, and their names are placed on the user files in the program so that the current user is the employee and the name of the employee is written.
• Creating a rewards system for employees according to their productivity at work.
• Maintaining a customer database and constantly updating financial reports.

Conclusion

Through the previous few lines, we learned about a simplified and comprehensive definition of cloud computing, the services it provides, and the most important benefits it provides to enterprises and individuals. We also learned about the basic components of cloud computing. We have taken a model to illustrate the concept, which is the Qoyod accounting program, which is an online cloud program, and we hope that we have succeeded in presenting this.