Lawrence Teicher, founder of CFO Consulting Services, a part time CFO services company, responds to an article published by Mashable on September 6th, which reveals how cloud computing systems can save businesses money.
According to the Mashable article titled "How Data Analysis Boosts Productivity," moving an entire company to a cloud computing system is a difficult process, but the advantages are widespread. Large corporations typically rent data storage space, whereas small businesses keep their data securely locked on premises. However, maintaining data centers costs a lot of money. Businesses have to pay IT managers, maintenance fees, networking, and electricity when they rent data space.
"When businesses keep their data in a data center, they are basically buying space -- then they have to buy their own equipment, pay for networking, power & cooling, electricity and have a contract in place - as you can imagine, the costs add up," the article says.
Instead, the article says cloud-hosting systems have less expensive startup fees and make it easier for companies to preserve capital.
Lawrence Teicher, founder of CFO Consulting Services, says CFOs should look into implementing some sort of cloud-hosting system.
"For a small business, and even a large business, it's important to look at ways to cut costs, especially as budget season approaches," he says. "When companies create their own data centers, they are incurring many significant costs. With cloud hosting systems, employees can work more efficiently, which boosts productivity. It also eliminates costs for extra IT workers and maintenance fees. Cloud based systems automatically update their software and provide off site back ups. Two headaches that always exist with in-house data centers.. If your company needs to shed some extra costs and is looking at upgrading its systems, you might want to consider implementing a cloud based system."
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by Long Island CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.
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