Enterprise Cloud Technology Solutions

The emergence of cloud technology solutions has laid the ground for primary business tools. Here's how software development services providers are helping SMEs and bigger organizations succeed.

In 2016, enterprise cloud solutions have redefined the ways in which organizations are engaging with their employees. This crucial key business element has seen a phenomenal rise in the past few months and is poised for further growth before 2017 kicks in. Today, the eternal question that features in most enterprise IT departments is 'to cloud' or 'not to cloud.' In most cases, the decision to include cloud centric software development services is dependent on the legacy applications that dominate the everyday operations of organizations, globally.

Instead of creating unmanageable disruption, cloud technology solutions have created new and profitable paradigm shifts for ICT in diverse industry verticals. In case you are also looking to close the digital divide and drive innovations by deploying new applications, then, cloud solutions are what you should be looking at right away.

Rise of Enterprise Cloud Technology Solutions in 2016

Enterprise cloud benefits different organizations in different ways. From offering seamless performance and superior speed to ensuring efficient utilization of all IT resources, reduced IT operational infrastructure costs, migration from legacy systems, and more, software solution service providers are handling it all. This in turn has led to better management of the demand for different IT resources such as web services and applications.

One of the main reasons behind organizations opting for cloud computing relates to the safer computing environment that's created within the organization. This is possible through the use of virtual servers which are responsible for decreasing the threats of onsite intruder attacks. Cloud solutions for enterprises also offer flexible and reliable data security policies which aid better security decisions on the basis of varied factors; these are current access location, role of specific users within an enterprise, type of device in use, type of applications or data, etc.

Overall, the cloud serves to be the phenomenon that has managed to stir up tremendous interest and support in 2016. And the good news is that it is all set to reach a pinnacle of growth in future months. As per experts, to gain success, it is essential for organizations to understand the benefits of cloud-based systems in the current scenario, manage risks, and opt for innovation for creating a new order. It has become important for all enterprises, regardless of their nature and size, to leverage the rise of cloud technology solutions with a balanced approach. This will result in their transformation via effective IT.

In all probability, you are now ready to take full advantage of the different enterprise cloud capabilities and IT services that are applicable to your organization. Get in touch with the best cloud software solutions service providers to innovate and transform your business today.

E-Commerce Venture and Cloud Technology - A Case Study

John Grope, a veteran in e-commerce was running a profitable online venture selling women's clothing. However, he faced fierce competition from others. It was imperative that he reduce expenses and work with razor thin margins. John had heard of cloud technology from other sources. Though he was skeptical about venturing into new technology, he had no option but to have a closer look at the cloud.

The process of discovery

John Grope was a firm believer in the process of discovery. Though not a technical man himself, he appreciated the nuances of technology well - at least to the extent which affected his business. He also believed that automating processes can considerably reduce manpower requirements and lead to savings.

Automating online server administration

John could easily grasp the advantage of cloud technology as far as automating online server administration was concerned. Obviously, there are different ways in which cloud service providers present their management suite. But overall, the control panel provided by them could be managed by a junior technical staff.

Presently, John had employed four technical staff to oversee the server infrastructure. Managing fifty traditional online dedicated servers needed a senior server administrator and three junior hands for round-the-clock monitoring of server health. The risk of operating with only a single junior staff was unacceptable to John. Last year, just before Christmas, his peak sales period, his online servers had crashed leading to a loss of over ten million dollars in business, which he could ill afford.

The senior server administrator not only looked after the servers but also offered advice on increasing or decreasing number of servers and capacity. John also realized that servers came in different flavors and there was no standardization. Managing online infrastructure seemed more like a crazy art than technology.

John was told that cloud technology offered a solution to all his problems. The server instances were standardized and even John could understand the standard configurations. The control panel could be handled by a junior staff since issues like DNS, round robin and addition/ reduction in capacity could be automatically handled without human intervention. Managing four technical staff meant that they needed back-end support for preparing salary statements, accounting, taxes and meeting government statutory requirements. Cost could certainly be slashed if he opted for a cloud offering. On a yearly basis, John calculated that he could save over two million dollars.

Scalability advantage

John Grope knew very well that his was a cyclical business. Sales and profits bulged during Christmas, New Year and Valentines, while it lay supine during other times in the year. This situation created a piquant state of affairs. While his online business could normally make do with only a handful of servers, the time between December and February required more than fifty traditional servers. Scaling up meant paying for additional servers. John could never understand why they required fifty servers and why not forty or thirty. His senior server administrator advised him to err on the side of safety. John believed in the policy of 'Better safe than sorry'. With his experience he knew that cutting corners could cost him his business.

Load balancing, DNS configuration, capacity of servers and equally complex jargon left him confused. Cloud technology seemed to offer a neat solution.

What Is the Hybrid Cloud and How Can It Help Your Business?

Many companies are running on virtual networks that feature cloud computing. Cloud-based virtual networks offer a cost-effective way to have a high-performance and high-availability network that is independent of the underlying physical hardware, and they make it possible to increase capacity or add capabilities on the fly without the cost of expensive infrastructure upgrades, technical support training, or additional software licensing. Cloud computing manages computing needs through a subscription or pay-per-use service, so businesses can match their computing needs with their resources. Capacity can be increased along with business needs, and mission critical processing can be prioritized in the network.

A new type of cloud based virtual network is known as a hybrid cloud. A hybrid cloud integrates both a private, in-house network and public network. Hybrid clouds are usually formed in two ways: a business has a private cloud and forms a partnership with a public cloud provider, or a public cloud provider forms a partnership with a business that already runs a private cloud platform.

A hybrid cloud is a cloud computing environment in which an organization provides and manages some resources in-house and has others provided externally. For example, an organization might use a public cloud service for a specific need such as placing applications in the public cloud that are not cost effective to deploy in their private network, or that they do not have the skills to deploy. Other organizations may have a data center that is running out of power or space and they want to focus finite resources on business critical applications. The hybrid approach allows a business to take advantage of the scalability and cost-effectiveness that a public cloud computing environment offers without exposing in-house applications and data to public vulnerabilities. This type of cloud computing is also referred to as hybrid IT.

Another advantage of a hybrid cloud is it allows organizations to maintain a centralized governance of IT resources while taking advantage of cloud computing services where needed.

There are several forces driving the adoption of a hybrid cloud: an enterprise's need to maintain control of data, the cost effectiveness of cloud-based services such as virtual software and storage, and the ability of hybrid networks to respond as quickly as possible to rapidly changing business needs.

Organizations can utilize hybrid clouds in order to achieve a variety of goals. Hybrid clouds provide a way to experience the advantages of public cloud computing where needed without completely abandoning the benefits of a private network. Specific network infrastructure can be out-sourced to a public cloud environment, while the remainder of the network can be managed and maintained on premise.

Hybrid clouds also allow an organization to mix and match resources between local infrastructure, which is typically paid for but difficult to scale, with a virtual infrastructure that's scalable and can respond to changing demand. A company can also share applications and data between platforms without users even being aware.

For many organizations, the use of hybrid computing provides the best of both worlds. Considering the complexities of compliance issues, performance requirements, and security needs, some local governance of IT resources is desirable. At the same time, a hybrid cloud allows businesses to experience the numerous advantages that public cloud computing offers without the risk of completely shutting down their in-house network.

SAICA CEO, Dr Terence Nombembe - Discussion Paper: Considering mandatory audit firm rotation

SAICA has released a Discussion Paper: Considering mandatory audit firm rotation (and other related measures) as possible means of enhancing auditor independence.
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Get to Know BDO: The Audit and Tax Practices

BDO takes pride in hiring and developing students and recent graduates with exceptional skills and talent. For more information about BDO's campus recruiting process, visit http://mycareer.bdo.com.
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IRBA CEO, Bernard Agulhas - Discussion Paper: Considering mandatory audit firm rotation

SAICA has released a Discussion Paper: Considering mandatory audit firm rotation (and other related measures) as possible means of enhancing auditor independence.
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Internal Auditor Jobs - Which Audit Sector Suits You

The fields of corporate governance, internal audit jobs, accountancy positions and IT audit jobs still offer excellent career opportunities and given the increasingly international face of the corporate world means that there are audit jobs available almost anywhere in the UK and throughout Europe, though some areas offer more opportunities than others. Depending on the type of work that you're seeking, here's a quick look at where the audit jobs are around the UK.

Public Sector Audit Jobs
No matter where you want to live and work, you'll find that there are public sector audit jobs available. The demand in the public sector is greatest for internal audit positions, including both permanent and contract work, in positions from junior auditor to directors of internal audit departments. Check with recruitment firms and with local councils to find public sector jobs near to you - or wherever you'd rather live.

Audit Jobs in Financial Services Firms
If you want to work within a financial services firm, some of the best areas to be looking include London - of course - and in and around Brighton, where you'll find a number of financial services companies based. You'll also find a cluster of financial services firms that base their offices around Cornwall, Devon, Dorset and Wiltshire, and around Yorkshire, particularly West Yorkshire. In the southeast, there's a pool of financial services firms based in and around Bournemouth. In Scotland, you'll find a concentration of insurance, financial management and assets management firms in Glasgow and Edinburgh.

Retail Industry Audit Jobs
No matter where you live or want to work, you'll find audit jobs available in the retail industry. From the smallest hamlet to the bright lights of London to the seaside, there's always a demand for those who want to work within the financial audit end of retail.

Risk Management Jobs
One of the fastest growing segments of the auditing and financial industries is in risk management. The huge losses incurred by international companies in the 1990s highlighted the importance of risk management, and the rush to find qualified professionals who can identify, assess, monitor and report on risk factors and their effect on business is still driving the market and keeping salaries high. The best areas to find employment within the risk management specialty are those with a high concentration of financial services firms and the headquarters of large companies in any industry. London, Birmingham, Sussex and the capital cities offer the most opportunities, but there are positions open nearly everywhere in the UK for internal audit jobs concerned with risk management.

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Getting Ready for an Audit

Many organizations must undergo a regular financial audit by an external auditor. While the prospect of an audit can cause fear and trepidation for those being audited, this does not have to be the case. Knowing ahead of time what information the auditor is likely to ask for, and having that information organized and available before your first meeting with the auditor, will go a long way to ensuring a smooth and stress-free audit.

From the auditor's perspective, an audit engagement is made much easier when clients have properly gathered and organized all required information, and are able to provide it to the auditor in a timely manner. The auditor's job can then be completed more efficiently which can translate into fewer hours on the job, and potentially result in lower audit fees.

In preparation for the audit, and at least a month before the audit engagement is to commence, you should ask the auditor to supply you with a "shopping list" of information that he will require.

The standard monthly financial package should ideally contain much of the information that the auditor needs. Each month's financial package should contain supporting information for all balance sheet accounts. This would include for example detail aged A/R and A/P listings, capital asset depreciation schedules, and detail of prepaid expenses, deferred revenue and accrued liabilities accounts.

When the auditor arrives, you should ensure that:

the appropriate people will be there, such as the office manager, director, accountant and bookkeeper
all records are collected ahead of time (see below)
documentation is easily accessible and made available in an efficient manner, and
adequate time is scheduled for the visit
Information typically required for an external financial audit will include:

Employee contracts and payroll records
Bank statements, deposit books and invoices
Up-to-date general ledger
Lease, contracts for rental equipment, 3rd party agreements (includes contractors and consultants)
Up to date inventory list (if applicable)
Capital assets sub-ledger (if applicable)
Documentation of internal controls
Access to board minutes, contracts, by-laws, letters patent, supplementary letters patent, legal invoices and legal correspondence
On-site access to the bookkeeper or some other person who knows computer and filing systems
It is important that financial information is easily accessible. Whether in paper or electronic format, all financial records should be filed neatly and logically, for example in chronological order or alphabetical order. Original receipts and invoices should be available (credit cards statements and/or slips are not considered to be receipts or invoices). This would include original airline and train tickets, etc. Also, all records must be kept on site for as long as the law requires.

An audit can be very beneficial to the organization. You should use this opportunity to ask any questions, improve your internal controls and ensure that staff is aware of the rules governing the spending of your organization's funds.

Top 3 Reasons to Include Data Analytics in a Financial Audit

Data analytics has become indispensable to many industries. It is firmly embedded in the way a lot of companies to do business. Most companies use the power of data analytics to study customer behavior and manage progress of most business process. This provides opportunities for firms to offer services in this domain. One such service is the financial audit. Audit firms can really benefit from this opportunity as the technology evolves and advances in the coming times. However, listed below are the key reasons why the audit services providers should gravitate towards data analytics.

1. Volume of data - Traditionally firms offering services to review the financial data, traditionally used to just test data entries based on certain as it is not possible to go through all the data manually. This left a huge gap in the analysis that was done, even if performed by CPA certified professionals. The data analytics approach allows such teams to be able to test all the data extracted from their clients ERP systems and provide much more conclusive analysis in a much shorter turn-around time.

2. Sensitive Nature of the data - Recent times have shown how important it is to have proper checks and balances on the financial industries. Even small discrepancies over time can affect lives of numerous people just like it did during the financial crisis of 2008. Even at the level of public companies, it is important to ensure that the firms to do not engage in illegal financial activities in order to mislead the shareholders and stakeholders.

3. Additional Revenue Stream - Most firms are able to generate new revenue streams by promising much more comprehensive audit reviews for their clients. The inclusion of data analytics to support the audit approach allows for firms to offer a wide array of services to their clients. It serves both the firms and the clients well. It allows the firms to increase the scope of the audit and the clients can be informed by timely to take corrective actions.

Audit firms sit at a very advantageous position to benefit from all the advancements in the field of data analytics. Not only can they vastly improve their existing processes to provide much more conclusive analysis but also drive innovation to offer a variety of new services to their clients. It is a win-win for everyone involved in this game. It is just a matter of lining up the ducks.

Why Get a Forensic Loan Audit?

Most homeowners who are losing their homes are hopeless and feel powerless. They are instructed by banks that they will not be able to short sale their homes without ceasing to pay their mortgage payments, but that damages their credit and financially drags them down. With no help and little hope they face foreclosure and many finally have to file bankruptcy to end their own financial liabilities.

Is a forensic loan audit a possible solution?

The solution to this situation is called a forensic loan audit and can save many homeowners thousands and even tens of thousands of dollars quite easily. The basis for this is that 83% of lending institutions have been cited for "significant" compliance violations. This can mean incomplete disclosure or failing to failing to answer questions the buyer has about escrow accounts. Regardless of the severity, the buyer is entitle to certain information regarding their loan, and any lending company who does not permit it, is liable under various lending laws.

Who can benefit from a forensic loan audit?

Many homeowners simply get exhausted and stop paying their payment because they do not have a better strategy. My advice is to take the money that would normally go toward your payment and spend it on a forensic loan audit to make sure your lender has complied with the required laws. The loan auditing company will issue a report and pursue any damages due to the homeowner on a contingency fee basis most of the time, so it is frequently at no cost to the homeowner. Anyone who is having trouble paying for their home loan will benefit from getting one soon!