Pages:15 (4615 words)
Document Type:Research Paper
Corporations of all sizes in the accounting industry, in addition to other industries such as retail, information technology, insurance, and media industries, capitalize on public cloud services. The steadily advancing features of the cloud, including infinite and unrestricted storage and powerful analytic tools, system infrastructure software, various accounting applications in addition to enterprise resource management and customer relationship management, play a pivotal role in everyday business operations. Significantly, in the contemporary setting, companies and entrepreneurs in the accounting sector are no longer constantly installing software apps on their computers or computer systems situated within the premises to operate their businesses. Rather, they are opting for the cloud. Cloud computing is facilitating substantial agility for companies. The advantages of solely paying for the software and hardware services utilized and also leveraging on the cutting-edge technologies enable the companies to improve their digital operations and aid them in innovation and, subsequently, success in the market.
Significance of the Topic
Cloud computing continues to be a significant topic in the accounting industry, owing to its ease in the level of flexibility, scalability, and simplicity of gaining access to systems across the world. Whereas customary IT structures can preclude an accounting organization’s capability of conducting business operations productively, cloud computing can facilitate a greater level of control and data backup, security accessibilities and also enables the accounting enterprises in business diversification. Numerous accounting organizations are shifting towards cloud computing owing to the reason that they presently understand the benefits facilitated, including increased mobility and heightened satisfactory interactions with consumers. Furthermore, rather than spending massive amounts of money on investing in servers, storage, and IT assets, progressively, more accounting organizations are emphasizing cloud computing because they can focus on various elements of their business operations when implementing the accounting software on the cloud platform. Furthermore, personnel and managers of the accounting organizations can gain accessibility to the cloud infrastructure at any given the time of day and from varying geographical areas. Ultimately, this provides the organization with a competitive advantage because the business operations continue running smoothly.
In the present day, the advancement of globalization has significantly increased the level of competition in industries and sectors. Multinational companies in different sectors, including the accounting industry, have business operations across the globe. However, there is increasing competition from both local and international businesses. Also, the advancement of technology has intensified the level of competition, prompting organizations to seek out competitive advantages. Significantly, competitive advantages do not simply emanate in one distinctive form, but rather they come about from different areas. A fundamental area in which companies are seeking out advantages over market rivals is cost. A cost-effective structure has numerous advantages for organizations. A company can weaken its rivals and have a greater level of profits generated by diminishing the costs incurred. Cloud computing has become one of the key ways in which accounting organizations have sought to have a competitive advantage over their market rivals.
The following research questions will guide the research study:
1. What is the applicability of cloud computing in accounting organizations?
2. How do cloud computing services facilitate cost-effectiveness?
3. What are the various ways that cloud computing generates cost savings for accounting organizations?
Purpose of the Study
This study’s purpose is to comprehensively examine the impact of implementing cloud computing services to an accounting organization in terms of cost-effectiveness.
The qualitative approach will be utilized in the research study. The data employed for this research study will be collected through interviews. These will be administered using structured interviews that will be undertaken through different avenues, e-mail, post, telephone, and Skype.
Good Title for Study
A suitable title for the study would be The cost-effectiveness of cloud computing within an accounting organization.
Cloud Computing Definition
Cloud computing is delineated as a computing capability that facilitates a construct between the computing resource and its fundamental technical construction and design, facilitating expedient, on-demand network accessibility to a collective group of configurable computing resources that can be quickly provided and divulged with negligible management struggle or service provider contact. This basic definition of cloud computing accentuates the five fundamental features, which include on-demand self-service, wide-ranging network accessibility, resource sharing, rapid elasticity, and services that are measured (Yarlikas and Bilgen, 2015).
Types of Cloud Computing Services
There are three most frequently and extensively embraced cloud computing services, including infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).
Infrastructure as a Service (IaaS)
This is a cloud computing model in which virtual infrastructure is provided and managed by external cloud providers for the organization. Concerning infrastructure as a Service, organizations can outsource for data and information storages, various services, data centers, in addition to different constituents for data networking, all of which are connected over the internet and provide the same kinds of services and functionalities as the infrastructure physically situated within the corporate premises. Fitting examples of the extensive usage of infrastructure as a Service are automatic and policy-oriented operations like internal networking, data recovery, backup services, and also website hosting. In this type of cloud computing service, it is the service provider that is fully liable for the construction of the servers and the storage centers, networking services, and installation of security and computer firewalls, and also physical data spaces and centers that are situated within the organizational buildings. Some of the renowned IaaS service providers include Google Cloud Platform and also Amazon EC2 (Mehmood, Katib, and Chlamtac, 2020).
Platform as a Service (PaaS)
Notably, Platform as a Service advances its services from Information as a Service. In this particular case, the vendor of cloud services partake in the delivery and rendering of computing resources, both cloud software and hardware infrastructure constituents such as operating systems, necessitated for developing, testing, and advancing applications. The Platform as a Service setting facilitates cloud users, obtaining their level of accessibility through different webpages, in order to partake in the installation and hosting of various data sets, development of implements and applications for business analysis, in addition to constructing and preserving essential hardware (Prabhu, 2015).
Software as a Service (SaaS)
This type of cloud computing service is distinctive in the sense that it includes both Platform as a Services (PaaS) and Infrastructure as a Service (IaaS). In this particular case, the cloud service provider is responsible for the delivery of the whole software suite. A fitting example is a pay-per-use model whereby the organization solely pays for the software and hardware services utilized. Software as a Service enables the users to gain simple accessibility to software applications over the internet, for instance, electronic mail, and accounting worksheets. For example, one of the most renowned examples of SaaS is Microsoft Office 360, which encompasses different applications such as Microsoft Word and Microsoft Excel over the internet. SAP and Oracle Cloud are other fitting examples (Jamsa, 2016).
Deployment of Organizational Cloud Services
Cloud computing services can be deployed to accounting organizations…
…withdraw their participation at any point they desire devoid of any sort of consequences (Saunders, Lewis, and Thornhill, 2015).
An additional ethical consideration integrated into the study is privacy and confidentiality. To begin with, the researcher will guarantee that no personal data and information from the research participants will be divulged. Any personally identifiable information of the respondents will not be included in the final report. Also, the researcher will guarantee the participants that all data and information obtained from the interview sessions would be exclusively and solely utilized for academic purposes. Imperatively, the research study will be undertaken in line with the pertinent rules on privacy and safeguarding of data. Any individually distinguishable details will not be exposed to any third party. Moreover, no financial incentives or bribes will be offered to any research participants to be involved (Queirós, Faria, & Almeida, 2017).
Data Analysis Plan & Rationale
Data analysis in a qualitative study is largely dissimilar to a quantitative study. Data analysis is the systematic organization and amalgamation of the research data and the testing of the research hypothesis by capitalizing on those data. What is more, it encompasses grouping, ordering, manipulating, as well as summarizing the data and delineating them in meaningful terms (Saunders, Lewis, and Thornhill, 2015). From a quantitative standpoint, the data analysis process will begin by transcribing the interview responses obtained from the interview sessions. Transcribing the responses obtained will be necessary for ensuring that specific codes are notable from all the data. The researcher will carry out coding by highlighting parts of the transcripts and coming up with codes to delineate their content. After that, the process encompasses determining patterns amongst them and generating themes (Maguire and Delahunt, 2017). The subsequent phase is thematic analysis. This will include prudent and comprehensive scrutiny of the data to determine perceptible themes that are common from all of the responses. These themes will, after that, be tied back to the existing literature carried out in the endeavor to answer the different research questions that were initially formulated to answer the research topic.
Contributions to Theory or Practice and their Significance
The findings for this research study will provide a significant contribution to both theory and practice. From a theoretical standpoint, the study findings will be a major addition to the literature associated with cloud computing and cost-effectiveness. The findings of this research will seek to fill the existing research gaps in the literature in addition to providing an updated finding on the research topic. From a practical standpoint, the study findings will significantly contribute to different players. First and foremost, the study’s findings will be largely beneficial to accounting organizations. In the present day competitive accounting world, progressively, more companies are seeking to achieve a competitive advantage through cost savings. This enables companies to become more successful in the market through greater profits. The findings of the study will demonstrate that through the espousal and execution of cloud computing services, accounting firms will be able to save on their outlays and accomplish increased efficacies. The findings will show accounting firms that by practically applying cloud computing, they will be able to save on costs in different ways, including greater levels of flexibility and scalability, and energy efficiencies. Also, the ability to attain remote accessibility of the files and folders ensures that the organizations can run their business smoothly at all times. Furthermore, it implies that through cloud computing, the organizations will cut back on hiring in-house IT personnel and also decrease the required investment in procuring data centers, servers, and also fewer…
Bauer, E., & Adams, R. (2015). Reliability and availability of cloud computing. Hoboken: John Wiley & Sons.
Chang, W. Y., Abu-Amara, H., & Sanford, J. F. (2018). Transforming enterprise cloud services. New York: Springer Science & Business Media.
Chang, V. (Ed.). (2015). Delivery and adoption of cloud computing Services in Contemporary Organizations. IGI Global.
Hsien, W. F., Yang, C. C., & Hwang, M. S. (2016). A Survey of Public Auditing for Secure Data Storage in Cloud Computing. IJ Network Security, 18(1), 133-142.
Jamsa, K. (2016). Cloud computing. New York: Jones & Bartlett Publishers.
Maguire, M., & Delahunt, B. (2017). Doing a thematic analysis: A practical, step-by-step guide for learning and teaching scholars. AISHE-J: The All Ireland Journal of Teaching and Learning in Higher Education, 9(3).
Mehmood, R., Katib, S. S. I., & Chlamtac, I. (2020). Smart Infrastructure and Applications. New York: Springer International Publishing.
Prabhu, C. S. R. (2015). E-governance: concepts and case studies. New Delhi: PHI Learning Pvt. Ltd.
Cloud Computing and Organizational Cost Management The contemporary market trends have put a lot of pressure on many businesses to cut down on their spending and unnecessary costs using any reasonable measure. The globalization and the emerging trends in business demand that for any business to stand a chance to grow and expand across borders, it has to both adopt the current technology and do so at a reasonable cost that
Risk, Risk Management Strategies, and Benefits in Cloud Computing SITUATIONAL ANALYSIS PREMISE STATEMENT KEY DEFINITIONS SERVICE AND DEPLOYMENT MODELS BENEFITS OF CLOUD COMPUTING SECURITY ASPECTS Storage Reliability Virtualization Trust Physical Security Legal Compliance CLOUD COMPUTING RISKS RISK Management STRATEGIES Vendor Evaluation Centralized Information Governance Other Organization-Level Measures Individual-Level Security Measures Cloud computing model Cloud computing service and deployment models ISO/IEC broad categories The emergence of cloud computing has tremendously transformed the world of computing. Today, individuals, organizations, and government agencies can access computing resources provided by a vendor on an on-demand basis.
Behave the Way IT Does?" by Bill Fleming Cloud Computing and the New Economics of Business by Michael Hugos "Why Does IT Behave the Way IT Does?" by Bill Fleming Chapter 2 of Bill Fleming's book "Why Does IT Behave the Way IT Does?" deals with the cost effectiveness of the enterprise IT systems and the value of IT to companies. he also discusses the change in perceptions towards IT departments and
The purpose of this study is to develop timely and informed answers to a series of guiding research questions and subquestions to identify the risks and barriers that are associated with Internet of Things implementations. These types of studies are important today because the Internet of Things is changing the manner in which companies of all sizes and types operate their businesses, and current trends indicate that these
Security for Networks With Internet Access The continual process of enterprise risk management (ERM) has become an integral component of successful organizational assessment, because the process of accurately identifying various risk factors, and interpreting their potential advantages and disadvantages, ensures that a business remains capable of anticipating and addressing internal and external contingencies. The following ERM implementation plan for the security of internet-accessible networks is intended to provide a navigable framework
Alcan's continued revenue growth is the result of the combined success of increasing sales in four main business units, in addition to growth through acquisition. The cumulative effects of these two factors have served to create a profitable business and one where a highly decentralized organizational structure dominates (Chang, Wang, 2011). The catalyst of the organization becoming so decentralized is the continued revenue gains made across four businesses, each competing