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Today, the utilization of cloud services has transitioned from being viewed as an advantage to becoming a necessity. There is a significant shift in business processes towards embracing cloud solutions, and predictions indicate that by 2023, the cloud will become a standard tool in most industries and companies.
Various types of cloud services exist, including Software as a Service (SaaS), Platform as a Service (PaaS), and Anything as a Service (XaaS). These services can be categorized as public, private, or hybrid. However, they all share common features such as virtualization, environmental friendliness, and efficiency. Consequently, governments worldwide are actively encouraging it and support companies that decide to migrate their processes to the cloud.
The adoption of cloud services varies based on the size and type of the company. Startups and small companies tend to lean towards public cloud solutions due to their cost-effectiveness and accessibility. On the other hand, corporations often express concerns about data security and possess more complex business processes, necessitating a private cloud or even a customized solution, often built from scratch.
Europe supports cloud solutions, as reported by the European Commission, stating that 80% of companies utilizing the cloud have achieved IT cost savings of 10-20%, with half of them reducing costs by up to 30%. As a result, the EU has designed a strategy for “unleashing the potential of cloud computing in Europe” with expectations of a one percent annual increase in the Union’s GDP (equivalent to 160 billion euros) by 2023, leading to the creation of approximately 2.5 million new jobs.
Governments support cloud services also for their environmental benefits. By adopting cloud services, companies can transition towards paperless offices, resulting in significant reductions in hardware and software costs, along with reduced energy consumption.
An analysis of American, French, and British companies that migrated their processes to the cloud reveals a remarkable achievement of cutting their emissions by half. The cloud has even started to permeate peripheral industries and economically less developed countries. In recent years, predictions indicated that by 2023, companies would cease to worry about data security in the cloud, as there is no evidence to suggest that data stored in the cloud is more vulnerable than physically stored data.
And indeed, the predictions were accurate. In 2017, the primary focus was on replacing Excel in companies and continuously addressing concerns about the security of data stored in the cloud. Today, most clients have experience with cloud solutions and are seeking even better options, with security-related inquiries being rare and, if they occur, just a formality in the selection process.
While cloud computing may initially appear as a sector lacking regulations, legislation exists, especially within the European Union, to govern this sector. The General Data Protection Regulation (GDPR), for instance, establishes stringent rules for data protection that companies must adhere to when transitioning to cloud services. This regulation mandates companies to ensure the confidentiality and security of their customers’ data.
For businesses operating within the EU, it is crucial to comprehend and comply with these rules to avoid potential penalties. Therefore, businesses should seek cloud services that comply with GDPR and other relevant EU regulations.
Cloud computing stands as one of the most significant technological trends of the 21st century, offering numerous opportunities for businesses of all sizes. Regardless of whether you’re a startup searching for a cost-effective and adaptable solution or a big corporation requiring a secure and resilient option, there is a suitable cloud service available to meet your requirements. As government backing and the proven advantages in terms of economy and environment continue to grow, it’s just a matter of when cloud computing becomes an essential component in every business operation.
Embracing the power of cloud computing can be a game-changer and we’re here to make this journey easy and seamless for you. Cloud computing offers a wide range of benefits, including scalability, const-efficiency and increased flexibility.
For example, managing finances is a critical aspect of any business and our Accounting Online Portal simplifies the process. By taking advantage of our cloud solution for accounting you would be able to digitalize your accounting documents and workflows, manage your purchase invoices more effectively, track the financial status of your company in real-time and connect the portal directly to your accounting software.
Another portal that deserves attention is our Payroll and HR Online Portal that helps to take the stress out of handling payroll and HR agenda by allowing employees and HR teams to manage numerous tasks on their own.
Tracking employee’s attendance, leaves and schedules can be a challenge. However, with our Time & Attendance Online Portal you can streamline these tasks effortlessly. Our cloud solution is fully compliant with local legislation requirements related to time worked, overtime, vacation, paid leave or GDPR.
At Accace, we offer a comprehensive range of online portals through which you can revolutionize your business operations and unlock new levels of efficiency and productivity.
Market entry support | Tax advisory and tax compliance services | Legal advisory | Accounting and reporting services | Accounting Portal | Payroll and HR administration services | Payroll portal | Transaction advisory | Transfer pricing services | Corporate and secretarial services | ESG reporting | Online consulting | Ready service packages