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Cloud Computing… A Fad or the Future?

Cloud Computing… A Fad or the Future?. Jim Boomer, CPA.CITP, MBA CIO & Shareholder, Boomer Consulting, Inc. j im.boomer@boomer.com. Jim Boomer CPA.CITP, MBA Shareholder and CIO at Boomer Consulting, Inc. Director of the Boomer Technology Circles & the Producer Circle

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Cloud Computing… A Fad or the Future?

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  1. Cloud Computing…A Fad or the Future? Jim Boomer, CPA.CITP, MBA CIO & Shareholder, Boomer Consulting, Inc. jim.boomer@boomer.com

  2. Jim Boomer • CPA.CITP, MBA • Shareholder and CIO at Boomer Consulting, Inc. • Director of the Boomer Technology Circles & the Producer Circle • Member of AICPA’s Tech+ Conference and CITP Credentials Committees • Named by CPA Practice Advisor as one of the Top 25 Thought Leaders and 40 Under 40 in Public Accounting Technology • Named by Accounting Today as “one to watch” on the annual list of the Top 100 Influential People in the Accounting Profession • Member of KSCPA Board of Directors

  3. Agenda

  4. Overview

  5. The Cloud is HOT!!!

  6. Cloud Terminology

  7. Cloud TerminologyWhat is it? • “A style of computing in which massively scalable IT-enabled capabilities are delivered as a service to multiple customers using Internet technologies” • - Gartner

  8. Cloud TerminologyService Models • Platform as a Service (PaaS) • web development • Software as a Service (SaaS) • Browser-based business applications • Infrastructure as a Service (IaaS) • Provide computing capacity without having to design, purchase, build and manage the underlying infrastructure.

  9. Cloud TerminologyDeployment Models • Public Cloud • Available to general public by service provider • Community Cloud • Shared infrastructure between several organizations from a specific community w/ common concerns, whether managed internally or by a 3rd party & hosted internally or externally • Private Cloud • Infrastructure operated solely for a single organization, whether managed internally or by a 3rd party & hosted internally or externally • Hybrid Cloud • Composition of 2 or more other clouds (private, community or public), allows for fault tolerance combined with usability w/o dependency on Internet connectivity

  10. Which is NOT a cloud service model? • Platform as a Service • Software as a Service • Private Cloud • Infrastructure as a Service

  11. A Brief History Everything Old is New Again! • Mainframe Proliferation • Minicomputers • Personal Computers • Networking • Internet <1950:BC The UK Colossus Computer 1950’s First Commercial Computers 1960’s Rise of the Mainframes 1970’s Twin Revolutions (Timesharing) (ARPANET) 2000’s The “Cloud” is back

  12. Types of “Cloud” Services • Disaster Recovery Sites • Remote Desktop Access • Colocation • Server Virtualization • Software as a Service

  13. General Trends

  14. General Trends • Momentum building • Attitudes are changing • Partner • IT Professional • Vendors were pushing the message & now are trying to keep up

  15. Thomson-CCH-Intuit??? In-House Data Center Apple IBM Infrastructure Systems Applications Integration Hosted Solutions Network Engineering Processes/Workflow Backups Spam/Virus Web 2.0 Software Virtualization Privacy - Security Software Updates Device Independent Bandwidth Subscriptions Email Innovation - Revenue Licenses

  16. Where to Get Started • Exchange – Office 365 • Workflow • Document Management • Client Portals/Secure File Transfer • Client Accounting

  17. Office 365 • Accounting Firms are using it • Completely Online • Hybrid Environment (On-premise Exchange & hosted Lync) • Re-seller to clients

  18. Office 365 • Exchange Online • SharePoint Online • Lync Online (Instant Messaging, Presence & Conferencing) • Office Web Apps • Website • Email Archiving & Spam Filtering

  19. Client Accounting Over Past 20 Years • Today’s Opportunity • Cloud based • Integrated • Paperless • Dashboards • Real Time Small Businesses push work back to firms to focus more on their business Role of Firms Reduced QuickBooks introduced to small businesses Re-claiming of Client Accounting & Trusted Advisor Role

  20. Workflow in Desktop Accounting Desktop Software on Client PC Client enters Data File Transfer to CPA Firm Desktop Software on CPA Firm PC Create Financials Adjusting Entries Cleanup/Fix Client Mess Export to T/B System Print Mail to Client File Transfer to Client Import into Desktop Software on Client PC

  21. Workflow in Cloud Accounting Client Dashboard & 24/7 Access to Downloads Electronic Data Capture Adjusting Entries Create Financials & Reports • Advisory Services • Cash Flow Analysis • Budgeting • Tax Planning & Compliance • Business/Strategic Planning Direct to DMS/Portal Trusted Business Advisor

  22. Cloud Platforms – Client Accounting Yupana

  23. Naming Pricing Packaging Buy-In Bookkeeping Change Management Processes Niche Team

  24. Driving Adoption in a Digital Age Most significant challenge

  25. Vendor Strategies • SaaS Suite Update • All products in market • Tax – soft launch later in 2012 • Open Integration Platform strategy • Virtual Office – CS Suite • SaaS – CS Suite • Expanded offerings based on GFR platform

  26. Is cloud computing a fad? • Yes • No • Still to be determined

  27. Vision for Profession • Attitudes will continue to shift towards adoption • Vendors will • expand capabilities • attack integration issues • Is it a fad?

  28. Benefits & Business Drivers

  29. Benefits & Business Drivers • Enhanced search, reporting & collaboration • Focus on strategic, value-add activities • Smooth out IT spend • Minimize development/implementation time • Limited downtime • Anytime/anywhere access

  30. Benefits of Moving to Cloud Computing • Low upfront cost – no capital expenditures • Minimal h/w management – AD and File print servers only • Better growth position – hardware, access, and applications are readily available • Eliminate backup expenses

  31. Technology …think faster, better, cheaper & easier – The Cloud

  32. Meshing… • Lease/shared versus owned/controlled • Enabling platforms • Cloud computing • Access beats ownership • Recommendations – trusted source

  33. Business Development • Your Clients/Vendors • Non-US companies in your geographic area

  34. Concerns

  35. Concerns About the Cloud 1. Confidentially and Privacy of Data • Concerns around who has access to very confidential client data 2. Availability of Service • Reliability of internet access • Capacity of supplier during high usage times 3. Management of the Data • Ownership of the data • Process to switch web-based providers (transfer the data) • Ensuring that document retention rules are followed 4. Liability • Contracting best practices for web-based solutions • E-discovery process with web based providers 5. Flexibility • Adapting/improving processes to leverage existing technology 6. Pricing • Scalability

  36. Concerns About Moving to the Cloud • Loss of control – outages are handled by another company • Outages impact everyone, not just a few • Security • Cloud companies are higher target value for hackers • Higher potential for data breeches

  37. Which is More Secure? http://online.wsj.com/article/SB10001424052702304567604576454173706460768.html

  38. Data Integration Concerns • More fragmented data • Data from email, CRM, scheduling, T&B, etc. • Single vendor solutions – MS, Thomson, etc. • Data Integration companies • Informatica, Oracle, IBM, SAP, Sage, SAS institute

  39. Top Cloud Evaluation Questions • For Your Existing Software Vendors: • Is your application able to run the Cloud natively? • If so… is there an upgrade / relicensing fee ? • If not… will I need to relicense your Cloud version? • Who do I contact if I have a question or a problem? • How are service rates determined? • What is you Service Level Agreement? • Can I integrate my Cloud Systems with my In-House Applications? Other Cloud-Hosted Solutions?

  40. Top Cloud Evaluation Questions • How is my data protected? • Are backup / high availability and disaster recovery included? • Are test & training system versions available? • Before a software change is implemented are we notified in advance? • Can my system administrator add users, write reports, modify parameters, etc…? • Can I obtain a copy of my data?

  41. Expansion of SAS 70 to Meet Market Needs • Service Organization Control (SOC) Reports • SOC 1: Financial Reporting • SOC 2& SOC3:Based on Trust Services • Trust Services • Security • Availability • Processing Integrity • Confidentiality • Privacy • Opportunity to Lead

  42. New Cloud Computing Laws • Microsoft calling for upgrades to Electronic Communications Privacy Act & Computer Fraud & Abuse Act • 3 Key areas of focus • Privacy • Security • International sovereignty of data • Strengthen ability of cloud service providers to pursue civil claims against security violators http://www.eweek.com/c/a/Government-IT/Microsoft-Calls-for-New-Cloud-Computing-Laws-525700/?kc=EWKNLENT01222010STR2

  43. Changing Role of IT Professional

  44. No IT People In The Firm?

  45. The Changing IT Professional • Managing the services • Integration & workflow • Processes – more involved in thebusiness and less on the hardware • Tightly aligned with Training & Learning Professional • Innovative and strategic

  46. Less IT People in the Firm? • Probably • Less of a need for: • Infrastructure Maintenance • Software Maintenance & Troubleshooting • More of a need for: • Understanding Processes • Researching Solutions • Communication & Training

  47. Service Users Service Providers Demand for IT Professionals

  48. Critical Skills • Business Savvy • Communication • Marketing & Sales • Human Resources • Project Management • Budgeting & Cash Flow • Strategy & Planning

  49. A Seat at the Table

  50. Our Own Example!

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