Advantage And Challenges Of Cloud Computing

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Advantage and Challenges of Cloud Computing
Background
The evolution of Information Technology is inevitable, not only on the telecommunication and networking industry, but, it is also gaining more popularity in the business industry by way of Enterprise Resource Planning (ERP) system and rapidly making its move towards the accounting and auditing industry through Data Analytics Software, however, as the IT innovation continues and the concern of capacity and storage progress, and the demand for expansion and accessibility, brings in cloud computing and big data analytics. As the business industry grow after the financial crisis, companies examine opportunities for operational cost reduction and lower the risk of technology infrastructure becoming obsolete. Obviously integrating business functions to more highly technical and sophisticated system is cost effective, however the damage caused by security and privacy risk can be very costly as well. Guillot (2013) indicated that nowadays the inexpensive, effective and efficient business functions was owed to the evolving technology, but technology also makes the fraud easy to facilitate and engineer by perpetrators who can commit fraud anywhere and anytime as the internet, mobile devices, computers and the cloud are used to conduct business (p.43). Guillot quoted Steve Mar, director of IT statement “It’s not that fraud has changed, it’s that technology has made it easier” (p.43).

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