Cloud, or cloud computing, is a form of internet-based computing that provides shared processing resources and data to computers and other devices on demand. A shared pool of configurable computing resources (networks, servers, storage, applications and services) is universally accessible and available on demand. The service allows enterprises and users to avoid upfront infrastructure costs while storing and processing data in third-party facilities.
Individuals and businesses alike use cloud computing applications today. There are several cloud services, including streaming platforms (Platforms-as-a-Service (PaaS)) that store media directly online, such as audio and video files. In addition, there are data storage platforms (Software-as-a-Service (SaaS)) like Google Drive, Dropbox, OneDrive, and Box.
As businesses continue to evolve into a digital-first economy, cloud computing will play an increasingly prominent and dominant role as the IT industry strives for enhanced efficiency, innovation and flexibility.
With flexible workplaces becoming commonplace, cloud technology has become increasingly popular due to its high level of data security and flexibility for employees across organizations globally, including those working from remote locations.
The functions of large clouds are often distributed across multiple data centers. Shared resources enable cloud computing to achieve coherence. Thus, the model is typically a pay-as-you-go model that helps reduce capital expenses.
Advanced supply chain and procurement software are cloud native and therefore require very little time to deploy due to the inherent agility, while being device and platform agnostic. This enables easy onboarding for enterprises irrespective of the type of software or system they are using.
Learn more to know about GEP’s native-to-cloud technology.