Question

Discuss 3 risks and 3 benefits of cloud-based computing especially as it relates to the expenditure cycle of an organization.

Answer 1

The benefits of cloud based computing are given below:

a) Accessability : The system can be accessed from any system or computer as it does not require any pre installed applications to work.

b) Low Cost : Since data is stored on cloud, it will reduce the requirement of high storage hard disk or server in an organisation.

c) Updated system : Since the cloud based computing does not requires installation, hence the system will be automatically updated and reduces the burden of installing uodates.

The disadvantages of cloud based computing are given below:

a) Internet connection: The cloud based computing requires a fast browsing speed to operate so it will not be feasible in remote areas to use.

b) Threat to privacy : Since all your data is on the cloud which can be accessed 24*7 from anywhere, it creates a huge risk of data breach.

c) Permanent Loss of Data : Since everything is stored on cloud and you have nothing in your hard disk, it increase the risk of complete loss of data is the cloud corrupted.