I have been talking about cloud computing for a while now, and although I like the concept, I continue to feel that it is still in development.
Recently, we saw some outages and then allegations of hackers using the cloud to hack into other servers, mostly for anonymity. These things will resolve themselves, but more importantly—before you jump into cloud computing, consider this: Does cloud computing offer the features you need at a budget that makes sense? Here is an outline for making a sound decision:
- Define why you want to move to a cloud structure.
- Write down the features that are most important to you today and five years from now.
- Work with a tech person who knows various cloud vendors well.
- Do your due diligence on the vendors.
- Get the tech person to help you implement the cloud computing solution.
I find that when I go through this process with advisory firms, there is a misconception of what the cloud can really accomplish today. I often find that cloud computing does not accomplish the needs of an office and we come up with alternative solutions at an extremely cost-effective budget.
Ash Bhatnagar, CFP®
RIA Independence Co.