Treasury management - Cloud

Question 1

What is a cloud?

Answer 1

It’s in a company’s mainframe, where you have space that you can use.

Question 2

Why is a cloud safer than keeping it in your company?

Answer 2

1. The companies that do specialize in cloud storage usually have top notch computer specialists and what they do all day is improve their security.

Question 3

What are six reasons you need to consider for a cloud based payment system?

Answer 3

1. Flexibility: especially this for a payment system, we do not want to have to stock on your own system, all the payments tools and the software’s, so you use a third party that already offers them.
2. More secure, I would say this is the number one. Most clients go to cloud for payments because of the security.
3. Easier data integration: instead of having your IP people designed reports and how some how to massage information, they come and it’s all done for
   you.
4. Improve speed to market for new products: you don’t have to worry about the payments, it will do it for you.
5. Improved scalability: Your Business changes it adapts to you.
   6: Better user management: So if they do everything for you, you can use your time to do other stuff.