IMPACT OF CLOUD COMPUTING ON INFORMATION 

TECHNOLOGY

A `cloud computing' technology has replaced organization need to create a data centre, purchase hardware, software, and other IT requirements. The use of cloud computing changes considerably the way IT services are used, especially for financial institutions such as banks. Numbers of banks are adopting cloud computing and also experiencing the benefits of the same. The main aim of the research are to look into their reasons for moving to cloud computing, its implementation in these banks, as well as how it moves to the cloud which impacted on IT departments. So, to achieve this research, interviews were conducted with domain experts, and it was also found that impacts of cloud computing in the IT department of banks by shifting the roles as well as the responsibilities of IT employees, and also helping them to concentrate more on providing better services instead of technical issues. Even it was also found that the key reason for moving to the cloud was the cost-saving related with it. Before implementing the cloud computing in the banks, they evaluated the risks as well as the benefits of adopting it, and they also signed a contract with the cloud provider. The implementation of this cloud computing in the bank was then the responsibility of the cloud provider.

The future of cloud computing looks very bright in the developed countries.. Cloud computing helps in reducing cost of infrastructure and also reducing in capital expenditures. Cloud computing has increases its popularity day by day. Even you can scale up or down different services as per as the requirement of our business. The other aspect of cloud computing is that it is accessible through laptops computer, Smartphone’s as well as the handhelds for majority of their applications. Virtualization technologies that is cloud computing have revolutionized the IT industry which enables small and mid size businesses to suggest the online services without investing so much in storage, Web, or e-commerce infrastructure. Very important aspect is Security. There are so many companies which are more concerned of security for their data as their competitors have same vendors as theirs and therefore data might also be shared with their competitors. Different companies also demand application specific security such as various encryption or decryption algorithms which is related to access of their data. Number of times these services cannot be fulfilled by the vendors. But as time goes by lot of new innovation and advancements will also take place and one of major aspect to watch out will be security.

Ms. Anisha Tandon

Assistant Professor

Dept. of Management