In northern California, Stanford University can build connections with many tech startups. Based on past information from technology partnerships, this research institution is working toward entirely changing its data processes, according to Venture Beat.
Prior to the change, university finance director Katie Talamantez managed the school's use of facilities, including buildings and vehicles. Completing these tasks on Microsoft Excel turned out to be more difficult as the school continued to expand.
Talamantez "found this introduced too many opportunities for errors and duplication and grew concerned after almost committing multimillion-dollar mistakes," the Venture Beat article stated. To increase transparency among other departments within Stanford, and to improve her workflow, staffers are now completing data entry services off a cloud-based server.
It did not take long before Talamantez saw the benefits of these technologies. She told other offices where they excessively spent resources—not letting staffers go past the organization's $250 million budget.
In fact, almost half the businesses in the United States are aware of the benefits of cloud computing and about 40 percent of them are beginning to use these programs, according to Forbes. However, Forbes' study showed that chief financial officers (CFO) continue to find reasons not use these systems.
If Talamantez, a CFO, was able to streamline operations, other companies should feel confident in cloud computing options. If files are properly secure with strong passwords and encryptions, then senior staff will have less to worry about.
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