eLoanDocs is a professional services business serving the mortgage loan industry. Launched in 1995 by Premium Title (a title and settlement service company), eLoanDocs was the solution to reducing Premium Title’s exchange time; the time it took to process mortgage approvals. By 1994, Premium Title sought to reduce their costs and differentiate their service by using technology to improve speed and accuracy of the mortgage-closing process (Cain et al., eLoanDocs: Riding the Tide of Technology Without Wiping Out, p. 762). Being a proprietary business, eLoanDocs was able to corner the mortgage industry market with this new technology. But, in such businesses such as the automotive industry where service-to-service transactions using electronic data interchange (EDI) were manned by …show more content…
Over 50% of documents and data of the mortgage companies went through eLoanDocs’ systems. eLoanDocs yearly vendor expenses for data center hosting, data networks, computer hardware maintenance, and software support subscription were near $2 million dollars. With fewer than 50 employees and under $15 million in annual revenue, eLoanDocs had to find a way to support the massive services they provide for the mortgage industry. Technology changes in 2010 made way for new opportunities and competition for eLoanDocs. Technology vendors like Amazon began to offer cloud computing. Cloud computing is a non-platform dependency network of virtualization, service-oriented architecture, grid computing, and utility computing that allows manipulating, configuring, and accessing applications online (Cain et al., p. 765). There is no evidence of trail to the host server. This case gives us a fundamental understanding of the concept of cloud computing and presents the advantages and issues of this IT infrastructure. This case gives a clear vision of the company’s current situation. Three main questions to consider
Cloud computing is a one of the most talked of topics in the field of Information Technology in recent times (Keyun, Joe, Taha, & Ibrahim, 2013). This subject area of cloud computing basically is a term used to describe computer resources available as a service accessible over a network (Darren & Kim-Kwang, 2013). The National Institute of Standards and Technology (NIST) define cloud computing as a model for enabling ubiquitous, convenient, on-demand network access on a shared pool of configurable computing resources (e.g. networks, servers, storage, applications and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction (Peter & Timothy, 2011). Due to the attractive nature of the model there has been rise in the use of cloud computing. Gartner, an IT research and consulting firm, says that cloud computing is growing will become the bulk of IT spend by 2016 (Gartner, 2013).
Premium Title started ELoanDocs in order to link different and numerous parties together, while informing them about mortgage-closing processes through technology. Before the company’s new process was created in the early 90’s; the industry’s process was stagnant and paper intensive. Prior to eLoanDocs system the mortgage industy consisted of a fax, mail, and an in-person review. A mortgage loan and final closing procedure would take around 90 days. It would also oblige a mortgage lender to generate final documents manually and then send it over to a title company prior to the scheduled closing date.
Elodea will only survive when grown below the water's surface. When left out of water, elodea will shrivel up and die. Its small white flowers are the only part of the plant that will flourish out of water, and these emerge in late summer. Elodea spreads and propagates when portions of the stem break away from the parent plant and form new plants .
With the unprecedented growth and spread of information, there is no wonder why large Information Technology companies have been investing in the “cloud”. To expand, when referring to Cloud Computing, this means to access and store information not stored with in your computer whether it be public, private, or hybrid cloud computing. In technological terms, the server you are accessing is somewhere else and therefore, the information and tools you are using are “up in the clouds” but more so stored in another server space. However, whether you are paying for
Marston, Sean R., Li, Zhi, Bandyopadhyay, Subhajyoti, Ghalsasi, Anand and Zhang, Juheng, Cloud Computing: The Business Perspective (November 23, 2009).
Cloud computing is defined by Cearly and Phifer in their case study titled “Case Studies in Cloud Computing” as “a style of computing in which scalable and elastic IT-related capabilities are provided ‘ as a service’ to customers using Internet technologies”. Cloud computing services had been provided by major vendors such as Google, Amazon, Microsoft, IBM, Hewlett-Packard, and others for business computing until recently when Apple Corporation announced iCloud for consumers. Therefore, cloud computing is now available for businesses as well as consumers. Read the case study titled, “ Ericsson”, located here, about Ericsson cloud computing.
Over the past several years, cloud computing has been getting attention as a new computing model for providing flexible and on-demand infrastructures, platforms, and software as services. Cloud computing is a technology through exchange of information and software management. Cloud computing allows users to use computer technology without the installation in their computers. It allows users to access their files or data from any computer having an internet connection. Cloud computing provides more efficient computing by centralizing data storage, processing and bandwidth. This technology emphases on virtualization of the host server or the controlling computer. The server acts as a communication network through which information could be shared. The information can be stored, retrieved and shared as and when required through a widespread global platform.
Cloud based computing can be considered as an upcoming computing paradigm or a business model allowing organizations and businesses to Incorporate IT capabilities without having to Invest heavily upfront to set up the IT infrastructure. It is incontrovertible that the capabilities and the advantages provided by cloud based services can greatly benefit businesses and organizations around the globe, but there remain some unresolved issues with respect to cloud based systems that can hinder
Cloud computing has been defined by NIST as a model for enabling convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications, and services) that can be rapidly provisioned and released with minimal management effort or cloud provider interaction. Cloud computing can be considered a new computing paradigm insofar as it allows the utilization of a computing infrastructure at one or more levels of abstraction, as an on-demand service made available over the Internet or other computer network.
Since the innovation of the internet, people in computing fields have seek to find storage solutions that could provide users and organizations with capabilities to store and process their data distant from end-uses. Since 2000s, cloud computing has come into existence, later on, became business feasible through the observation that organizations start to substitute from self-owned hardware and software to subscription mode based models. Thus, we’re currently on the shift to cloud computing that may cause a dramatic growth in internet-based IT services in some industrial areas and some decline in other areas. By definition, cloud computing is an internet based computing for storing or sharing used computer or applications on multiple servers.
Cloud computing is the new buzz in the recent days and cloud computing allows users to share files and applications over the internet. In the following pages we will discuss about the cloud computing its pros and cons, the security risk and how to overcome and use its resources for the best advantage of organizations. It is attracting much of the attention now-a-days which can be seen by observing the big names of the IT industry like IBM, Microsoft and Google investing millions of dollars into research on cloud computing.
Here, it is important to give a brief overview of cloud computing. It is not only changing the way society as a whole computes, but it is also transforming the way businesses operate and store pertinent information. A good description of the relationship between
The cloud computing industry evolved over the past fifteen years and according to (White, 2013) in the article, “A Cloud Retrospective”, the cloud industry was introduced out of the dot.com bubble burst at the beginning of the twenty-first century compelled internet-based companies to modernize their Information Technology (IT) Architecture and find more efficient IT operating solutions (White, 2013). (White, 2013), writes that Amazon entered the cloud market by introducing its Amazon Web Services (AWS) in 2006. (White, 2013) states in 2007 there were disagreements by the experts on the true definition of cloud computing. In 2008 the cloud market expands to include more vendors (White, 2013). (White, 2013)
We’ve all heard about this new phenomenon called cloud computing, but what exactly is cloud computing? Is it computation by a magic cloud instead of computers or humans? No, cloud computing is a popular term coined by the technology industry as storing, accessing, and computing data and programs over the internet instead of locally by your computer. Essentially, this so called cloud represents the Internet, and like real life clouds, it can’t be physically touched; rather, we know that it exists, it’s purpose, and it is quantifiable, but we can’t hold it in hands. Like weather clouds, cloud computing can be very powerful and a game changer that affect everyone. We will be discussing the impact of cloud computing, advantages and
Simply put, cloud technology means sharing resources, information, and software over a network such as the internet as opposed to using a personal computer, server, or other computer hard drive. It is delivered as a service rather than a product like traditional computing. The different services are called Software as a Service or “SaaS, Infrastructure as a Service “LaaS”, Computing as a Service “CaaS”, and Platform as a Service “PaaS”. Many people believe that moving to the cloud is the future of IT and several businesses already rely on the cloud for all of their technology needs. We are going to look into how cloud computing works, what makes it successful and what are some issues that may arise from moving away from traditional