What is a Public Cloud?
A public cloud is a cloud computing model where infrastructure, storage, and services are provided by third-party providers and shared among multiple users. These services are typically delivered via the internet on a pay-as-you-go basis, making them scalable and cost-efficient.
Why Public Cloud Matters for Family Offices
Public cloud solutions offer flexibility and lower upfront costs, making them attractive for family offices looking to enhance data storage, security, and operational efficiency. Key benefits include:
- Scalability: Easily adjust resources based on business needs.
- Cost Efficiency: No need for heavy investment in IT infrastructure.
- Accessibility: Secure access from anywhere, supporting remote teams.
Challenges of Public Cloud
While cost-effective, public cloud solutions have potential drawbacks:
- Data Security Risks: Shared infrastructure may be vulnerable to cyber threats.
- Limited Customisation: Standardised services may not meet all specific needs.
Further Reading & Resources
- Digital Transformation in Family Offices – How cloud technology is reshaping operations.
