Development of profitable business model on cloud computing technology: The case of 8KMiles; An IIMB-UMICH collaboration project

Abstract

The field of computing has seen waves of technological transformation from the Mainframes to Personal Computers (PC) to Network computing such as the Internet. The next wave in this field is Cloud Computing as it enables on-demand network access to a shared pool of configurable computing resources. Information Technology (IT) has become a vital part in many organizations today. It has helped many companies reach their goals efficiently. It forms about 20% of total expenditure of a company that uses IT in its operations. A company usually relies on outsourcing its IT operations to an IT Service provider that specializes in taking care of the company’s IT needs. 8KMiles venture is built on the idea of bringing up the computing resources together using cloud computing technology and using it to enable IT needs of Small and Medium Enterprises (SMB) and startups. 8KMiles, through their engineered Virtual Computing Environment (VCE) has created an online ecosystem that brings together verified IT professionals and IT sourcing companies (suppliers) with SMB (buyers) who need custom software solutions. The present report is written in a business plan format to get attention from interested investors for the funding 8KMiles requires in pursuing its operations at a larger scale.