"Cloud can be as useful for mid-sized firms as for large ones. Mid-sized firms can actually use Cloud to quickly and cost-effectively grow and join the big league of larger firms. So while larger ones can sustain their growth rates, mid-sized firms actually get the option to grow rapidly," says Pankaj Mittal, VTO and SVP Engineering at Impetus Technologies, in this Exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan.

Cloud Computing Journal: Do you agree with those who contend that the simplest definition of Cloud Computing is simply "Outsourced IT"?

PANKAJ MITTAL: Cloud Computing is much more than ‘Outsourced IT'. Cloud computing opens up a new vista not just within IT but also for dreaming and fulfilling new business ideas quickly and at much lower costs than ever possible earlier.

Cloud Computing Journal: How nervous should CEOs be about how the Cloud alters the risk and compliance profile of their company?

Mittal: Cloud computing is relatively new and so may not align easily with existing risk and compliance profiles. Governance and security are some of the few concerns that need to be carefully evaluated and streamlined for Cloud computing. However, processes, methodologies and  tools are slowly emerging to bridge this gap.

Cloud Computing Journal: Should mid-sized firms also outsource their IT to the cloud, or only larger ones?

Mittal: Cloud can be as useful for mid-sized firms as for large ones. Mid-sized firms can actually use Cloud to quickly and cost-effectively grow and join the big league of larger firms. So while, larger ones can sustain their growth rates, mid-sized firms actually get the option to grow rapidly.

Cloud Computing Journal: Is there an optimal mix of traditional IT and cloud computing?

Mittal: Certainly! The elastic nature of Cloud allows a mix-n-match approach for meeting IT requirements. Cloud can serve as the elastic extension for traditional IT infrastructure and help overcome the problems of enhancing existing IT.

Cloud Computing Journal: Is there a simple way to compare the performance, security and quality of various cloud computing providers?

Mittal: Difficult question!  Different cloud providers have their own specific offerings and it would be dependent on you business needs to rate performance, security and quality of cloud providers.

Cloud Computing Journal: From a product perspective, how can the Cloud assist companies with producing better software products?

Mittal: Cloud can certainly act as a catalyst in developing better software products. One of the key characteristics of Cloud is to enable low startup IT costs. So effectively, you have more budget for conceptualizing, marketing and implementing the product rather than worry about managing reserves for product deployments and testing.

Cloud Computing Journal: How important is Open Source to the future of the Cloud? And how important to Impetus?

Mittal: Open source serves as the icing on the cake for any company looking for a better and cost effective software development. The dual benefit of lowered IT infrastructure costs as well as development and deployment costs allow companies to focus on their nurturing their core business ideas. Impetus clearly sees the value add of using Cloud with open source for customers benefit. This also aligns with Impetus vision of providing the best option for customer's business

Cloud Computing Journal: Who in your view are currently the world’s top five Cloud Computing companies?
Mittal: I would choose

•    AWS
•    Google
•    Salesforce
•    IBM
•    VMware

Cloud Computing Journal: What's your top tip, as a seasoned software executive, to CEOs & CTOs out there who may be looking for some magic bullet to ensure they're alive (and preferably well) as a company in 2011?

Mittal: Look out for Cloud! It would be risky for any CEO/CTO to miss out on the silver linings!