This document discusses cloud computing and compares it to traditional IT outsourcing and managed services. Cloud computing allows users to access software, servers, and storage over the internet instead of having to buy, install, and manage their own resources. The document outlines the service models of infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). It then presents a scenario where a company needs to quickly launch a new product worldwide and argues that cloud computing would allow them to do this more quickly and cost-effectively than relying on their in-house IT department.