Dispelling The Myths Of Cloud Accounting: Security
Posted on May 01, 2014
Cloud computing has completely changed the accounting process. It delivers high performance and flexibility to the user within a secure environment. Cloud made the essential information available to the people who need it, when they need it – wherever they are. This blog post dispels one of the common myths associated with using cloud accounting software.
Cloud: Past, Present and Future.
The traditional model for buying accounting software was to pay an upfront license fee and then on-going maintenance or upgrade charges. This often involved a large initial capital outlay – both in terms of purchasing the software itself and the hardware to run it.
As software has became more complex, it also means companies require specialists in particular software to configure, manage and offer support on an on-going basis. In the past decade, however, accounting software has changed.
Now there are a range of options available to meet all companies’ needs for on-demand solutions. These Cloud or “Software-as-a-Service” (SaaS) applications allow businesses to use the latest software developed on a subscription basis, removing the need for upfront capital investment in terms of hardware and software, as well as upgrade costs.
It also means that businesses, no matter what their size are no longer need to manage and support accounting applications in-house, as that is taken care of by the company supplying the service.
Myth: Cloud is less reliable & less secure than on-premise applications.
Cloud vendors understand that security is one of the key considerations for businesses and have all developed policies and infrastructure to safeguard clients’ data. They are dedicated to developing and delivering the application.
Vendors provide a level of resilience and security well beyond the majority of in-house IT systems. These include guaranteed levels of availability, daily remote backup, business continuity provision and also remote access. It means that data is no longer stored on laptops or desktops that could be lost or stolen.
An organisation would have to spend hundreds of thousands of pounds to come close to providing the same degree of facility offered by the modern, enterprise-class data centres utilised by most Cloud solutions.
Beyond much more robust physical defences, many data centres are also regularly audited from a software access perspective on on behalf of clients checking against rigorous financial and credit card standards such PCI DSS.
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