Over the past couple of years, Cloud providers have made significant strides in security as well as reliability, outstripping what individual enterprises can establish in-house. In addition, all solution providers have either gone to a SaaS model or have a strategy to do so. Given these changes, the industries that are still hesitant about having their data in the Cloud must create their own strategy to address the inevitability of the future of the Cloud.
The Cloud offers significant security benefits, as it monitors activity 24/7, notifying customers immediately of any disruptions occurring. Armed with multiple firewalls, the complex structure of the security in the Cloud makes it nearly impossible to hack. In fact, a number of advantages are delivered by Cloud providers:
- Even if one does somehow find a way to hack into the system, there is virtually no way they would know the differences between the servers within the Cloud to be able to hack a specific set of data.
- The Cloud is heavily invested in security, proactively making sure security patches have been applied, better protecting their customers from emerging threats.
- With routine automatic upgrades, their customers are up-to-date on all the latest security, ultimately leading to better secured data throughout.
Cloud for Finance
Specific industries, such as the finance industry in particular, have been reticent about moving to the Cloud, and with good reason. The two most common fears are:
- The fear of exposing their internal data to a greater possibility of a breach
- The fear of violating data protection laws
The finance industry often makes the common mistake of thinking they are less susceptible to a data breach if their data is stored on premise under their own watch. In reality, the most costly data breaches are actually caused by internal users within the company’s own firewalls.
In addition, they often fear they will violate data protection laws by allowing their data to be hosted outside their country of origin. This fear can be overcome by understanding the nature of the data going into the Cloud and the specifications of the data protection. The Cloud customer, regardless of computing in a Private or Public Cloud, is essentially the one with full control over the nature and movement of the data within the Cloud. With this control, your organization has the ability to fully comply with the data protection laws of your country of origin.
To Sum It Up
Overall, Cloud computing continues to grow rapidly across the globe, only further solidifying how prominent the Cloud will continue to be in the future. It delivers the infrastructure required to enable global standardization and provides the capability of integrating your big data, ultimately leading to massive reductions in time and cost across your organization.
Written by Kelli Shoevlin