With so much chatter about safe data storage in the news today, you may find yourself with a lot of questions. Is cloud storage secure? How much does it cost? What is the best cloud storage provider for accountants and CPAs? In today’s practice management blog, we provide the answers to those common cloud storage myths, and more.
Myth: Cloud Data Storage is Not Secure
Those unfamiliar with cloud storage tend to be wary of it, assuming that it is a passing trend that could be lost at any time. However, cloud storage is actually much safer and more secure than the email servers you currently use to share confidential business information. Public servers like Gmail and Outlook, though accessed by millions of people, are not secure, and can be hacked at any time.
Cloud storage providers dedicate much more attention and resources to protecting their servers. For instance, ImagineTime’s secure client portal, ImagineShare, uses 256-bit bank-level encryption to protect its data. This level of encryption is virtually impossible to break by even the fastest computers. Even physical storage facilities for cloud servers are often more physically secure, kept behind locked physical barriers and monitored with security cameras.
Myth: Cloud Software is Expensive
Many small business owners assume that cloud services are out of their reach. However, when one considers the high cost of in-house storage, it becomes obvious that cloud storage software actually helps businesses achieve significant cost savings. IT personnel salaries, hardware, maintenance, utility costs, and additional fees generally add up to exceed the cost of a single flat cloud storage service.
Another factor to consider is the cost of a data breach should your in-house servers be compromised by a hacker, disgruntled employee or natural disaster. The cost of losing all of your data and being forced to rebuild from scratch is more expensive than the priciest accounting practice management software. As for data breaches, loss of assets, loss of client trust (and clients), and high fines for breach of duty of care could all easily be enough to wipe out a small business completely.
Myth: Transitioning to the Cloud Will Be Slow and Difficult
Business owners often worry that switching to a cloud storage solution will put a screeching halt to their productivity for weeks or even months on end. However, getting started on the cloud takes just a few minutes! In many cases, businesses can be utilizing the cloud with their normal business protocols on the same day they sign up for the service.
A good cloud provider will make sure that the process of switching data over is simple and stress-free. While it may take a few days for you to get a handle on all the features and options, productivity within a team utilizing cloud storage should sharply improve.
Myth: Cloud Technology Is a Fad
It’s been calculated that by the end of 2020, 83% of all enterprise workloads will be cloud-based. Cloud storage is also doing well financially, with the public cloud market generating over $130 billion in 2017, and anticipated to reach $150 billion by the end of 2020. Cloud storage has rapidly surpassed many other industries, including education services, corporate management, and utilities, to become one of the most profitable and powerful sectors. All this boils down to one thing: cloud services aren’t going anywhere.
Switch to Cloud Software Storage with ImagineTime today!
Whether you’re looking for the best cloud software for accountants, want to take advantage of secure file sharing for CPAs, or need a more efficient way to manage your data, ImagineTime has a cloud-based practice management software option for you! To learn more about cloud storage and what it can do for your business, reach out to us here for a free, complimentary demo.