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Cloud Computing Security

Keeping Financial Data Safe is Easier than Ever Before


Keeping Financial Data Safe

Friday, June 21st 2013


One of the biggest concerns that financial professionals and business owners have with using online services or moving software for their business to the cloud is the issue of security. Where is my information actually stored? If large businesses suffer security breaches, how can I trust that my data will be safe? These are definitely valid concerns, but once explained, most people tend to view cloud computing as safer than what they thought. Considering that the term cloud computing simply means online or internet-based, we will focus on application hosting, since that is one of the common services currently used by financial professionals.

Application hosting is powered by a network of servers that are similar to what a business would have in-house, only more powerful. The main difference is that they have larger capacity and are designed for high-volume use and consistent access by many users. The firewalls and virus protection tends to be more of an industrial grade quality that is more expensive than average office technology. So aside from higher quality hardware and software, the technical layout is generally in par with industry best practices.

A major aspect of software hosting and cloud IT services is that applications and data are monitored and maintained by professionals. The servers that power your hosted services exist at a secure facility with restricted physical access, with the software being handled by certified security experts. Aside from these technological advantages, application hosting services offer load balancing of servers, with redundancy and offsite backup.

Application hosting services for accounting software include data storage within secure networks. So aside from the offsite backups, a persons financial data isn’t duplicated or running on multiple servers. Although software may be running and exist on many servers, a data file or private document only resides in one actual location. When it comes down to it, the hosting of financial data is no different than having it located on an in-house server. The advantages lie in the ability to make use of pooled resources, like a secure facility or data monitoring and protection.

Web-based services like QuickBooks Online or are also considered to be cloud computing. The difference is that you tend to have less knowledge or control regarding where your data is actually located or how it is managed. It may also be difficult to move between using software and data locally and online.

Whether you decide to compute locally or virtually in the cloud, your IT will need to be managed. If you keep software and data in house, it will need to be maintained and protected. If you move it to the cloud, this is also the case, only you will pay much less and get better protection, security and monitoring as part of the service. As hosting providers compete to hold a competitive advantage in cyberspace, professionals that use cloud computing services will continue to benefit from levels of data security that are greater than what they currently have. Keeping your financial data safe, secure and backed-up.








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