24 Jun Data Security in the Cloud for Finance
Finance and accounting managers are moving their key business systems to the cloud at an increasing rate. Initial concerns regarding data security are dissipating once businesses move their systems to the cloud. They are actually finding that they feel their data is more secure in the cloud.
Microsoft recently commissioned a study of small and midsize businesses (SMBs) to measure people’s feelings and experiences with data security after moving their business systems to the cloud. These are some of the results of the study:
Operating Expense – 51% of cloud users said that since moving to the cloud they spent less time managing IT overall, and 50 percent said they used fewer internal IT resources.
Security – Nearly all SMBs that use the cloud (91%) said their cloud provider made it easier for their organization to meet compliance obligations.
Security – More than one-half of cloud users said data security had improved since adopting the cloud.
Reliability – As a result of improved service availability, 86% of SMBs have saved time since moving to the cloud, and 68% of those same SMBs saved money.
Other findings included these:
Cost savings can be reinvested: One-half of SMBs that use the cloud have been able to pursue new opportunities because of time saved managing security in the cloud.
Some initial barriers to moving to the cloud included: 39% of SMBs that do not use the cloud cited compliance as a reason why they have not adopted cloud services.
The conclusions from the Microsoft study are more thoroughly covered here.
You can try out a Microsoft ERP system in the cloud by starting a 30 day trial here: