Is Your Service-Oriented Business Data Safer in the Cloud?

Competition in the business world is always fierce, for service companies especially so.  Any edge, no matter how slight, has to be capitalized on. One area a company can make big strides is in data security.  Often overlooked, data security is, or should be, a real concern for any organization, particularly one that stores large amounts of client info, such as a service company.

It is estimated that the business cost of a data breach, an actual compromise of user data, can range from $140,000 to $220,000, depending on variables. That is not a small amount to any company, let alone one in the SMB category.

It is estimated, by the Aberdeen Group's Monte Carlo analysis that the likelihood of an actual data breach, or the compromising of customer info, is on average about 10%. However, the same analysis assumes, as a matter of course, that there is a 100 percent likelihood of a “security incident”, or attempt by outside forces to access restricted data. The difference between a no cost “security incident” and high cost “data breach” may be your choice of data security solutions.

Many companies are using traditional, “on site” solutions with software designed to inhibit access to data and protect against attacks, installed on their servers. This approach puts the entire responsibility of data security on your internal IT team and the equipment in your server room – which can be risky for organizations with limited IT resources.

With the proliferation of cloud-based solutions, you now have new options for data security, designed from the top down with the mission of protecting users’ data.

One such system, NetSuite, is an ideal solution for service companies.  In addition to its wide variety of ERP tools, it also offers the kind of cloud-based data protection that can easily handle rapidly growing amounts of data and take the responsibility of security off of your internal resources - potentially saving not just your client's data, but your company money.

Learn more about Cloud Data Security here

By Socius, an Ohio NetSuite Provider (www.socius1.com)

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