Cloud Technology Myths versus Facts

Don’t fall for these cloud technology myths

Information security is a critical success factor for any person or service provider utilizing personal data of any kind.  But some cloud technology myths are preventing firms from implementing secure technology. The infographic below can demystify any of your concerns.

MYTH: Physical control of data implies security.

In fact, cloud computing boasts security at a level you could never afford. Wesley Middleton, Managing Partner at MiddletonRaines+Zapata, LLP points out the information security isn’t his area of expertise. He says, “There’s no question that we are not an IT firm, we are a public accounting firm. When we started the practice, one of our first goals was to not have an in-house IT department.”

MYTH: There are more breaches in the cloud.

Rather, on-premise software is far more susceptible to malware and botnets. Nancy Ekrem of the firm Dewar, Meeks & Ekrem appreciates that the firm doesn’t need to spend as much time worrying about protecting their system. According to Ekrem, “The transition to the cloud was really a no brainer for us. We could have more flexibility; we would save time in computer maintenance and reduce our infrastructure.”

MYTH: I’m not using the cloud, so I’ve got better protection.

However, the truth is if your system has an Internet connection, you’re already in the cloud. Joe Sachetta, Partner at Sachetta & Callahan notes how different the profession is now than in the past. Firms that don’t evolve their technology can’t survive. He says, “I have been doing this for 35 years, and I can’t even imagine operating the way we did when I started and how we would make any money. We are so much more efficient now, and every year even ore so because of the technology.”

MYTH: My client data is too sensitive to be hosted in the cloud.

While it’s true that accountants maintain very sensitive data, the CIA & NASDAQ host data in the cloud, and your clients do too. According to Randall Sansom, Principal at Randall L. Sansom, CPA, his clients prefer working this way. Sansom points out, “Sitting down for face time is not as big of a priority for some clients as it used to be.”

Components of Digital Security

Compare the five basic security components of various systems in the infographic below. Each one of these components requires expertise and technical knowledge not available in most firms. Of course, a thorough security policy will take into account all five components .

Cloud Technology Myths versus Facts

Put Your IT Department’s Cloud Concerns at Ease

CCH Axcess™ employs controls designed to provide for secure systems. To validate and attest to these controls, CCH Axcess has obtained AICPA industry‑recognized Service Organization Controls Reports. Currently Wolters Kluwer has obtained SSAE16 and SOC2 Type II reports for CCH Axcess. We updated these reports annually.

In conclusion, Wolters Kluwer understands cloud technology security is important. To learn more about protecting your firm, download our information security toolkit today.

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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