{"id":96248,"date":"2024-05-02T08:35:59","date_gmt":"2024-05-02T08:35:59","guid":{"rendered":"https:\/\/silverfin.com\/resources\/cloud-as-the-safest-place\/"},"modified":"2026-02-16T12:22:39","modified_gmt":"2026-02-16T12:22:39","slug":"cloud-as-the-safest-place","status":"publish","type":"post","link":"https:\/\/silverfin.com\/en-ie\/resources\/cloud-as-the-safest-place\/","title":{"rendered":"Why and how the cloud is the safest place for your accounting firm\u2019s data"},"content":{"rendered":"\n

Cybersecurity is a top priority for many accounting firms \u2013 and for good reason. In 2023, about a third of UK businesses experienced a cyberattack: a figure that likely underreports the true scale of data breaches, according to a survey by the Department of Sciences, Innovation & Technology<\/a> (DSIT).\u00a0<\/p>\n\n\n\n

So, how do you mitigate the risks while continuing to reap the benefits of using cloud-based software<\/a> to connect, centralise, access and analyse your client data more effectively? The answer can be found in the cloud \u2013 here\u2019s why.\u00a0<\/p>\n\n\n\n

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Cloud vs. on-premises systems<\/strong><\/h2>\n\n\n\n

For some accounting firms, the mere thought of migrating (client) data to the cloud conjures images of data breach nightmares. But, contrary to common misconceptions, moving to the cloud<\/strong> is actually the smartest move in terms of data security<\/strong>. <\/p>\n\n\n\n

That\u2019s because cybersecurity risks often stem from outdated and \u2013 hence \u2013 vulnerable systems, while cloud-based solutions from Software-as-a-Service (Saas) providers offer enhanced security compared to traditional on-premises setups. Benefits include:<\/p>\n\n\n\n

Compliance & encryption<\/strong> <\/strong>
Securing on-premises systems is labour-intensive and costly. In contrast, cloud environments offer scalable, continuously monitored data centre access. What\u2019s more, SaaS providers invest heavily in security measures, such as robust encryption mechanisms, strong authentication methods, granular access controls, and continuous monitoring tools to detect and mitigate potential threats promptly. <\/td>		Robust infrastructure<\/strong>
Patch management (i.e., applying updates to software, drivers, and the like to protect against vulnerabilities) on traditional systems frequently results in organisations running outdated software. This leaves them highly susceptible to security breaches. With the cloud, however, SaaS providers continuously maintain, update, and patch the digital infrastructure, reducing costs and efforts for businesses to manage their data effectively and securely. <\/td><\/tr>
Disaster recovery & business continuity<\/strong>
Natural disasters and network outages pose significant threats to data and business operations when servers are on-premises. However, the cloud offers enhanced disaster recovery and business continuity measures. For instance, data distributed across multiple cloud data centres ensures seamless transfer in case of downtime.<\/td>		Automated monitoring <\/strong>
Cloud ERP providers centralize security threat detection and defence, utilising sophisticated systems to prioritise vulnerabilities. Automated scoring systems identify and remediate vulnerable data, continuously monitoring emerging threats. Such a level of centralised of automated monitoring is virtually impossible to reach with on-premises systems. <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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Knowing who to trust: 5 critical questions<\/strong><\/h2>\n\n\n\n

Now, we can already hear you think: \u201cThat\u2019s all well and good, but how do I know which providers to trust wholeheartedly?\u201d Valid question! And the answer is just a few queries away. To ensure the security and integrity of your firm’s data, here are 5 critical questions to ask \u2013 and what to look for in the answers \u2013 when assessing a SaaS provider’s cybersecurity prowess:<\/p>\n\n\n\n

1. Which data security measures are in place?\u00a0\u00a0<\/strong><\/h3>\n\n\n\n

Be sure to prioritise providers that implement robust data security measures. Look for a combination of various best practices such as:<\/p>\n\n\n\n