On-prem servers require additional temperature-controlled office space, maintenance, and compliance checks. They’re also more susceptible to data loss because all your data is stored on an in-house server. Simply put, your secure data is less safe when you store it in an on-prem data center; that’s why it’s best practice to use cloud-based data centers as an alternative system.
Cloud data storage gives you the benefit of on-prem servers without requiring additional office space and costly upkeep. However, if you do not diversify data storage within your organization, you still risk cyberattacks, data breaches, and data mismanagement.
A single source for data storage is not only risky but is also inefficient. It’s best to have two or three backup locations in case one of your servers is compromised or experiences a natural disaster, malware, phishing, ransomware attacks, or human error (the most common).
Read on to know the main reasons for diversifying your data storage. We’ll also discuss data storage best practices and ways you can improve your firm’s data management.
Top 3 Reasons to Diversify Your Firm’s Data Storage
Globally, 83% of businesses store sensitive data on a cloud-based server. Regarding cloud use, 22% of users routinely share files on the cloud, and as much as 48% of cloud-stored data files eventually get shared with other staff members.
However, having only one cloud-based storage solution places your firm at unnecessary risks associated with data security. You may encounter lost, encrypted, or corrupted data you cannot access when needed. To mitigate these risks, you should consider diversifying your data storage through several cloud-based servers that offer SaaS (Software as a Service) subscriptions.
Here are three reasons you need to diversify your cloud data storage providers.
1. Stay Online During an Outage
Cloud companies, especially the most well-resourced, have several elements built right in that make servers increasingly available for their customers. They often boast little to no downtime, but even international tech giants can still struggle with outages.
While most cloud companies have contingencies in place to ensure increased uptime levels, service disruptions still occur. This is perhaps one of the most apparent reasons for hosting data on multiple clouds.
Cloud companies occasionally make determinations affecting customers’ experiences with the cloud platform. For example, as crews changed en masse to remote meetings during the onset of the pandemic, Microsoft was forced to redirect several resources from the Azure platform to support increased Teams traffic.
Then, in March 2021, Microsoft reported worldwide outages of some essential Azure services. Upon making the announcement, developers blamed the outages on changes to their authentication systems. Only one month later, Microsoft announced another similar outage.
Smaller and more regional data centers are also at risk. An incident inducing an outage could be from inclement weather, such as in Texas during the winter storm in 2021.
Hosting data in multiple clouds can help prevent downtime that could otherwise cause your firm to shut down for hours or even days. One of the best backup solutions in the accounting industry is Rewind. They offer backups in Microsoft 365 with endless data storage capacity, and it even takes new backup snapshots every four hours, so you always have the latest file version.
2. Worry Less About Ransomware Attacks
Ransomware – a cybercrime involving hackers who encrypt your data using specialized software – is a significant problem for accounting firms and businesses in other industries. Approximately 68% of all U.S. businesses hit with ransomware pay the fine.
Having immutable backup storage will prevent unauthorized access (or deletion) of your firm’s files. Immutable backups protect data by ensuring it’s fixed, unchangeable, and can never be encrypted, deleted, or modified.
Since you have your files in multiple locations, hackers may find it more difficult to identify every location. Furthermore, you aren’t forced to pay the fee to the hackers in hopes of getting your firm’s data back.
3. Save Your Reputation and Bottom Line
Losing your clients’ data is the ultimate no-no for any business, especially for accounting firms. Firms with subpar data security protocols put themselves at risk for class action lawsuits, ransomware attacks, and other costly damages.
The worst is the damage to your firm’s reputation. No one wants to work with an accountant known for losing data or who encounters cyberattacks. Additional data storage is worth the investment, especially when the average firm pays well over $1,000,000 for remediating a ransomware attack.
In the end, you are investing in an additional security blanket that will help you maintain your reputation with your clients while allowing you to sleep better at night knowing your data is protected.
Migrate to the Cloud with Ease with the Help from Tech Gurus
Do not risk migrating to the cloud with IT experts unfamiliar with the nuances of working with accounting firms.
At Tech Guru, we help accounting firms like yours migrate to the cloud frequently. With more than 18 years of experience in IT, we can help you resolve your data storage issues and assist you with diversifying your firm’s data storage.
We are not only IT professionals but also tech gurus who specialize in managing accounting firm IT operations.
Does your accounting firm need help to migrate data to the cloud or diversifying its current cloud solution? Schedule a call to speak to one of our IT specialists. We’re here to help you with the integration process.