Over the last few years, there has been a radical transformation in business processes and functions as businesses have increasingly transitioned to using cloud-based services and turned away from their use of traditional physical infrastructures.
Financial institutions are quickly learning that the future of banking is in the cloud. To stay competitive, improve security, and provide more diverse service offerings for end users, financial institutions will look to the cloud for solutions. Banks have traditionally been slow to move to the cloud due to security and compliance concerns but as of recent, have begun to fully understand the full potential and benefits of the cloud. Confidence in the cloud has skyrocketed as of recent thanks to improved levels of security and compliance associated with cloud strategy.
If you’re a small business owner, chances are you have your hand in almost every part of your business. You probably wear many hats, like key decision maker, employee, stakeholder, investors, risk manager, etc. Above all, you realize there is little to no margin for error when it comes to your business.
Over the past several years, there has been a significant increase in cloud adoption. As more businesses see the benefits of the cloud such as cost savings, easy scalability, and improved performance, they have shifted away from traditional physical data centers and network infrastructure. In 2017, the global public cloud market was $146 billion; this figure is expected to rise to $178 billion in 2018. In addition, the global public cloud market is expected to grow at a compound annual growth rate (CAGR) of 22 percent.
Regulations, technology and customer engagement are 3 huge issues concerning businesses in the insurance industry in 2018 and into the future. Insurance agencies, now more than ever, need to be leveraging the cloud in order to quickly adapt to changing customer expectations, emerge into new markets, and ensure data compliance, among many other reasons. According to a study done by Novarica, 70% of insurers are now using cloud computing in some shape or form. With the cloud computing market exploding, insurance agencies will continue to demand these services. Here are some of the following areas where insurance agencies can benefit from the cloud:
The use of the cloud is rapidly becoming the gold standard for data storage and management by businesses. There has been an exponential increase in the number of companies that have migrated their data to the cloud over the past few years. At present, at least 96 percent of all organizations use the cloud in one form or another.
In today’s business environment, companies are dealing with threats left and right. Cyber attacks are on the rise leaving precious data (from financials to employee data to customer data) vulnerable to hackers, theft, and viruses. Not to mention human error and disasters that can create serious concerns for your business. Businesses are finding that the safe, secure, and reliable way to protect data is in the cloud. Backup as a Service (BaaS) has become an integral part of any data security plan due to growing threats, but also due to the ease and simplicity of moving backups off-site and away from harm. Below are the top use cases for BaaS:
High profile data breaches and leaks have brought a lot of attention to cyber security of late. With so much information now stored in the cloud, many people are naturally concerned about how to prevent data leaks. Although, in many ways, cloud storage is more secure than traditional on-site storage, there are still concerns. Here are seven good ways to make sure that your cloud data is secure:
With the rise in ransomware, there's been a lot of chatter about the need for a disaster recovery plan. In some cases,cloud-based backup (BaaS) and disaster recovery (DRaaS) options seem like an expensive tool that may never have to be used. The reality, however, is that there is a high ROI for cloud-based backup and disaster recovery. While it can be difficult to calculate an exact number for the return on your investment, a basic understanding of the potential gains will help you determine whether or not a cloud backup option is the right choice for your organization.