Security experts say 2023 will be the year of the Cloud.
A Gartner report predicts 85% of businesses will adopt a “Cloud-first principal” by 2025, moving away from on-premise data storage and security software.
The report also predicts worldwide spending on public cloud services will grow from $494.7B last year to nearly $600B this year.
The mass exodus from traditional security technology is due to three factors: lower cost, more flexibility, and better security. The pandemic forced businesses to move everything online, which made data more vulnerable to breaches and hacks. So, businesses pivoted to cloud computing for digital transformation and security to protect those working from home. That’s why businesses should learn about the pros and cons of cloud and on-premise security now.
Cloud vs. On-Premise Physical Security
Cloud-based security lets businesses store and process their data on remote servers on the internet. Those third-party data centers must ensure their infrastructure is secure and that their clients’ data and applications are protected.
The cloud-managed service provider will charge a monthly or annual subscription to pay for security measures like prevention, detection and corrective controls. The cloud architecture also manages performance checks, information security and encryption updates, backup recovery and system optimization.
The cost of cloud-based security solutions depends on the subscription. Despite the fee, experts say the long-term return on investment is often higher because server maintenance, software upgrades and purchasing licenses are all built into the cloud fees. Cloud computing allows enterprises to move their workload on the cloud platform where it is most cost-effective.
Studies show in some cases, businesses can save 80% of hard costs by moving from on-premise security to a cloud provider.
Another benefit is that cloud solutions allow remote access for everyone, anywhere they live or work, which lowers administration and personnel costs.
Businesses that use an on-premise system need a dedicated server to maintain their data and security. This requires them purchasing hardware and licenses that will allow them to run software on their local servers. They may have to pay extra for backing up and recovering their data too, whereas backups happen instantly on the cloud. On-premise security also requires physical space, while cloud-base security solutions are more flexible for scaling a business.
But the real headache of on-premise security is the responsibility – and liability – of protecting and securing the personal information of customers.
Clever Division
That’s the very reason the software company Red Maple created Clever Division. The cloud-based software means that you don’t have to worry about hacks, breaches or even employee theft anymore.
Clever Division safeguards customer credit card numbers by dividing up the information, locking it up in different cloud-based vaults, and deleting data. The sensitive information is scrambled, incomplete and therefore, useless to cybercriminals.
The beauty of Clever Division is that customers can place orders online, by phone, email and text. The rest is up to you. Customers can provide you with some of their credit card numbers – or none at all. Instead, the system automatically generates an email, text or phone call to the customer so that they can enter the remaining numbers or their entire credit card information. That means you never see it. After that, your processor verifies the credit card number and Clever Division delivers a secure token to finalize the sale.
The two-factor authentication means the full credit card is never stored, so the data remains separate and secure. It literally takes the weight off the shoulders of business owners – who no longer have the burden of protecting data from savvy malware and cyberattacks.
This kind of cloud-based security system drastically reduces theft and fraud because it eliminates data network breaches, employee theft, and reduces your PCI footprint. In some cases, you can qualify to use an SAQ-A.
Cloud Security
But not all cloud software systems are as safe as Clever Division. In a 2022 State of Public Cloud Security Report, many organizations listed cloud security as a top IT priority, but they still weren’t following basic security practices such as maintaining strong passwords.
Most experts agree that on-premise security systems can be more vulnerable than cloud security. This is because of the human error factor. Businesses may be slow to detect and respond to attacks while cloud computing uses automated software to mitigate threats as they occur and constantly monitor the system.
In 2023, the answer to better security, less cost and more flexibility for businesses will be found in the cloud. According to the McKinsey Global Report, cloud technology will be the best way to provide maximum security for your data.
FAQs
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By 2025, what percentage of businesses will transfer some part of their enterprise to the cloud, according to experts?
85%
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Why is cloud computing better than on-premise physical security?
Experts say the ROI is higher because server maintenance, software upgrades and purchasing licenses are built into the cloud fees. Cloud computing allows enterprises to move their workload on the cloud platform where it is most cost-effective.
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How does Clever Division protect customer information?
Clever Division safeguards customer credit card numbers by dividing up the information, locking it up in different cloud-based vaults, and deleting data. The sensitive information is scrambled, incomplete and therefore, useless to cybercriminals
