Cloud computing has become one of the most popular technology trends throughout the last few years, with an expected growth rate of 124% by 2025 (Cloudwards.net). This popularity is also partly due to the new wave of a hybrid workforce that many organizations have adopted in 2020. This age of remote working has also impacted cybersecurity, making it easier for cybercrime to take place. According to a study done by Barracuda Networks the number of data breaches skyrocketed by as much as 300% since the 2020 surge of remote and hybrid work conditions. There are many cloud computing security measures available to help your organization avoid these cyber-attacks, and below we will discuss the true price of cloud computing and the value it has in protecting your business.
Not only are data breaches for an organization extremely costly, but they also come with an array of other problems including:
- Loss of Sensitive Data
- Operational Downtime
- Legal Action
- Reputational Damage
- Permanent Data Loss
Migrating to a cloud solution will help avoid these costly data breaches and help protect your business from future cyber-attacks. Prevention is cheaper than getting hit with cybercrime. The price of cloud computing is not only the base monetary cost, but also how much financial strain it could save your organization in the future. Below are three ways cloud computing security helps your organization:
Disaster Recovery
Data loss is a big worry when it comes to cybercrime, and permanent loss of sensitive data can be detrimental to an organization. Backups can usually recover an IT system from failure, but a site-wide disaster can erase those backups causing data loss and severe downtime. Disaster recovery is a cloud computing security measure that can recover your data from an extreme event quickly and efficiently to allow your organization to return to normal operations.
Real-Time Monitoring
The ability to monitor the status of your data can help to strengthen your organization’s security. Observing trends, patterns, and traffic across all applications could reveal if something is wrong or unusual in your system. The right cloud solution enables real-time analytics and data status reporting 24 hours a day, seven days a week. It can also keep an eye out for unusual events and give out alerts if they occur. This allows your company to identify and monitor any abnormalities to avoid malware and ransomware attacks. This security feature can provide you peace of mind because you’ll know your data is being constantly monitored, even when you’re not online.
Single Sign On
Your organization can use the cloud to handle various aspects of your business including applications, workflows, and data management. Single-sign-on (SSO) can be setup for all these features and adds an extra layer of security to prevent cyber-attacks and password difficulties. SSO ensures you have a secure business environment by requiring multi-factor authentication when signing on to halt anyone from outside the organization from attempting to log in and makes things easier for your users, streamlining the login process across all your business applications.
When considering the price of cloud computing solutions, it is important to look beyond the base monetary value, to see the value of how cloud can protect your business. With so many beneficial cloud computing security measures, it is more valuable in the long-term for business continuity and security protection.
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