Despite major advances in Cloud technologies and the Cloud rapidly becoming an almost magical word in the IT community, other industries have been more hesitant of taking advantage of the new opportunities it presents.
In their article exploring how the Cloud can potentially help banks more effectively reduce risks from fraud, BizTech Magazine notes that the financial sector has been one of the slowest at adapting to the Cloud.
Some of the major reasons for this hesitancy are the heavy regulations faced by that industry; rapid changes are difficult and discouraged. Regulation can take several forms, some of the most common being GDPR compliance or data sovereignty generally; if you have your storage locally (even if the server is still based on the Cloud in a hybrid setup), you can prove that you and only you have the sensitive data and that it is geolocated in the country of origin. For some companies in especially sensitive industries, such as healthcare, these considerations trump the benefits offered by the Cloud.
Entirely on-premise solutions still represent one of the safest options on the market. However, these solutions come at the considerable drawback of increased operations costs, a lower degree of agility and flexibility, as well as potential scalability issues since you have to maintain your own physical server infrastructure.
Top reasons to archive in the Cloud
At the same time, there are several major reasons pressuring companies even in security-conscious sectors to transition to the Cloud. The cost difference between archiving your data locally and in the Cloud proves in many cases to be one of the key benefits and the deciding factor.
Scalability ties back to the same factor as the aforementioned storage costs; the complexity of expanding on-site server storage and the increased costs it incurs can instead be as simple as purchasing more Cloud storage space.
In today’s environment of increased work from home or hybrid offices, the Cloud also represents a critical increase in flexibility where you can rapidly adjust your setup to fit any new requirements. This is especially important for firms that anticipate rapid growth or shrinkage in their data footprint. Without being tied to a physical company-owned infrastructure, it is possible to rework storage to match expectations on very short notice.
Archiving either in or off the Cloud with TECH-ARROW
TECH-ARROW has decades of archiving experience in all three configurations – in the Cloud, on premises, or as a hybrid of the two. If you have any questions regarding which of these possible solutions is right for you, do not hesitate to contact us. We can help you identify the solution and setup that best meets your needs.
Take the best steps to protect your data – with TECH-ARROW.
Source: BizTech Magazine