Debunked: 3 Myths Holding Businesses Back from Moving To the Cloud

There are several myths that businesses of all sizes believe in when it comes to migrating their data to a cloud-based service. In reality, the cloud helps businesses save money and time, and most importantly, secures their data. In this article, Grant Howe, chief technology officer at ECI Software Solutions, bursts some myths around moving to cloud. 

In today’s world, cloud-based software is critical. In 2020, it’s become even more valuable for small businesses in the wake of COVID-19. Though migrating to the cloud may feel overwhelming to some companies, in reality, it’s the best option for a business of any size. 

Security, cost, and time are three variables cited most often as reasons companies hold back from moving their business data to the cloud. However, these are simply myths that keep people from investing in the cloud, which is the most cost-effective, time-efficient, and data-secure solution for every business.

According to a recent studyOpens a new window conducted by ECI Software Solutions, small and medium-sized businesses use cloud-based software the most out of any technology, with 65% of respondents currently using it and another 28% interested in using it. 

Those that are resistant to learn more about the cloud are likely to fall behind in the business world, which is why debunking the myths about this technology is important. It is crucial that business leaders and decision-makers examine some of the most repeated falsehoods about the cloud and accept the truth behind the mythical-like technology solution.

Myth 1: Lack of Time and Access 

Business leaders may be intimidated by the cloud because they believe access to their information and data won’t be as easy as reaching into the filing cabinet positioned next to their desk. In reality, data in the cloud is completely accessible 24/7, 365 days a year, from any device with an internet connection. This is useful for all businesses, particularly for those working off-site or irregular business hours – a common event in today’s pandemic-stricken business environment. 

In addition to ease of data stored in the cloud, the time commitment to use the cloud is minimal. A perpetuated myth is that the time it takes to set up the cloud is greater than the time it would take to hire someone to set up the hardware traditionally used in the past to store data. This is simply not true. 

Because the cloud requires no software installation, employees can focus on business growth instead of install time. Storing business data in the cloud improves business planning by allowing ease of access to all past and future reports. It quickens the decision-making process by allowing employees access to large amounts of data instantly. 

Cloud also makes it easier to respond to customers’ needs by allowing access to critical customer information from anywhere with a WiFi connection – not just in the office. Business leaders also don’t need to set aside time for any maintenance projects, as software patching and upgrades are performed remotely by the provider and take very little time. 

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Myth 2: Unreliable Security 

Data security should be a top priority for all businesses as it protects business assets, like accounting information, employee documentation, payroll, and customer data, such as billing information. However, many people think that having data in the cloud makes it less secure. Contrary to what some may think–data is actually more secure with a cloud-based solution than when it is on-site. 

Cloud providers offer numerous layers of protection in a practice known as “redundancy.” This practice involves backing up business data automatically and storing it at multiple sites. Consider this: if a fire were to break out on-premise and reach the server room, a business could be down for days, weeks, or even months due to hardware damage that takes time to repair. 

With the cloud, a business is safe from server theft, fire, or a natural disaster. If an unfortunate event were to happen, businesses that are on the cloud can be up and running faster because the data is accessible from anywhere with an internet connection. 

In addition to the practice of redundancy, certain cloud-based solutions offer a level of security from ransomware and malicious attacks that small to medium-sized businesses simply could not afford on their own. According to the ECI Software Solutions report, cybercrime is cited as one of the top five biggest threats facing small and medium-sized businesses today. Cyberattacks continue to be on the rise, especially during the pandemic, when so many people are working from home. 

While any type of cybercrime can be extremely detrimental, the negative consequences of a data breach to a small business, in particular, are numerous and overwhelming. With a cloud-based solution, there is constant vulnerability management, from patching of firmware, operating systems, and applications to endpoint protection, stopping malicious attacks before they do damage. 

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Myth 3: Expensive Fees and Upfront costs 

Gone are the days of massive server rooms full of hardware and devices needed to run a business. Business owners often think that the cloud is expensive, but despite what some may think, a cloud-based solution saves money. An investment in the cloud requires no infrastructure investments and involves fewer resources to maintain it. 

Additionally, the cloud makes business management solutions, like an enterprise resource planning (ERP) system, more affordable since the software is always current, and monthly costs are based on a subscription model – helping business leaders predict their business costs well in advance. 

Another way the cloud helps conserve money significantly is the savings that come from decreased power consumption and reduced waste of paper and related consumables – again, these are often unpredictable and expensive, and the cloud eliminates them.

With cloud-based solutions, small and medium-sized businesses can receive enterprise level security without the enterprise-level cost – a huge bonus for businesses that might have a small or non-existent IT team. 

No business wants to be held back by the inefficiencies and time-constraints required when growing and operating a business. By moving to the cloud, scalability is quicker, less stressful, and cost-efficient. When it’s time to open a new location or expand the business remotely, business leaders won’t need to order a new server or wait for installation and programing. 

Instead, leaders can expand their business in a matter of hours with the cloud – saving precious time that can be used elsewhere to grow the business. There are countless myths about the cloud, but when looking at the facts, the cloud is the most secure, cost and time-efficient option available for businesses.

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