Everyone is talking about the cloud these days – and with good reason. Cloud computing is connecting the world like never before. It’s easier to collaborate, transfer and access information, and protect your data from hardware failure, all at a fraction of the price of setting up a local server. Cloud computing isn’t perfect, however. Before you make the leap, read this guide to determine if cloud or in-house software is right for you.
Cloud-Based Software – The Way of the Future?
Cloud-based software is all about speed and accessibility. Your entire team can access data wherever they are without getting frustrated with finicky VPNs, teammates can collaborate in real time without emailing different drafts back and forth or waiting for the server to sync, and an in-house network failure doesn’t render your data inaccessible (or worse, obliterated). All this comes with other attractive features like quick setup and a reasonable price tag, making cloud-based software a good choice for young companies whose data needs are mostly centered around speed and agility rather than power and robustness.
Cloud computing isn’t for everyone, however. Many cloud solutions, for instance, operate on a “pay as you use” model, allowing businesses to buy more or less storage or power as their needs change. This is all well and good until the business grows and has greater and greater computing requirements. Costs can rise exponentially and quickly become unsustainable. Businesses that rely on cloud computing are also at an increased risk of cyberattacks. Many business owners are undereducated about best practices for cloud-based security, including what is the responsibility of the provider and what is the responsibility of the business. This can lead to easily exploitable holes in data protection.
In-House Software – Still King?
There are plenty of reasons why an in-house server setup might still be the best option for your business. If you handle a lot of sensitive customer data and want more control over your privacy and security, an in-house solution might be for you. Further, if you need to store large amounts of data, regardless of whether or not it’s particularly sensitive, you will likely find that the initial high setup costs of an in-house solution will be offset by later savings.
Of course, there is a serious price tag attached with in-house computing. Most servers and networks cost a fair amount to set up and maintain, and you’ll need to factor in the cost of paying an outside consultant every month or standing up an in-house IT department when you consider your total investment. Plus, if there is ever a problem with the network or a flood or fire damages the server room, you could be looking at massive data loss if you don’t make liberal use of an offsite backup.
Which Solution is Right for Me?
That is a great question, and one that can best be answered by taking a thorough inventory of your current computing and data storage needs. You don’t have to decide overnight, and you’re also not stuck with whatever you choose forever. You can absolutely start off with a cloud-based solution and transfer to an in-house setup if that becomes necessary down the road. If your in-house system feels like it’s crushing you, you can switch to the cloud. At 360 Payments, we know a thing or two about data storage and access – after all, we help customers every day manage their payments securely and effectively. Give us a call at 1-855-360-0360 or drop us a line on our website. We’d love to show you what sets us apart from the competition.
PS – Recurring payments might be just what your business needs to take it to the next level. Learn more here.
PPS – Thinking about a small business loan? Read this first.