Is cloud software ready for prime time?
While cloud-based enterprise solutions like CRM and HR have been widely adopted by large, medium and small businesses, some companies are still hanging on their on-premise ERP to run their core functions.
One of the early fears in cloud adoption was storing data outside of the company firewall, and the safety of that data.
According to a 2019 research by Cybersecurity Insiders, the top concerns remain Data privacy/confidentiality and Data loss/leakage. Other concerns revolve around compliance, security, data residency and indecent response.
“Google alone spent $30 billion in cloud infrastructure and security”
All major Cloud platform providers are fully aware of these concerns and that have in place budget and resources to make sure that these worries don’t become a reality. In 2017 Google alone spent $30 billion in cloud infrastructure and security (and the other players don’t deviate much from this). There are very few organizations that can effort such a budget for their IT infrastructure, being cloud or on-premise.
The bottom line is that, in most cases, it’s more likely that a major cloud player can protect our data better than we can do on our own.