10 Amazing Benefits of Private Cloud Services for Minnesota CPA Firms
As of 2019, about 72 percent of businesses used a private cloud. Private clouds have certain advantages that are particularly valuable for businesses. Considering the pressures and demands in CPA firms, a private cloud environment can bring flexibility and enable you to achieve increased productivity. However, you must be sure to secure the right private cloud solution for your accounting firm. To make an informed decision, take time to familiarize yourself with the basics of private cloud and understand the benefits of this computing model.
Here’s what you need to know.
WHAT IS PRIVATE CLOUD?
Private cloud, also known as internal cloud or corporate cloud, is a type of cloud architecture that is dedicated solely to a single business or organization. In short, as a single-tenant environment, all the hardware and software resources are available to only one organization as opposed to the general public. This means that the organization using the IT services is completely isolated from others.
Clients using private cloud services store data, run programs and back up information in a virtual environment. Unlike with a public cloud where service providers offer their resources to customers, organizations can use their own infrastructure when they opt for the private cloud.
THE BENEFITS OF PRIVATE CLOUD FOR CPA FIRMS
Now that you know what a private cloud is, you may want to understand how the cloud solution can benefit your CPA firm. Generally, private and public clouds share some basic features. However, private cloud also offers some specific advantages.
Below are a few benefits of private cloud for accounting firms.
SECURITY AND PRIVACY
Accounting firms often handle and hold a lot of sensitive client and employee data. This is why security and privacy are some of the biggest concerns for these firms.
Compared to public cloud, private cloud ensures an improved level of security. All data is stored and managed on servers that only your accounting firm has access to. This reduces the chances of information getting into the wrong hands, effectively ensuring data security and privacy.
RELIABILITY AND RESILIENCE
Most CPA firms manage multiple clients simultaneously. To ensure workflow efficiency, consider investing in the right technology for your unique needs.
The virtualized private server environments provide security advantages. In addition to your sensitive data being more secure, the private cloud allows you to perform backups in real time. Also, the virtual operating environment that the private cloud offers is more resilient to failures. Lastly, by pooling resources from multiple servers, you are better able to decrease downtime even when some servers crash.
Unlike public cloud services that are associated with a predetermined network setup, private cloud allows for greater flexibility and control. The cloud computing services and infrastructure are hosted privately. As such, your accounting firm will have more control over both your data and infrastructure.
With a private cloud, you can purchase the hardware and software that you prefer rather than being limited to the options the cloud service provider offers. This means less time and effort on your part.
Private cloud computing can contribute to improved performance for CPA firms. With dedicated hardware, you will not be sharing bandwidth or infrastructure with other organizations. This helps to reduce the risk of resource and capacity contention.
Furthermore, you can tailor the infrastructure to your needs when you adopt a private cloud. This will enable you to make the best use of this type of cloud architecture. In the end, you are likely to realize predictable and improved performance.
IMPROVED RESOURCE UTILIZATION
When you choose a private cloud model, you will be able to organize, allocate and utilize resources in the most optimal way. Private clouds enable your team to adjust and deploy workloads to different servers depending on the changing demands.
Using the available resources efficiently helps you to avoid putting unnecessary strain on your network, while at the same time ensuring the resources are available where they are needed most. This way, you will be able to reduce your manpower requirements, improve energy efficiency, achieve higher productivity and lower your operational costs.
When it comes to cloud services, there is no one-size-fits-all solution. Fortunately, private clouds make it easy to customize hardware and software to meet your individual needs perfectly.
Because a private cloud is only accessed by selected users, you can build and configure it the way you see fit. This way, you will be able to develop a network that will effectively serve your firm. The customization can be done according to the size of your accounting firm and your business objectives.
Things are bound to change as your accounting firm grows. Having the right cloud infrastructure in place will go a long way in ensuring the technology meets your evolving needs. With private cloud virtualization, you can increase IT resources by simply configuring and installing new servers. Easy scalability enables you to handle your workloads and meet changing demands. It also helps to save you both time and money.
Considering the numerous benefits that private clouds offer, the computing model can help your accounting firm to get the most out of your servers. In addition, the increased flexibility, energy efficiency and improved resource utilization will also save you money. Lastly, compared to public cloud, you will not incur the monthly fees associated with using another party’s servers.
Despite the initial costs of setting up the necessary infrastructure to support a private cloud, you will end up saving a significant amount of money in the long run.
Just like other businesses, CPA firms have to comply with the relevant data laws and policies. Part of this involves ensuring data security and privacy, especially when it comes to customer information.
When you own a private cloud, you will have greater control over the data in your custody. Also, compared to a public cloud, it will be easier to access security logs in case of a data breach. This will go a long way in helping you achieve and maintain regulatory compliance.
ENSURING BUSINESS CONTINUITY
When you do not own your cloud infrastructure, ensuring business continuity may prove challenging. With the public cloud, there is the possibility that your service provider will go out of business. This presents real risks that may undermine your long-term plans.
Private cloud computing offers more control, privacy and security. This makes it easier for you to develop and maintain a business continuity plan.
Private & Public Cloud Technologies For Minnesota CPA Firms
Are you looking to adopt a private cloud solution? At On-Site Computers, we provide IT services and IT support that can help ensure you have the right cloud solution. Our team of professional technicians is committed to assisting CPA firms in Minnesota to realize a tangible return on their technology investments. Feel free to contact us to book your no obligation initial assessment with one of our technical advisors.
Thanks to Kelly and Sean at Orbis Solutions, a Las Vegas IT Services company for their help with this article.