The cloud approach is gaining immense popularity amongst businesses due to its scalability, enhanced productivity, and cost-effectiveness. According to Cisco, in 2021, over 94% of workload and computing processes will be hosted on the cloud. While many firms are already implementing and thriving with the Cloud, a few still remain to deploy this technology. This blog is a simple guide to help you understand every aspect of the Cloud, and how your business can drive success with Cloud Application Development!
- Knowing the Cloud!
- What is a ‘Cloud-based Application’?
- Benefits of a Cloud App
- Types of Cloud Application
- Key Features to Consider When Developing a Cloud Application
- Some Examples Of Cloud Application
- Developing a Cloud Application
- A Look at the Tools to Build Cloud-based Apps
- Challenges of Cloud-based Application Development
- A Few Common FAQs
Knowing the Cloud!
In simple terms, the cloud refers to software or service that is accessed over the internet. The cloud uses data centers to store data, which enables easy access of files and applications from anywhere and from any device.
For businesses, leveraging cloud technology can immensely reduce IT costs and overhead, eliminating frequent updates and maintenance of servers. Cloud computing can also simplify international operations for companies by allowing seamless access and control of files and data from anywhere. Google Drive, Dropbox, Apple iCloud, and Microsoft OneDrive are some widely used cloud services today.
What is a ‘Cloud-based Application’?
In the last decade, cloud computing has experienced a tremendous investment. By the end of 2023, the global cloud market is estimated to reach over $ 623 billion.
Typically, a cloud-based app is an Internet-run program having its components stored online with some or all of its processes carried out in the cloud. These on-demand services allow you to access computer networks, storage, or resources using the internet.
Cloud-based solutions help businesses augment capacity, scalability, and functionality while at the same time reduce maintenance and cost for computer infrastructure or in-house teams.
Common solutions provided by cloud-based applications may include;
- File storage and sharing
- Order entry,
- Inventory management
- Word processing
- Customer relationship management (CRM)
- Data collection
- Financial accounting features
Benefits of a Cloud App
The cloud is creating a huge impact on businesses. According to Gartner, over 60% of companies will majorly rely on the cloud for their operations by 2022. Of course, this means that the cloud has some huge benefits to offer for businesses. Here are a few to highlight.
1. Improved data sharing and security
The data stored in the cloud is easily and instantly available to authorized users. Since the cloud offers easy availability of data, security and privacy are often a concern. That is why the advancements in cloud technology have majorly focused on providing enhanced data security. Many cloud providers now guarantee improved data security, making the cloud the best source for secure storage. Also in case of disaster recovery is inevitable, the cloud provides a streamlined solution to restore and back up data.
2. Improved collaboration
Cloud-based apps and software enable organizations to make collaboration an easy and effective process. These applications provide easy data sharing and editing options allowing employees to work effectively on projects remotely and in real-time. Role-based access control enables better monitoring of tasks, and improves team management, especially when operating remotely. Improved collaborations can help enterprises to reduce time-to-market and enhance customer service. InfinCE is a prime example of how enterprises can use a cloud-based app to improve team collaboration. The app provides centralized management, enhanced visibility, and easy communication that drives operational efficiency and productivity.
The cloud space can be scaled up or down depending on your business needs. Cloud service providers allow you to pay per usage of the cloud infrastructure allowing you to only pay for the services you need. Most cloud providers offer seamless concierge support and regular maintenance, which in turn immensely helps reduce the stress and cost of maintenance. Moreover, there is no need to invest separately on devices to store data, as the cloud ensures safe and secured data storage. Put simply, cloud-based apps help enterprises reduce the upfront cost of the IT infrastructure and hence are a cost-effective solution.
Types of Cloud Application
To proceed with cloud application development, you will have to decide what type of app you would want to create. One way to classify the categories is about the differences in the app architecture.
SaaS – Software as a Service
SaaS serves both cloud apps as well as individuals. These apps run on third-party hardware and not on the user’s device. Also, the software is hosted remotely. A big advantage of SaaS is that you don’t have to spend on additional hardware or buy licenses for every software update.
IaaS – Infrastructure as a Service
This type of product often requires middleware and app support from the clients. The customer may have to create a custom programming bridge between the application and its operating system. However, with IaaS, one can develop a customized product without building the basic components from scratch.
PaaS – Platform as a Service
This cloud-based app development requires the application code from the customer. PaaS providers allow their customers to use their hardware and basic development software. As this software is updated constantly, developers can use only its latest version. PaaS is flexible and lets the users scale the product as per their needs. Cost efficiency and flexibility are some of the major benefits of PaaS.
Key Features to Consider When Developing a Cloud Application
The Cloud is a powerful technology, which if leveraged the right way can do wonders for your company. That is why it is imperative to be clear and sure of what benefits you need exactly to derive out of the cloud application development. Here are a few things to consider when fixing the features of your cloud application.
One of the most eminent features of the cloud is that it provides ample space for flexibility and scalability. With the cloud, one can empower safe storage of data that can be expanded as per convenience.
Most users prefer the cloud because of its storage facilities. However, its security is always a concern. When investing in cloud application development, one must highly prioritize app and data security by ensuring a code-based architecture for improved security.
Although the cloud delivers unlimited benefits, cloud hosting comes with a cost. Thus, data size optimization and condensed user requests should be the top priorities while developing a cloud platform.
To ensure you attain maximum benefits from these and the many other features of the cloud, it is imperative that you partner with developers who are highly aware and experienced with the diverse cloud platforms so that you attain software that perfectly suits your business needs. Moreover, following an agile method of development would allow you to collaborate better with your developers, programmers, designers, data architects, and QA managers for improved development efficiency. At Fingent, we ensure client participation at every stage of app development.
Some Examples of Cloud Application
Most of the apps we use today, utilize the cloud in one way or another. Cloud application development has given birth to some amazing tools and services that make operating businesses a little less stressful. Here are a few to point out!
- InfinCE: Provides streamlined and simplified IT Infrastructure, centralized management, enhanced work collaboration, access to unlimited productivity tools, all under a single platform.
- Dropbox or Google Drive: This allows you to store your files on the cloud easily and help others access them from anywhere.
- Figma: This powerful cloud-based design app is gaining popularity due to its collaborative nature.
- Miro: This provides a virtual board that enables you to work with other users in creative and fun ways.
The possibility to collaborate with users from all over the world, even in real-time is one of the biggest advantages of cloud apps.
Developing a Cloud Application
Cloud application development involves different stages, each of which matters to enable your app to hit the market. Most cloud application development teams use DevOps practices and tools such as Kubernetes to ensure an effective and successful project.
At Fingent, we analyze your business needs and custom-build apps that solve your business complexities. We can help you seamlessly transit to the cloud and efficiently deploy its benefits to achieve greater business growth and value.
A Look at the Tools to Build Cloud-based Apps
A wrong tech approach can slow down your business development, so the technological stack is of utmost importance when developing cloud-based apps. You can choose a cloud service vendor from market leaders such as;
- Amazon Web Services(AWS) – In 2019, it obtained a 32% market share and became the leading provider. AWS includes over 140 flexible and integrative services. This allows you to build almost any custom app.
- Google Cloud Platform – As a PaaS, it offers you cloud computing, API services, advanced analytics, storage, NoSQL database service, and even virtual machines. It is flexible, affordable and a great platform for start-ups.
- Microsoft Azure- Its solutions are designed for enterprises looking for scaling or having many web products. Its services may include ML modules, mobile back-end, database services, and virtual machines.
Cloud-based app structure
- Another aspect to consider when cloud application development is the data architecture. A cloud app operates as a collection of interconnected services or APIs. So, to get maximum benefits of cloud services, you will have to connect them and at the same time understand the kind of components you have while ensuring that those services are integrated.
- Next, you must consider data organization. Remember, the app architecture must instruct the cloud services about how to decouple the data. This will help you store the app components either on a public or private cloud. As a result, your business will become flexible and enable you to make your web performance better.
- You must develop a communication logic between the data and services of your app. The app components should communicate instantly. If the logic is not well-designed, the customer experience could be poor due to slow loading speed. So, optimize the communication and apply either single-channel streaming or system message grouping.
- Scaling is something you must think of in advance. Create a margin of safety for your operational channels and consider future traffic extensions. Make sure to build an operational model to help back-end components and storage server customers especially in extreme situations.
- The last issue to think about is the security algorithm. Banking, retail, or healthcare have their dedicated standards so make sure your tools meet their expectations. Make sure to check the security algorithms for any vulnerabilities of your cloud-based solutions and the encryption is strong. Also, implement a cloud identity and access management (IAM) approach, to ensure your product is secure and cost-effective.
Challenges of Cloud-based Application Development
When you decide to opt for a cloud-based software solution you should figure whether your company can be a cloud provider (SaaS, IaaS, or PaaS) or build an app based on third-party cloud solutions.
If you decide to be the cloud provider, you will have to think of issues such as the data processing logic, hardware, and service security as you will have to host your service and provide the users with a cloud network. If you decide to develop your app on a third-party cloud, you will have to consider the integration and so you will have to choose your provider carefully.
Here are a few challenges that you may come across during cloud application development.
- Reliability: Your cloud software design includes critical operations that need to work if you want your customers to benefit from the solution. Avoid using a cloud framework that cannot maintain important processes. You can consider backup data and operations with a private cloud.
- Scalability: You must ensure to provide a scalable solution with the service you have chosen. If a product can’t be scaled or it falls over due to sudden traffic surges or you are unable to deliver services to a large audience regularly, you are bound to lose potential profits to your business.
- Performance: More data centers mean the better your app will perform. Global providers place their servers in such a way that users can experience the same page loading speed from any location. If the number of servers is less or the custom UI needs more than three seconds to load, the app customer experience is likely to be poor. More loading time means less conversion. The app loading speed is defined by a Content Distribution Network(CDN) which is a part of the cloud app infrastructure.
- Interoperability: The cloud environment should be able to run your app on different devices and integrate other cloud services into your infrastructure. However, as all cloud systems do not communicate with each other, you may not have a chance to mix components from different services.
- Security: Security especially client-side along with storage protection will remain challenging for developers. Security is the biggest challenge when it comes to adopting cloud computing. Cloud apps may include API integrations. These apps also must be easily accessible for users. To raise the security level of your cloud-based app, you will have to leverage strong data encryption, SSL, and reverse proxy.
A Few Common FAQs
1. What are cloud-based technologies?
These technologies are applications, services, or resources that are made available to users on-demand via the internet from cloud computing providers’ servers.
2. How do cloud applications work?
To process logic, a cloud-based app relies on remote servers. This is accessed through a web browser using the internet.
3. What are the different types of cloud computing?
There are three types of cloud computing; public cloud, private cloud, and hybrid cloud.
4. What are the different types of cloud services?
Cloud services are of four types – serverless, infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).
5. What is the difference between a web application and a cloud application?
A web-based application requires some or all the software to be downloaded from the web every time it is run. On the other hand, a cloud-based application function within the cloud and is similar to a web-based application as well as a native desktop application.
From cost reduction and scaling opportunities to higher accessibility of the final product. Cloud application development offers a host of benefits to businesses. However, cloud application development has its own set of complexities if not carried out the right way. A custom software development partner plus a trusted cloud service provider like Fingent can help you seamlessly transit to the cloud with 24/7 concierge support and consultation. Get in touch with us today to discuss your project!
How does legacy cloud migration ensure business continuity in FinTech? Explore in this article.
Did everyone have Business Continuity Plans in place and protocols to follow during the pandemic? Yes, definitely. Did anyone expect a disaster of magnitude like this? Not in their wildest dreams or gloomiest forecasts! The pandemic forced hundreds of millions of employees to shelter in place, essentially moving all operations online. Not all organizations were equipped with the needed technological tools, and most businesses were caught off-guard. FinTech companies were not immune to the aftermath.
For example, pre-COVID-19, it is true that a few FinTech organizations began migrating to Cloud. But, conversely, there were many who hesitated to embrace the cloud migration strategy because of legitimate concerns over critical factors such as rising costs, managing complex business data and workloads, re-training existing IT staff, and more.
The pandemic was a wake-up call that helped businesses identify legacy cloud migration as a relevant and vital choice. Though most companies have realized that modernizing old, outdated business applications can boost productivity and increase efficiency; some are still hesitant about their cloud migration strategy.
This blog explains why FinTech organizations must consider legacy cloud migration seriously and what are some specific benefits of cloud migration strategy.
What is legacy cloud migration?
Legacy cloud migration involves moving on-premise applications, outdated software, or programs that a company has relied upon for years. These applications may include everything from sales or CRM applications to industry-specific applications. Some FinTech organizations may be reluctant to migrate to cloud just because legacy cloud migration is a daunting project. However, maintaining a status quo can be detrimental to your business growth.
Legacy cloud migration is the only light at the end of the tunnel
The pandemic has triggered a significant reexamination of FinTech businesses and their IT priorities. Gartner predicts that “by 2022 cloud shift across key enterprises IT markets will increase to 28%.” This era of economic uncertainty caused by the pandemic affected all businesses, especially, FinTech organizations. A report from Yellowbrick showed that 84.3% say cloud computing is more important than workplace disruption.
Thankfully, cloud migration strategy was available when it was most needed – a phase when maintaining business continuity has become a priority. Consider the most important reasons for legacy cloud migration.
Why FinTech Companies Should Embrace Legacy Cloud Migration
1. People matter more than premises
As the pandemic hit the world with one wave after another with no time to catch a breath, there was a dire need for remote self-service technology. The massive role played by people working from home is a clear indication that people matter more than premises. A year ago, cloud migration strategy was considered discretionary. Today, work from home has made cloud migration mandatory.
Hence, now is the time for FinTech organizations to plan for their business continuity to remain adept for future upheavals, disruptions, or even disasters. When your organization migrates to cloud, you ensure your teams’ effectiveness while working remotely.
2. Prepare for the next
Though the pandemic is wreaking havoc, it will recede in due time. However, what remains is a possibility of a similar recurrence of disruption in the future. Hence, FinTech organizations must prepare for future disruption by recognizing that the calamity to come may not be another pandemic but its functional equivalent. Legacy cloud migration will equip you to face any future disruptions and remain resilient.
3. Facilitate real-time payments
Banks are well aware of the advantages of real-time payments. The race is on for upgrades and integrations that allow organizations to leverage real-time payments. A survey of over 500 executives indicated that 71.9% are ‘extremely interested’ in such payment capabilities. Above all, cloud brings in scalability and agility to real-time payments. Cloud migration strategy can improve the speed and consistency of transactions. Besides, it can enable fast and frictionless transactions.
Legacy cloud migration allows banks to adopt digital payments. Banks can address many of their traditional payment pain points, such as spikes in demand.
Collaborating between payment players and cloud service providers can help your organization provide a more secure digital experience for your customers. This is of paramount importance in a world where contactless interaction is the key. According to a McKinsey survey, banks that adopt digital transformation were able to increase customer satisfaction by 15-20%, reduce cost by 20-40%, and boost conversion rates and growth by 20%.
While consumer expectations and payment preferences continue to evolve rapidly, cloud migration strategy will help FinTech industries to stay relevant and continue to grow.
4. Scalability and flexibility for an uncertain future
FinTech firms need an infrastructure that can grow with them and protect their business from future disruptions. Migrating to a cloud platform equips FinTech firms to adapt to branch closures while extending banking services to as many people as possible. Legacy cloud migration provides the agility to scale with speed while saving on on-premise infrastructure that is comparatively expensive to maintain and upgrade. Moreover, it can provide your organization the needed accessibility, flexibility, and scalability during economic downturns.
5. Manage risks and compliance
Efficiency, automation, and cloud-based delivery will be critical for compliance operations. It is vital to use next-generation technology and emerging digital approaches to optimize risk modeling. Since legacy cloud migration is agile, flexible, and low cost, it can solve many challenges in operational risk and financial crime compliance activities. Additionally, solutions deployed in the cloud can assist with operational challenges.
6. Data management
Acquiring large quantities of accurate data is a top priority for all FinTech firms. Their success depends on all the information they must collect, from onboarding to analyzing their spending habits. Cloud migration strategy enables your firm to gather and store data securely while allowing your designated employees to access it from anywhere when required.
The FinTech industry is at a crossroads now. How it responds to the current crisis will determine its future. The key to the survival of FinTech companies will be the rapid digitization of their business and the adoption of cloud migration strategy. Migrating to the cloud is as important as the historic move from typewriter to computer. Cloud migration has become a global force for business growth. It can reduce overhead costs and help your team focus on increasing productivity and performance.
Cloud migration strategy will become inevitable as the FinTech industry builds a more accessible financial world. By partnering with a cloud migration services provider like Fingent, you will be able to quickly and seamlessly migrate to the cloud without disrupting your business. We also help you build FinTech applications and platforms leveraging the latest technology in the market. So, give us a call, and let’s get talking.
How can companies ensure cloud security amid cyber threats and malicious online activities?
The explosion of the cloud has changed the face of the business process as we know it. Nearly 90% of companies rely on the cloud. And yet, there has been some skepticism around cloud security. With recent breaches and technological attacks, maintaining cloud security has become the foremost concern for businesses worldwide.
Security experts at Fingent understand your concern, and so we have put together this blog about the importance of cloud security and the best practices which will ensure that you are secure on the cloud.
Why is cloud security important?
According to a report by Cisco, cloud data centers process 94% of all workloads. Despite the popularity attained by cloud technology, most of these companies are skeptical about cloud security. There is a reason for this. Statista reports the number of data breaches in the U.S alone increased to 156 million in 2020. It has also been reported that hackers attack every 39 seconds. This can be fatal to businesses in the following ways:
1. Managing remote work
Remote work lets you hire talent from across the globe. However, this arrangement entails inherent security risks. Using personal devices may expose your data to malware and phishing attacks. If a malicious virus enters through them into your cloud system, the damage done could cut your company off at its knees.
Read more: Why It’s Time to Embrace Cloud and Mobility Trends To Recession-Proof Your Business?
2. Security breaches
If your company chooses to run your application on a public or hybrid cloud, you are entrusting a third-party to take care of your data. This means you no longer have any control over data security. So it is critical to stay on top of things and ensure that your cloud computing provider is serious about this responsibility. Even when you know your provider will ensure top-tier security, it is your responsibility to verify that your data is secure as a client.
3. Comply with regulations
Data protection standards were put together to ensure the integrity and security of customer data. When you store your customer data on the cloud, it is your responsibility to keep it secure, especially if your organization belongs to a highly regulated industry like finance, insurance, banking, or legal. A data breach will destroy your reputation and brand because external parties will hold you accountable.
4. Build access levels
Unintentional leaks of data will compromise your business integrity and give your competition a leg up. Limiting data access only to those employees who need it can prevent errors that lead to data leaks.
5. Disaster recovery
Disasters such as flooding or fire can strike without warning. Unless your data is secured and protected, you could lose all your data. This may undermine customers’ confidence in your organization, delivering a death blow to your otherwise successful business.
Best practices to ensure cloud security
- Carefully choose a trusted provider
- Review your cloud security contracts and SLAs
- Understand your partnership of shared responsibility
- Control employee access
- Secure user endpoints
- Maintain visibility of your cloud services
- Implement a strong password security policy
- Highest levels of encryption
“Cloud computing is a challenge to security, but one that can be overcome” – Whitfield Diffie, an American cryptographer.
True to Whitfield Diffie’s words, cloud security measures can be taken to encrypt the system that will help achieve adequate cloud security.
1. Carefully choose a trusted provider
Partnering with a trusted provider is the foundation for cloud security. Choose a partner who delivers the best in-built security protocols and follows industry best practices’ highest levels. You need to ensure that you confirm their security compliance and certifications.
Learn more: Take a look at how InfinCE, an infinite cloud platform, ensures secured work-collaboration within an organization and helps enhance company efficiency & growth!
2. Review your cloud security contracts and SLAs
In an event, SLAs and contracts are the only guarantees of service and course of assistance. 62.7% of cloud providers do not specify that customer data is owned by the customer, creating a legal grey area. Read through the terms and conditions, annexes, and appendices to ensure who owns the data and what happens if you terminate the services. Also, seek clarity on visibility into any security events and responses.
3. Understand your partnership of shared responsibility
When you tie-up with a cloud service provider, you enter into a partnership of shared responsibility for security implementation. Understanding the shared responsibility involves discovering which security tasks you will handle and which your provider will handle. It is important to ensure transparency and clarity in your partnership of shared responsibility.
4. Control employee access
Implementing strict control of user access through policies will help you manage employees who attempt to access your Cloud services. Cloud security best practice starts from a place of zero trust. Afford user access to data and systems only to those who require it. To avoid confusion and complexity, create well-defined groups with assigned roles. This will allow you to add users directly to the group rather than customizing access for each employee.
5. Secure user endpoints
Since most of your users access your cloud services through web browsers, it is crucial to introduce advanced client-side security to keep it protected from exploits. Implementing endpoint security solutions that include firewalls, antivirus, intrusion detection tools, and more will help to protect your end-user devices.
6. Maintain visibility of your cloud services
Remember, you cannot secure something that you cannot see. Using multiple cloud services across various providers and geographies can create blind spots in your cloud environment. Make sure you implement a cloud security solution that provides visibility of your entire ecosystem. You can then implement granular security policies to mitigate a wide range of security risks.
7. Implement a strong password security policy
Strong password security may sound basic, but it is an important element in preventing unauthorized access. Have a strong and strict password policy. To defend against most brute force attacks, enforce a rule that users update their password every three months. You may also implement multi-factor authentication. This would require a user to add two or more pieces of evidence to authenticate his/her identity allowing you to trust your users while ensuring that they are authorized users.
8. Highest levels of encryption
Your data may get exposed to increased risk while sending it back and forth between your network and the cloud service. You must consider using your own encryption solutions for data, both in transit and at rest. Encryption keys will help you maintain complete control over your data.
Don’t wait till it’s too late!
You never know when a stealthy hacker could attack your business and make you go under. All organizations, independent of their size, can benefit from these best practices and improve their cloud usage security.
At Fingent, our experts go above and beyond to ensure that your business is hacker-proof and secure. If you need to discuss cloud security options, do not put it on the back burner! It could creep up on you and set your whole business afire, ruining your competitive edge and spelling doom for the future. Call our experts and discuss your options today.
Cloud security threats: How to protect your data and mitigate risks?
Be it Google G-Suite, Dropbox, Adobe, Salesforce, or Microsoft Office 365, almost every business uses cloud services for their critical business requirements. Despite its rapid growth, cloud computing brings the possibility of severe security threats that can drastically affect an organization. According to Cybersecurity Ventures, cybercrime damages might hit $6 trillion by 2021. 1 out of 4 will experience a data breach, and on average, businesses are investing about $7.2 million on security breaches. These figures prove how devastating security threats can be if they are left unchecked.
While cloud systems, applications, and networks are not located within your control physically, the security responsibility and risk mitigation are definitely within your control.
Some of the latest security threats to cloud data management include:
- Phishing attacks
- Ransomware attacks
- Insider threats
- Asynchronous procedure calls
- Distributed Denial of Service Attacks (DDoS)
- Uneven security gaps
Why is cloud security important?
While cloud service providers protect your data, they can’t protect your data when it leaves the cloud to interact with other systems.
Cloud security is essential to protect your data as well as the integrity of your business. According to a survey, 60% of breaches occur at patches that are available but not applied. You will need a team to continually monitor potential security threats to ensure that your cloud infrastructure is always up-to-date.
Regardless of your organization’s size, it would be best to implement strong network security services to protect your organizational and customer data.
Read more: Why It’s Time to Embrace Cloud and Mobility Trends To Recession-Proof Your Business?
Six ways to protect your data and monitor your cloud environment
1. Set-up multi-factor authentication (MFA)
Stolen credentials make it easy for hackers to access your business data and applications is to steal your credentials. The combination of complex usernames and passwords alone is not sufficient to secure your user accounts from hackers.
So, protect your cloud users with two-factor authentication or multi-factor authentication to ensure only authorized people can access your cloud apps and have access to sensitive information.
Deploying multi-factor authentication is an effective way to keep potential hackers from accessing your cloud applications. Most security experts believe that it is mandatory to implement MFA as it is also one of the cheapest security controls an organization can have.
2. Assign access controls
Not all your employees need to have access to every file, application, or data. By setting up proper authorization levels, each employee can only view or access applications or data required to complete their job.
Assigning access controls will ensure that your employees don’t edit any information accidentally that they are not authorized to access. Additionally, it will also protect you from hackers who have hacked an employee’s credentials.
3. Leverage automation to monitor, log and analyze user activities
Real-time monitoring and user activity analysis can help you identify any irregularities or abnormal moves that are not part of your regular usage patterns. For example, log in from an unknown IP or device.
Such irregularities could indicate a breach in your system, so it is essential to identify them early on to prevent hackers from hacking your system and help you resolve any security issues before they wreak havoc with your security system.
You can leverage data protection solutions to automate the process and support 24/7 monitoring and management.
Note: Every business has different needs for different levels of security services, so you may consider getting a third-party risk assessment before making significant investments. At Fingent, we identify and evaluate any loopholes in your current infrastructure and provide you with apt cloud infrastructure solutions using our unique approach.
4. Provide anti-phishing training to your employees
Small Business Trends reports that 1 in every 99 emails is a phishing attack, which amounts to 4.8 emails per employee in a five-day workweek.
Hackers can easily steal employees’ login credentials to gain access to secure information via phishing. In this kind of social engineering attack, the attacker sends fraudulent emails, texts, or websites to trick the victim into sharing access to sensitive information. Providing ongoing training to your employees to recognize a phishing attempt is the best way to prevent employees from falling prey to such scams.
5. Create a comprehensive off-boarding process for departing employees
Ensure that your departing employees no longer have access to your cloud storage, data, systems, customer data, and intellectual properties.
As every employee is likely to have access to different cloud applications and platforms, you need to set up a process that will ensure all the access rights for departing employees are revoked. If you can’t manage this internally, you may consider outsourcing this task to a credible vendor.
Learn more: Take a look at how InfinCE, an infinite cloud platform, ensures secured work-collaboration within an organization, and helps enhance company efficiency & growth!
6. Cloud-to-cloud backup solutions
There is no doubt that there are legitimate risks associated with any cloud application or platform. However, the odds of you losing data due to your cloud provider’s error is low compared to human error.
Say, an employee deletes your data accidentally, and a hacker obtains the account password and corrupts the information, or an employee clears her inbox and folders. In such cases, cloud providers can do nothing much past a specific period. Most cloud providers store deleted data only for a short time.
You can check with your cloud provider about the time frame and whether they charge any fees to restore the data. If your company must abide by strict regulations or be concerned about being liable for corrupted data, you can consider cloud-to-cloud back-up solutions.
There’s no denying that cloud computing is one of the most cost-effective options to maintain a high level of security for your sensitive data. At Fingent, our experts can help design a comprehensive cloud computing strategy that will help achieve your business objectives and provide you with ongoing management to keep your data protected. Contact us now and get started.
Cloud computing refers to the method of computing in which an interconnected network of remote servers is utilized for the execution of the operations such as storage, management, and processing of information. The business units in the current era are making use of multiple cloud computing services and techniques in an integrated architecture. There are various deployment and delivery models of the cloud which are amalgamated as one unit for the execution of business processes and activities. However, with the expansion of such practices, there are some security issues that have been observed.
The security issues and occurrences are primarily associated with network-based security risks, availability, confidentiality threats and integrity risks. Events such as Denial of Service (DoS) attacks, malware attacks, message/media alteration attacks, spoofing and phishing attacks, man-in-the-middle attacks, and eavesdropping attacks are common in the multi-cloud environment.
Organizations are required to follow certain steps towards security to make sure that the security risks and occurrences are prevented, detected and controlled. The following security measures and steps shall be included in for achieving a secure multi-cloud environment.
- Prioritization of Visibility: The business organizations in the multi-cloud environment must ensure that they have complete visibility across all the cloud instances. Behavior-based monitoring shall be adopted for enhancing the visibility. Objectionable modifications and malevolent activities will also be highlighted with this process.
- Adherence to the Best Practices: In the case of the multi-cloud environment, there are various systems, devices, and networks that are involved. Each of these entities has a set of guiding principles and standards. The cloud security team must analyze and understand the best practices that are associated with each entity. For instance, in case of NoSQL databases present in the multi-cloud environment, it would be best to meet the compliance requirements, install advanced access control and authentication measures and promote database security for the overall security of the cloud.
- Flexible and Secure Governance: Governance is a critical element in any of the organizations. It is possible to establish trust and security across the organization only with the aid of well-governed systems. In association with the multi-cloud environment, the processes such as identity management, scheduling activities and resource allocation must be securely governed.
- Encryption of the Data at Rest: It is often witnessed that the business organizations enforce and implement the encryption of the information that is in-transit. However, the encryption of the information at rest is often not paid due attention. Such loopholes in security provide the attackers with an opportunity to get hold of the information at rest and misuse the same. It is, therefore, extremely necessary to encrypt the information at rest using advanced encryption algorithms.
- Advanced Shared Responsibility Model: Sharing of resources is one of the prime features of cloud computing, which gets enhanced in the multi-cloud environment. There are overlapping responsibilities and ideas that are often observed which may lead to the occurrences of loopholes in the security. Every entity that is present in a multi-cloud environment must make sure that complete justice is done to the shared responsibility model of the cloud. The allocation of roles and responsibilities shall be done in such a manner that there are complete transparency and ease of execution that is involved.
- Network-based Security Controls: Most of the security issues that occur in the multi-cloud environment have networks as the prime agents of the threats. It adds to the requirement of implementing automated and advanced network security tools and controls to ensure that such risks are avoided and controlled. Some of these tools include network monitoring tools, intrusion detection systems, intrusion prevention systems, anti-malware tools, and anti-denial tools.
Cloud strategy and planning has provided the organizations with the ability to enhance the performance, speed, and quality of their respective business operations and activities. With the occurrence of the security risks and threats, there is a poor impact on the business continuity and customer engagement. It is, therefore, required to include the basic and advanced steps to security to deal with the security issues and problems. These steps shall combine administrative, physical, logical and technical controls.
The use of security solutions that are available in the market will allow the organizations to achieve and maintain security in the multi-cloud environment. These solutions will provide an integrated security mechanism and will eliminate the need to deploy security measures for each of the cloud model and elements. Security concepts and requirements, such as information security, network security, and database security are now provided in a single package by the leading software solution providers while entrusting them for your digital transformations.