Leveraging the Power of Cloud-Based Technology to Increase Security and Simplify Data
If you’re the least bit attune to recent tech trends in the market, then you’ve probably heard about cloud computing more times than you can count. What began as an abstract idea preached by big tech forerunners like Apple, Google, and Microsoft finally trickled down to the mainstream a few years ago. Now, everyone from smartphone service providers to digital marketers are talking about “the cloud” and its many features, the most notable being its unparalleled storage capabilities.
What is cloud storage? Simply put, cloud storage involves storing data on a remote, digitally-connected server, which can be accessed using Internet-connected devices. There, the data is managed and secured by the cloud service provider, who protects sensitive information behind multiple layers of encrypted security. If you use mobile banking apps, for example, then you’ve experienced cloud technology’s ability to host content on a cloud server and safeguard financial data using seamless security integrations.
Cloud-based systems are not limited to personal dealings, either. When it comes to adopting this technology in the multifamily housing industry, the benefits of cloud computing are numerous. Cloud services not only help property management teams boost productivity, but they also deliver incomparable data security and document storage solutions. Here are some key benefits of introducing cloud-based technology into your day-to-day operations.
Cloud Computing Boosts Data Security
These days, we rely heavily on technology to accommodate us in nearly everything. From personal matters to business transactions, we upload—knowingly or otherwise— an astonishing amount of data to individual and shared devices daily. Often accompanying our technology use is the assumption that everything we store is safeguarded. But, no matter how impenetrable our devices may seem, the unfortunate truth is that physical servers are very susceptible to computer hackers. Oftentimes, all it takes is one cleverly disguised email to unfold a chain of events that usually ends with a hacker acquiring a users’ login credentials to access sensitive data about your business.
While no data management system can guarantee complete and absolute safety from hackers, cloud-based technology offers an incredible amount of data security, especially when compared to traditional server systems. This is because the cloud safeguards data behind dozens of security layers, such as authentication gateways, firewalls, and user-focused checkpoints with security questions or PIN codes. Plus, your data management provider routinely audits and refines their processes, so you can be assured that the “secret sauce” behind your security regulations are up-to-speed with the latest in data protection.
In the event of the unthinkable does occurring, a cloud-based data management system will at least ensure that your property’s recovery time is as minimal as possible. Because the cloud is constantly backed up to several different secure locations, your data is accessible from any Internet-connected device. So, if a destructive virus hits, or a natural disaster compromises your office space, you will still be able to retrieve necessary files from another physical location. Aside from affording your team the productivity they need to succeed—even in the worst of conditions— this cloud-based tech perk ensures that you’re never stuck without valuable resources when managing prospect and resident data.
Cloud Computing Reduces Data Management Costs
Consider for a moment the data security measures of years past. Before computers became affordable enough for mainstream use, crucial information regarding property operations were stored in filing cabinets. Then, with the rise of computer technology came massive physical servers, which were fantastic for handling large amounts of data, but also carried with them a hefty price tag – not to mention the labor costs associated with hiring an IT team to install, maintain, and troubleshoot them.
Luckily enough, we’ve moved past this in the Digital Age with cloud computing reducing the burden associated with handling overwhelming amounts of data. For property management teams, cloud-based systems prevent the arduous task of creating an on-site data management system – and the astronomical costs associated with installing a physical server. Additionally, cloud-based technology allows users to customize the amount of storage utilized, so your team isn’t overpaying for idle capacity. Considering that some estimates price clunky physical servers within the six-figure range, it’s clear to see why cloud storage can significantly lessen expenses.
Cloud-based systems also do not require time-consuming data backup. Instead of having to devote hours to regularly backing up crucial data files, cloud computing handles it automatically, often running secure backup processes multiple times per day on its own set schedule. This saves on-site teams from dedicating hours of their days to data backup, boosting efficiency, which is key to running a profitable business. Through eliminating tedious data backup task, your team will have more time to spend on nurturing leads, scheduling tours, and boosting resident retention by providing stellar customer service.
Cloud Computing Allows Your Business to Scale Up or Down as Needed
In addition to providing enhanced security and reducing operational costs, cloud computing is a must-have for businesses due to its scalability. Unlike physical storage systems, which offer fixed allowances for data storage, cloud technology is completely customizable to your needs. Because the service isn’t bound by physical limitations, cloud-based data management allows teams to add or subtract storage space depending on any business fluctuation they might experience.
This feature is especially important for new developments that start at ground zero and generate more data throughout the lease-up process. Managers operating on a small scale might begin with a minimal amount of storage space, and then increase its capabilities over time as the business’ needs evolve. When viewed from a cost analysis standpoint, this makes much more sense than the alternative: paying for a massive storage solution, which may never be utilized to its fullest potential.
Cloud computing’s scalability is not the only attractive feature to multifamily operators and remote teams that are working toward hitting their leasing goals. Ease of use – another hallmark of cloud computing – is essentially a non-negotiable desire in today’s digitally-driven market. With a robust, cloud-based data management system at your disposal, your on-site team will reap the many rewards that come with an impeccably organized and secure CRM system, which will be simple to navigate despite your technological expertise.
Cloud computing is the clear answer for properties seeking modern data management solutions. In today’s market, you must embrace a cloud-based platform that cuts costs, enhances security, and appeals to tech-savvy residents—all of which afford your property the potential for substantial growth. So, heed our warning when we say that you shouldn’t make the mistake of sticking to your obsolete data security system. Instead, arm your team with unlimited capabilities by integrating cloud-based technology into your day-to-day operations.