First class SMSF: How Macquarie saves 40% by using SMSF Sorted Pro

 

When Christina Mainey from Macquarie Business Accounting began using SMSF Sorted by Cloudoffis in 2020, she quickly witnessed efficiency savings of more than 40%.

It’s big news that SMSF Sorted Lite—a core version of SMSF Sorted Pro which includes powerful OCR tools—is now included with Class at no charge. So thousands of SMSF accountants are ready to enjoy similar efficiency gains.

But with a simple upgrade to SMSF Sorted Pro, much more is possible.

Looking at How Christina and Macquarie use SMSF Sorted Pro shows why—and is just the start of the SMSF revolution on its way with a groundbreaking AI engine that offers next-generation accounting features.

Why Macquarie chose Sorted.

Before SMSF Sorted, Macquarie’s accountants were spending too much time on workpapers—especially with the outsourcing of other firms creating price pressure.

Christina knew there were options, but chose SMSF Sorted for the support and integration.

“We were already paperless, and we’d trialled a few options—but Cloudoffis SMSF Sorted was head and shoulders above the rest”, she says.

According to Christina, the time savings are priceless.

“OCR is my favourite because it saves me time as well as the reviewer. Up to 40%—and with the updates and releases we’re expecting that to reach 50% very soon”.

Christina also says SMSF Sorted delivered more than she’d bargained for.

“I knew it was integrated with Class and BGL—but I had no idea how well. It’s more than trial balances—it has 17 reports with all kinds of checks”.

Next generation accounting.

For Macquarie, SMSF Sorted Pro is opening the doors to the next generation of SMSF accounting—with the release of a new AI engine for industry-first automation that removes whole accounting steps.

“The automated wrap statement reconciliation is next level”, says Christina. “Some of our wrap reports are up to 200 pages—so importing them for automatic reconciliation is a game-changer”.

Christina says this kind of automation can often over-promise but not deliver—but not with Cloudoffis and SMSF Sorted Pro.

“With other software you expect things and it maybe doesn’t work. With Cloudoffis, you can believe it—and it just gets better with every release”, she says.

Automation and optimisation.

The Cloudoffis AI is built on strong foundations of automating and optimising day-to-day SMSF accounting.

Because SMSF accountants have their own methods, Sorted Pro includes 8 ‘Excel-like’ workpapers for easily customised reconciliation checks.

Automated push notifications and query alerts keeps workflow moving and save dead time between necessary changes.

But for Christina and Macquarie, the bedrock of automation is the over 21 that standardise compliance checks with automated red flags.

“With observations, it’s great to double-check my work with observations—whether work tests are met, payment summaries done, pensions allocated—it just really helps”, says Christina.

There’s a portal for that.

The unique Cloudoffis portal—which supports the accounting, review and auditing processes alike—is a huge plus of using SMSF Sorted for Christina.

“Our auditors are already using SMSF Auditomation—so we can take full advantage of what’s possible”, she says. “There are fewer queries about workpapers, and we’re using comments to never write anything twice”.

But the portal dashboard offers more than just seamless audit integration—it’s a “great snapshot of how many jobs, how many ready for review”, says Christina.

“We’re cracking down on budget with very high accuracy”, she says. “It just gets better with every release”.

Your smartest upgrade.

Using SMSF Sorted Pro to revolutionise Macquarie’s SMSF accounting, Christina’s not looking back.

“It’s amazing—“I can jump in at night and do a few things, then jump into Class—it’s so easy”.

And on whether the upgrade to SMSF Sorted Pro is worthwhile?

“Anything less than SMSF Sorted Pro wouldn’t be enough”, Christina says.

Book your live demo today or call 1300-979-457.

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Auditomation and beyond: How a family audit business got its time back

SMSF is about choosing today what gets you ready for tomorrow.

For Daniel Surjenko of award-winning SMSF auditors Superannuation Audit Services, moving to the cloud was about creating a better future—for the firm.

“In moving to the cloud, we knew we’d reap the benefits of modernisation—including speeding up our process, sharpening accuracy and creating uniformity”, says Daniel.

“What we didn’t realise is that moving to the cloud would create a better future—for our family.”

In reducing errors, creating flexibility and reducing stress, Cloudoffis gave Daniel and the team more time for living.

“We have more time to be a family,” says Daniel.

Writing on the wall.

Superannuation Audit Services was founded in 1996 by Denise Surjenko—Daniel’s wife—to provide independent SMSF auditing services to public practitioners. Since then, the business has built a reputation based on continued excellence and a personalised, on-shore service.

They’ve also seen the industry change drastically.

“Audit legislation is an ever-changing game,” says Daniel, “Staying ahead of changes is critical—it’s what clients have always relied on us to do.”

It’s one of the reasons Superannuation Audit Services performs over 1200 audits annually and has retained foundation clients for over a quarter of a century.

“When it came to going paperless, the writing was already on the wall,” says Daniel, “Well before COVID, we’d noticed the digitisation of our industry—we knew we needed to act or face getting left behind.”

For Daniel and the team, improving efficiencies was critical—staying paper-based was restricting their growth.

“In addition, our clients were going cloud-based,” says Daniel, “We didn’t want to be the bottleneck—we had to integrate or wave goodbye.”

Choosing the right software.

Moving to the cloud was not something Daniel took lightly.

“We had reservations about automation in general,” says Daniel, “Our process and filing system was watertight and built to last—we needed absolute confidence that our software could match that.”

Initially, Daniel considered building their own software.

“While on the face of it, it seemed like the better route would be to build software in-house, giving us complete ownership over it,” says Daniel, “But we quickly realised the costs and risks involved.”

According to analytics firm Gallup, custom IT projects overrun by 27% on average and ‘one in six projects had a cost overrun of 200% on average and a schedule overrun of almost 70%.’ ”

“We understood how damaging inaccurate cost estimations and project overruns can be”, says Daniel, “The ease, security and transparency we’d get from choosing to buy vs. build made the decision a no-brainer for us.”

Choosing the right partner.

Having decided to buy, it was time to find the right partner. Daniel interviewed multiple SMSF software providers, even flying to Sydney to personally meet with them.

“Choosing to work with Cloudoffis was a very considered decision,” says Daniel, “They had the best value to service combination, a second-to-none user interface and user experience, and enterprise-grade security.”

“We also had access to their key staff and we trusted them. The exceptional training they provided for our staff meant no one was left behind.”

The future doesn’t wait—Cloudoffis’ plug-and-play solution took Superannuation Audit Services from on-boarded to auditing in a matter of weeks. Like Superannuation Audit Services, the Cloudoffis team is based in Australia. It means businesses and their clients can access personal support from an expert local team—on-demand.

“We went paperless—without the learning curve,” says Daniel, “Everyone’s loved it.”

Prepped ahead of a pandemic.

With young kids at home, Daniel and Denise often worked remotely—and encouraged their staff to do the same.

“Before Cloudoffis, we were still running around with stacks of paperwork,” says Daniel, “Once we moved to the cloud, we could do everything securely online—from document organisation to receiving files, reviewing work, sharing jobs and populating reports. We were well ahead of the technology curve.”

When COVID hit—and competitors scrambled to stay afloat amid world-wide lockdowns—Superannuation Audit Services didn’t miss a beat.

“We had clients messaging ‘are you still around,’ ” says Daniel, “and we were like ‘nothing’s changed here!’ ”.

In fact, Daniel and the team were helping their clients get on the cloud too. “Cloudoffis offers training for clients in how to use their portals,” says Daniel, “Going that extra mile has kept us highly competitive.”

More time for living.

Going paperless has shown Superannuation Audit Services the way of the future.

“We can standardise every job—no matter the source. We have uniformity across all staff members—making reviewing easier. We’re freed up to do marketing because we’re not drowning. And we’re quicker—with a faster audit process there’s just more time for everything,” says Daniel.

That includes being a family.

“We’re less stressed and have a better lifestyle. Despite lockdown, we’re able to stay fit—we go to the park at lunchtime with the kids and have time to help them with school and assignments,” says Daniel.

“With SMSF Auditomation we got our time back, achieved growth and are closer than ever as a family.”

There’s also excitement about what’s possible with new Cloudoffis AI features in SMSF Sorted for Accountants—which will make the workflow for Auditors even more efficient..

“We’ve seen Cloudoffis evolve—they’re consistently reducing pain points and we couldn’t be happier,” says Daniel, “Compliance review still has a manual, human side—so we’re excited about the possibilities from new releases on the administration and transfer to audit side, like AI-driven data matching, which could transform our efficiency.”

Consistent, compliant and automated, SMSF Auditomation leverages tech to free you from the grunt work—leaving more time for what counts.

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Book your live demo today or call 1300-979-457.

How pandemic breakout affected the business & brought a breakthrough

It’s a trying time for businesses.

The global economy is reeling from the effects of Coronavirus, impacting the livelihood of people worldwide.

In Australia, auditing and accounting businesses walk a tightrope—on one side, remote work has become a safety challenge-on the other, there’s no margin for error in SMSF accuracy and compliance.

With the help of Cloudoffis, SMSF business leaders-like hmh Advisory’s Sarah Molinaro-have been able to innovate amidst adversity.

Cloudoffis was built for SMSF to be ready for tomorrow-so hmh Advisory used it to stay in front of the remote work revolution.

For over a decade Sarah ran the SMSF department at hmh Advisory-in their physical offices of course. “When lockdown hit, we had to adapt fast,” she says.

“From one day to the next, our entire SMSF team was confined to home. Our paper-based accounting audit system was great—but it wasn’t going to cut it during the pandemic.”

Poised for paperless.

As a specialist, Sarah came to hmh Advisory to run the SMSF department. She’d re-designed and re-built their paper-based systems for very high standardisation. Sarah supervises a team of 3 to 4 staff and personally reviews every fund before it goes to audit.

She’d been looking at going paperless—but was wary of risking quality, and wary of the initial admin investment.

“We have over 240 funds, from $100k to $15M—with about half of our clients using our financial planning services. There’s high complexity around member balances, pensions, investments such property and options trading”.

“We’d seen Cloudoffis at the SMSF Association conference in the Gold Coast”, says Sarah.
“We knew from using their SMSF Auditomation product that they offer great support—but we feared the admin burden, and had some older staff who were unsure about the technology side”.

Pandemic plug and play.

Then lockdown hit—and software was a non-negotiable.

Remote work was suddenly required. After APES-110 industry changes, hmh found auditors using Cloudoffis SMSF Auditomation, and made the jump to using Cloudoffis SMSF Sorted for the accounting side.

Fears of too much admin were soon blown away.

“We were up and running in a matter of weeks,” says Sarah, “The tools worked seamlessly with Class and our existing software, and the onboarding process was smooth—even for hesitant members of our team.”

It helps that the Cloudoffis team is based in Australia—giving businesses access to all the local support and guidance they need to succeed. We also run on Amazon Australia servers covered by Australian security law and protocol.

“No other provider came close to giving us the reassurance we got from Cloudoffis,”
says Sarah, “Having support—and our data—here in Australia was priceless.”

Remote and flexible with the cloud.

For Sarah and her team, opting for cloud SMSF software meant they could continue to service their clients even while working from home-at the same standard and quality they’d built their reputation on.

“We have team members  working in different locations. With a secure digital ecosystem, we can confidently deliver anywhere and anytime.” says Sarah, “Working remotely has been a big success.”

Digital transformation might be a necessity during the remote revolution. But the future of SMSF isn’t just about today. At Cloudoffis, it’s about getting ready for tomorrow. Our SMSF tools leverage technology to transform underlying processes and supercharge SMSF businesses.

“Cloudoffis technology reduces time spent on routine, repetitive tasks, resulting in a much more efficient end of year process,” Sarah says, “It improves profitability, efficiency and allows the team to better leverage their value elsewhere.”

Ready for tomorrow.

The pandemic has changed the way we all do business.

For Sarah and the hmh Advisory team, it’s shown them the way of the future.

“We can work from anywhere. We’re saving hours per fund. There’s no double handling.
And we have an excellent workpaper system that’s easy to use,” says Sarah.

There’s also a buzz about what’s possible with the new Cloudoffis AI features.

“We use BT Panorama for financial planning clients —we’re keen to try the new features like AI driven, automated platform statement reconciliations—they could be a gamechanger for our efficiency”, says Sarah.

Cloudoffis features have helped hmh go paperless, optimise processes and enjoy an
end-to-end workflow. It’s transformed their ecosystem into a streamlined, automated,
well-oiled machine—all in the midst of a pandemic.

Sarah’s advice to SMSF accountants and administrators poised to go paperless with Cloudoffis?

“Just do it,” says Sarah. “More and more  of our clients are sending documents electronically,
-it’s the new normal and Cloudoffis helps you get ready for it”.

The future knocks on every door—at Cloudoffis we’re here to help you answer.

Book your live demo today. In 15-mins, our support team will show you how to get your SMSF business ready for tomorrow..

API integration of Cloudoffis + BGL workpapers is an iconic feature

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Also published by SMSF Adviser, powered by Momentum Media
Written by Miranda Brownlee on 20 July 2020

Cloudoffis, one of Australia’s leading providers of cloud-based SMSF Preparation and Audit Automation technology today announced the successful integration of their “SMSF Auditomation” platform with BGL Workpapers–an extension of the pre-existing integration with BGL Simple Fund 360.

Enhanced features brought together with API integration

A major key feature of this industry-first API integration between Cloudoffis + BGL Workpapers is the time-saving potential this automation provides beyond any other solution available on the market. The bookmarking and tagging of source documents in workpapers flow through into the audit file and align with each lead schedule item. The automated observations improve accuracy and provide peace of mind by being automatically checked and flagged for any errors. The auditor can address red flags as they’re found – not go searching for them. An inbuilt risk matrix is created as data is pulled through from BGL and analysed. The pre-audit risk value alerts provide an opportunity for appropriate management.

As a result, Cloudoffis “SMSF Auditomation” users (Auditors) will get broader access to Simple Fund 360 generated financial reports and documents tagged to the trial balance. Combined with Auditomation’s document recognition, direct data sourcing and automation capabilities, this integration will help SMSF auditors streamline their audit processes, sharpen accuracy and reduce upward of 50% of their time per audit.

BGL and Cloudoffis; a 1–2 punch

BGL Corp acknowledged the longstanding relationship between both the businesses and Cloudoffis’ vision in further streamlining the SMSF process from engagement to completion.

“At BGL, we are a strong advocate of developing ecosystem partnerships to help businesses streamlining processes. Partnering with Cloudoffis is an example of two leading technology providers collaborating for the benefit of both our clients. BGL currently has over 350 partners as part of our Ecosystem” said Ron Lesh, BGL’s Managing Director.

“Integration with BGL’s Simple Fund 360 (OR Workpapers) reflects Cloudoffis’ continued commitment in helping SMSF providers automate and streamline their processes. At Cloudoffis we continue to refine our SMSF Preparation and Audit Automation solutions to help the industry and our users find efficiencies across processes and maximise return on investment,” said Viral Kanabar, Co-Founder & Director at Cloudoffis.

Workpapers was created by BGL to prepare and review workpapers from data in SimpleFund 360 and complete any necessary checklists. Cloudoffis’ other compliance preparation solution “SMSF Sorted” (for Accountants) can complement Workpapers by providing workflow notifications and tracking, dashboards, a comprehensive query and review module; couple this with integration to Cloudoffis’ “SMSF Auditomation” solution (for Auditors) for a highly efficient, compliant, end-to-end SMSF workflow solution.

Cloudoffis and BGL can be used as stand-alone products but operate with an integrated 1–2 punch, keeping SMSF together, as manual processes become siloed, to remain streamlined from SMSF accounting through to auditing.

Watch the industry-first Audit automation API integration with Cloudoffis SMSF Auditomation & BGL Workpapers

About Cloudoffis

Cloudoffis offers a brand new way of preparing an SMSF & conducting an audit. It is developed with a unique technology that individually saves Accountants & Auditors upward of 50% time per fund. Accurate, fast and compliant, Cloudoffis fits seamlessly and combines with leading SMSF administration providers–completing the SMSF workflow process and enhancing all-user experience.

Cloudoffis not only automates the manual processes outside of existing admin software but also provides highly intuitive and intelligent tools to enhance an Accountants or Auditors ability to conduct critical analysis, make judgments and streamline their process to professional standards.

Headquartered in Sydney, NSW, Cloudoffis is in its fourth year of operation and continues to carve out its own lane for the SMSF industry.

Chris Satchi – Head of Sales

Email: sales@cloudoffis.com.au
Phone: 0403 513 354
Website: https://www.cloudoffis.com.au/schedule-a-live-demo/

About BGL

With over 30 years of trust in the accounting software space, BGL delivers Australia’s leading and award-winning cloud-based corporate compliance management and SMSF administration software solutions to over 8,000 businesses in 15 countries. All through a user-friendly and highly intelligent web application.

BGL’s market leading Simple Fund 360 and Simple Fund Desktop solutions are used to administer over 60% of Australia’s 600,000 self-managed super funds. Our clients include all major accounting firms, law firms, many listed and private company groups, accountants, financial planners and many individual SMSF trustees.

Contact – Ron Lesh

Email: marketing@bglcorp.com.au
Phone: 1300 654 401
Website:  https://www.bglcorp.com

OCR technology in SMSF Audits. What is it and why it’s a breakthrough?

OCR technology is the next big thing in SMSF audits. To understand why, you need to know what it is and how it can help you.
Every so often, a new technology comes along that has the potential to disrupt an industry.
Take the printing press as an example. Prior to its invention, printing was a costly process, both monetarily and in terms of labour. Type parts broke down quickly and every book needed many work hours to come to fruition.
The creation of the printing press changed all of that. Joseph Guttenberg leveraged his knowledge of metallurgy to create more durable types. His press allowed for mass printing of books. This quenched the thirst for literature from an increasingly literate population. The invention of the printing press also created a shift away from the handwritten texts of old.
You may wonder how all of this applies to your auditing work.
Today, there’s a similar shift in auditing as there was in literature so many centuries ago. The industry is moving away from the manual processes that have served it so well for decades. The introduction of technologies like Artificial Intelligence (AI) signals a shift towards greater automation.
However, it’s Optical Character Recognition (OCR) technology that may have the most disruptive effect. This technology increases efficiency tenfold, allowing you to carry out more audits in less time.
To understand why, let’s look at what OCR is and what benefits it has to offer auditors.

What is OCR?

OCR allows you to convert your documents into recognisable data. This includes everything from physical documents to image files.
The key is that OCR creates searchable and editable data.
For example, imagine that you have a physical contract from a client. You can scan that contract onto your computer. However, this creates an image file that you can’t edit or search. The scanner just creates a raster image comprised of thousands of black and white dots. You can’t open that document in a word processor and make changes.
OCR technology can single out all of the information held in that scanned image. It identifies the letters in the image and combines them into words. These words then become sentences and you end up with a document that you can search and edit. The same goes for any scanned documents, images, or physical documents.
The key to all of this is the technology behind OCR.
People recognise objects based on the three basic IPA principles. These are integrity, purposefulness, and adaptability.
OCR technology makes use of these three principles to replicate human recognition. For example, you can read the words on the scanned contract mentioned above. You just can’t edit them. OCR technology can also read those words. Plus, it can turn them into documents that you can actually use.
The software behind your OCR technology analyses the document’s structure. It then divides the document into different blocks. This leads to having several blocks each for the images, documents, and tables that the document contains.
It then divides these blocks down to individual words and then individual characters.
The software then compares these characters to those already logged in its databanks. After comparing against all of the data that the software has, the technology produces a document. The more advanced the database, the more accurate the resulting document. The most advanced versions of OCR technology can even recognise handwritten text.
This mirrors the object recognition process that the human brain undertakes. You see something and your brain compares it against the multitude of images and patterns that it has stored. This allows you to recognise what the object is. If it’s an object – or language – that you haven’t encountered before, you can’t recognise it.
OCR works in much the same way.

The Benefits of OCR to Auditors

The introduction of OCR technology will change the way that you conduct SMSF audits.
That’s because OCR offers an array of benefits to auditors.

Benefit #1 – Increased Efficiency

The process of preparing an audit file requires a lot of manual labour. You may have to sift through hundreds of documents when conducting an SMSF audit.
Think about all of the documents that you have to process as part of an SMSF audit. These used to include all of the relevant financial documents and transaction statements for the year.
The documents may also involve details about the fund’s trustees and minutes from every meeting they held. You have to process broker statements, bank statements, asset details, contract notes, rental statements, tax statements and a host of other documents.
That’s hours upon hours of reading, sorting and identification before you even get to the analysis portion of the auditing process. OCR can handle all of this for you.
The use of OCR technology allows you to quickly work your way through all of your documents. You can scan them into the software in bulk and allow it to identify all of the key data on your behalf. The technology can even be used to automate the addition of this data into your reports.
The end result is a lot of time saved on previously manual processes. For example, Cloudoffis’ OCR technology allows you to scan up to 300 pages in a matter of seconds.
OCR allows for automation of the data identification process. This frees up time that you can spend elsewhere.

Benefit #2 – Reduction in Human Errors

No matter how experienced you are, you’re not perfect. It’s possible for you to make mistakes when auditing, especially as your workload increases. With hundreds of figures to work your way through, it’s all too easy to misread something.
OCR technology takes the human error component out of the equation. With quality OCR technology, you won’t have to worry about human errors in this area of the audit process. The technology will identify objects consistently. Plus, it can even conduct analysis based on the objects it recognises.
This reduces the amount of time that you have to spend on checking your figures. Of course, it also means far fewer mistakes get made during the auditing process.

Benefit #3 – It Can Learn When Combined With AI

Modern auditing platforms can combine OCR with AI to create a constantly-learning technology.
The benefit here is that the technology doesn’t come to a standstill when it comes across objects that it doesn’t recognise. You can build on the existing databanks to ensure the technology recognises even more objects.
In this sense, OCR technology can learn in much the same way as the human brain. When you see an object you don’t recognise, you can look to other sources to identify it. For example, you could look for translation when reading a phrase in another language. OCR technology can do the same when combined with AI. This ensures the technology doesn’t become redundant.

Conclusion

OCR technology has the potential to revolutionise the auditing process. When used correctly, it can save thousands of hours that auditors spend on reading and analysing documents. It also cuts down on the human errors that lead to inaccurate reporting.
Finally, when combined with AI, OCR technology can learn constantly. Storing more objects in the technology’s databanks make it even more versatile. This proves particularly useful when working with documents that contain multiple languages.
All of this means that OCR can save auditors both time and money.
Of course, you also need to find the right platform for the job. Cloudoffis is the first auditing automation platform that makes use of OCR technology. Request a live demonstration below to see it in action.

This article was also featured on SMSF Adviser.

Concerned that cloud-based software is less secure? It’s not the fact

Besides doing an accurate audit, security is probably your biggest worry. When you heard the rumours about the lack of security in cloud-based software to conduct your clients’ SMSF audits, you might have run for the hills. After all, a secure working and storage environment is key to ensure your clients’ trust. Although you’re tempted by how easy it is to work with and store data in the cloud, still-doubts linger. Are my clients’ data secure? Can I trust cloud-based systems to keep their data secure for the years to come?
You need the facts–not half-truths whispered around the water cooler. Cloud-based software is not only as secure as a conventional IT system-it’s more secure. Here’s what you need to know:

Tight Control Doesn’t Mean
High Security

Noted computer science professor David Linthicum wasn’t always a believer in cloud computing’s security. Although well aware of its power and scope for applications, he now is ‘finding that clouds are more secure than traditional systems, generally speaking’. The reason? Contrary to the myth, the truth is that where data is located isn’t as important as accessibility. In other words, in Linthicum’s words, ‘control does not mean security’. In fact, says Linthicum, traditional, on-premises IT systems average more Web application-based attacks than do service providers’ cloud-based systems, by a ratio of 61 to 28.

On-Premises Systems Bigger Targets
for Security Threats

That’s a huge difference. Furthermore, Linthicum points out, the on-premises users had more “brute force attacks” than did the cloud-based users. Food for thought-especially since in our business-our data represents the net wealth of our clients. Like sharks when they smell blood, attackers bite when they smell money. Especially if they know they’ll have more than twice the chance of success when they know the accounting firm still uses an on-premises IT system.
Again, Linthicum stresses, a firm’s preference for an on-premises system rests on a feeling; the false premise that control equals security. In fact, he points out, those companies who design cloud-based platforms “focus more on security and governance” than their old-school brethren.

The Key: A Cloud Solution that
Takes Security Seriously

Instead, what a financial firm should concentrate on is to find a system with cutting-edge security technology and a proper strategy. Reducing the opportunities for an attack to breach the system should be the priority. A software firm that tests, tests, and tests again for vulnerability is the one companies who deal with the life’s savings of its clients should choose.
In the 23 April 2017 edition of Forbes, Louis Columbus writes about Australians’ reluctance to hop on board with cloud solutions for fear of security breaches. Although Australia is the global leader in cloud adoption for public use, the Gulf Coast Council leads in private cloud use. Yet as cloud services increase their security for public, private, and hybrid platforms, more and more companies are coming around to take advantage of cloud services for even their most sensitive data.

Security Is Now the Competitive Edge
for Cloud Providers

The question is, does your company really want to drag its heels on adopting cloud technology when it could take the lead? According to UK tech writer Ben Rossi, it is precisely the lack of confidence many enterprise companies have in the cloud that should spur them to take a second look. Because of this general reluctance of organisations to adopt cloud platforms, cloud services, says Rossi, have begun to ramp up their security to the point that they compete ‘on the security of their service’. Add that factor to the reality-not the myth-that most of the recent data breaches that have happened over the last few years occurred within on-premises IT systems.
Cloud systems, too, have no personal connections-or axes to grind-with the companies they serve. As Rossi points out, ’employees with …malevolent intentions will find it more difficult’ to do damage with cloud-stored data. In most cases, Rossi says, cloud-based services must adhere to tougher standards than do on-premises systems, since cloud services handle the data for much more than just one organisation.

Choose Efficiency and Security
with a World-Class Cloud Provider

The key, then, to take advantage of the lower cost and higher efficiency of the cloud while lessening your risk, is to choose your cloud provider wisely, conclude the authors of Internet security giant McAfee’s ground-breaking report, ‘Building Trust in a Cloudy Sky‘. Those Cloud First organisations who use unified or integrated security solutions have found it easier to adopt cloud services, since the heightened level of security from these security providers ‘reduce their response time to detect, protect, and correct threats to the organisation’s data’.
Cloudoffis takes its clients’ security seriously. Not only does it host its servers on the highly secure Amazon Australia, but it also adheres to the highest industry standards of security implementation. To discover more about how you can boost your productivity while maintaining the highest level of security for your audit files, contact Cloudoffs today.