Today over 90% of the world’s information is stored electronically, and file sizes are getting bigger. Storage space has now become a premium and companies are replying on cloud-based services to store their data. This enables them to free up space and the flexibility to work/share resources remotely.

With more companies adopting this approach to store data, Cloud-based security has never been greater to ensure your information is safe.

It only makes sense. Your data is an asset, and protecting that asset is a priority. As the Cloud becomes more prevalent, understanding Cloud security is a fundamental part of your company’s risk management plan.

Vulnerability of Your Data Assets

A large data breach can send your brand reputation, regulatory standing, productivity and overall business performance into a downward spiral.

The long-term implications are serious.

A June 2014 survey of IT security professionals estimated that a data breach involving the loss or theft of 100,000 customer records would cost more than 10 million pounds. Even worse, some companies experiencing a data breach have been forced to close their businesses!

Indeed, the stakes are high. The good news is it’s all part of risk management, and with the right Cloud security practices, you can keep these vulnerabilities in check.

Cloud Security for Modern Business

Here are three best practices to ensure that your data remains secure in a Cloud environment.

Principle 1 – Stay in Control

The first point is to always remember that it’s your data.

Too often, people’s understanding of Cloud computing assumes that the risk is shared between the Cloud vendor and customer. In truth, the ultimate responsibility lies with the owner of the information.

While it’s certainly important to select a Cloud service provider that offers optimal safeguarding and privacy options, it’s a two-way street, and both sides need protection.

Remember – at the end of the day, it’s your information. Your company should develop a liability and protection plan, and make sure you work with a Cloud provider whose security practices align with your own.

Principle 2 – In Encryption We Trust

Data held in both company servers and in the Cloud must be secure. That is fundamental.

But what about data moving between your company and your Cloud service provider? Perhaps your IT team moves the data into the Cloud in batches at the end of each day, or maybe the data moves in real-time from employees’ work stations and mobile devices to and from the Cloud. Whatever the case — encrypt those communications.

Encryption prevents hackers from encountering “clear text” transmissions, and instead presents blocks of binary that cannot be unlocked without a decryption key.

Principle 3 – Plan for Recovery

The risk of data breach necessitates a recovery plan. When shopping for a Cloud provider, always ask potential providers about their disaster response plan and ability to recover data. You need to know that even your worst-case scenario is a situation you’re prepared to handle.

Cyber Liability Insurance

Extra safety tip: Companies insure their assets. It’s a natural part of responsible management. But do you have a “cyber liability” plan for your information assets? If it’s not on the radar, it should be.

The Bottom Line on Cloud Security

There is no one-size-fits all solution to protecting your data on the cloud against security threats, and of course, none are foolproof.

That’s why it’s especially important to have a strategy in place before transitioning information onto the cloud, so you’re prepared for every possible situation, armed and ready.

After all, every cloud has a silver lining, right?

For more information on Cloud Security, click here to contact us and find out more.