Surveying and Analyzing Security Trust

Question: Discuss about the Surveying and Analyzing Security Trust. Answer: Introduction With the development of cloud-based accounting software creating massive media fanfare in the past few years, traditional accounting has been forced to develop their programs and encounter for its place in this business world. In addition, many industries are now aligning their systems and processes into the cloud at a rapid rate as its ability to offer a platform for innovation, and potential to enhance the effectiveness of business processes (Semple, 2010). Moreover, despite the success of cloud accounting, various business owners are still confused which software is more beneficial for their business. On the other hand, the traditional system of accounting is majorly concerned with the conservative approach that is the company utilizes a hard drive and then accounting software is installed. It is used to store the financial data. This system is popular owing to the familiarity and ease of operation. However, the risk factor is more in this scenario because information can be encrypted easily (Lee, 2012). Differences betwixt cloud-based and traditional accounting Cloud-based Accounting Traditional-based Accounting Since all updates are free in this system, business expenses are efficiently minimized. Furthermore, server failures, admin expenses, and maintenance are no longer concerns to be dealt with as the cloud service providers manage these themselves (Winkler, 2011). For businesses that use traditional-based accounting, forking out resources for backups and updates add up all very rapidly. Not only are these very costly, but software updates and backups can be time-consuming and complicated. Irrespective of what disaster can happen in the future, computers failing, files not appropriately backed up or being lost, the cloud software assures that the valuable information of the user is safe (Semple, 2010). Information that is stored on computers, USB devices, and hard drives can be easily lost as data is subject to hacking, viruses, and maintenance issues that can leave the business in a vulnerable position. In this accounting system, relevant business details can be accessed from anywhere and by anyone. As a business owner, one can operate his or her company from anywhere through an electronic device that supports internet connection (Ryan, 2015). In this system of accounting, only one user can gain access to the financial information stored in the software that makes it problematic to access such information conveniently. Potential risks Cloud-based accounting is primarily internet-based that means a user is completely reliant on the internet connection, and like any hardware, it can fail for any of a hundred reasons. Hence, no cloud provider will claim immunity to service outages. The second risk in cloud computing is that every component is significantly accessible from the internet, and of course, anything connected to the internet is not perfectly secure, and even the best teams have to sometimes encounter security breaches and massive attacks (Henderson Allen, 2010). Furthermore, in most cases, cloud users pursue restricted control over the execution and function of their hosting infrastructure. In other words, the cloud providers may impose certain limits on what the users can do with their own deployments. Hence, the system has the limitation of lock in that freezes the vendor and it becomes difficult for them to switch to another system (Dimitrios, 2012). These customers or users are also restricted to the m anagement and control of their services, data, and applications. The service provider is in total control of the infrastructure and hence, leaves a very little room for the customers (Dawei, 2011). Key tasks cannot be done by the customer and hence, at times the customers find themselves at risk. Hence, these are the potential limitations involved while adopting a cloud-based accounting system. Recommendation Cloud-based accounting offers several opportunities for businesses to store their information and host software. Some advantages include powerful security, minimized costs, and readily available financial information. Therefore, the size of the business does not matter when it comes to efficiencies offered by this software. Each business has its own particular requirements and this software can be designed around those. For instance, businesses associated with government contracting, law firms, and finance industry can attain benefit from security measures that can keep the documents secure. Since these businesses incorporate high profile data, cloud accounting can assist in keeping the documents away from prying eyes. Furthermore, businesses involved with non-profit organizations having limited resources can utilize such system to pay only for the data used by them, thereby becoming a cost-effective option (Ryan, 2015). A business that has employees in far-flung areas can use this a ccounting system as the same can be accessed with the help of the internet. Manufacturing companies also often tend to juggle several clients by utilizing distinct technology platforms, but cloud accounting can organize all such platforms into a single solution. References Dawei, S. (2011). Surveying and Analyzing Security, Privacy and Trust Issues. Advanced in Control Engineering and Information Science , 2852 2856. Dimitrios Z. (2012). Addressing cloud computing security issues. Future Generation Computer Systems , 28 (3), 583-592 Henderson, T Allen, B. (2010). Private clouds: Not for the faint of heart. Accessed March 18, 2017 from https://www.networkworld.com/article/2196247/cloud-computing/private-clouds--not-for-the-faint-of-heart.html Lee, A. (2012). Cloud Computing: How It Affects Enterprise and Performance Monitoring. Sys-Con Media Ryan, M.D. (2015). Cloud Computing Privacy Concerns on Our Doorstep. Accessed March 18, 2017 from https://cacm.acm.org/magazines/2011/1/103200-cloud-computing-privacy-concerns-on-our-doorstep/fulltext Semple, B. (2010). Five capacity management challenges for private clouds. Accessed March 18, 2017 from https://cloudpost.us/2011/07/five-capacity-management-challenges-for.html Winkler, V. (2011). Introduction to Cloud Computing and Security. Cloud Computer Security Techniques and Tactics