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Understanding cloud storage

Cloud-based storage is becoming increasingly advanced with age. The service’s easy access, tight security, and flexibility are attracting both big and small business owners.

Cloud storage refers to an online space that is used for the storage of data. It allows its users to backup data to a network of servers that are hosted by a cloud service provider. This data is then available through any Internet-connected device.

The main advantage of cloud storage is the flexibility of anywhere access. The data stored in the cloud can be accessed through any Internet-connected device, such as an iPhone or laptop at any location.

Cloud storage is cost-effective when compared to traditional security measures for protecting data. Traditionally, businesses had to pay for equipment, software, and personnel to ensure the security of their private data. The cost of data security in cloud storage is generally covered through a subscription cost.

Another advantage of cloud storage is the ability for businesses to easily scale up or down and only pay for what they actually use. Business owners have been wary of storing private information in the cloud due to the threat of data hacking and privacy concerns. However, cloud security is far stronger than any security devices a company can offer.

Current cloud providers are highly concerned with the security of their systems. They will often utilisecutting-edge data encryption and other security tools to protect data from being hacked. Some of the advanced cloud providers can include advanced intrusion detection, allowing security teams to fend off hackers even before they attack.

Also, physical data storage, such as an external hard drive, can easily be damaged or lost. Data that exists in the cloud is not physical and, therefore, cannot be fractured in the same way an external hard drive can.

There are a lot of benefits to making the switch to cloud storage. The software is provided immediately, and there is no wait on what the business has paid for. Working on the cloud allows businesses to be nimble, efficient and cost-effective.

When considering making the switch to cloud-based storage it is necessary to do some competitive shopping first. Business should consider the following:

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advice

taxation
planning

compliance
services

News

Amnesty means that 24,000 businesses own up to underpaying Aussies superannuation

September 24, 2020

An amnesty scheme which ended earlier this month has caused around 24,000 businesses to admit to underpayment of their worker’s super. A total of 588 million dollars will be distributed to almost 400,00 individuals.

The scheme, which covered payments from the introduction of super in 1992, gave employers the opportunity to come clean without any consequences as long as they paid the unpaid super as well as 10% interest for every year the money was overdue.

The ATO will be directing its attention at any businesses that did not admit fault and these businesses will face severe penalties.

Many individuals are looking to access their superannuation early in order to have support during these times. Although there is criticism of early access to super, this facility has been helpful to many families to keep afloat.