There has been an unprecedented growth of cloud-based software and SaaS platforms, Gartner estimated that cloud services would grow 17.5% in 2019 and continue to grow exponentially by 28% in 2022. The monumental movement to cloud-based software may have some property management companies weighing out whether or not there is enough reason to transition from self-hosted physical servers to a cloud-based SaaS platform.
Here is how the cloud compares to traditional on-premise servers.
Cloud based software is located through the internet which means that it can be accessed from virtually anywhere. This allows property managers to log into their SaaS platform outside of the office, on site, or at home using any kind of smart device. Secure and easy access to the cloud enhances business continuity by facilitating virtual access to essential company databases without a physical server so, if for any reason staff can’t get to the office, they can continue to serve their communities seamlessly online. Physical servers can prevent property mangers who are on site or working remotely from being able to access the data necessary to do their jobs efficiently outside of the office.
On-premise servers are thought to be more secure to cyber attacks than the cloud. Often companies feel as if their data is safer on physical servers because of its proximity, however that is not necessarily the case. Protecting data is about more than where it’s hosted, it’s the additional measures taken to keep cybercriminals away. This means that data on the cloud can be more secure than data stored on premise depending on each organization’s security measures.
It’s important that companies do their due diligence and select cloud providers that have a strategic plan to protect and defend sensitive data stored in the cloud. SaaS providers can implement layers of security measures such as encryption, VPNs, and data duplications.
Different apps hosted on the cloud are connected through the internet unlike physical servers, which allows for instant data back ups as new information is added to the system as opposed to schedule backups. The real time data also allows for information in the system to be available to every user in real time providing staff with access to current and accurate information to facilitate prompt and precise work and responses at all times.
For companies hosting their property management on site the costs are often more expensive in the long run. The costs of premise hosting the include an initial investment in the hardware, maintenance, upgrades, increased storage. On-premise servers takes up office space which causes companies to lose space they’re paying for which can result in higher operational costs in comparison to software hosted on the cloud which requires less overhead, using no additional electricity or space. Additionally, software upgrades are typically included in SaaS subscription packages ultimately resulting in lower expenses over time.
Cloud software is a scalable and flexible platform for property management companies expecting to grow their portfolio. The cloud is not limited to the confines of tangible spaces like physical on-premise servers which means that is adaptable and can flexibly support portfolio growth and an increase in data whether its just a growing number of units and properties or a expansion into different industry sectors.
When organizations choose to move their property management system into the cloud, they are choosing agility, preparedness, and flexibility.