The American Government has recently passed legislation that will grant it more access to digital data. The “Clarifying Lawful Overseas Use of Data” or CLOUD Act was a last-minute addition to the $1.3 trillion federal spending bill, which was signed into law by President Donald Trump this past March. The controversial act allows both U.S. officials and foreign governments more access to personal data stored in the cloud.
One of the major barriers to businesses’ use of the cloud is making sure their cloud providers comply with local laws and standards. Varying provincial regulations mean that data storage, access, and accessibility may vary by location for the same kind of data. Data sovereignty is the concept that digital information (e.g., data) is subject to the laws of the country where it’s located. So how do Canadian laws affect data sovereignty in the cloud?
By nature, the insurance industry is a risk averse field. While the industry has used IT for a long time, insurance companies have shied away from moving to the cloud–until now. Industry norms are changing. Around the world, insurance companies are reviewing their business and spending practices, especially around IT expansion, spending ratios, and automation. Any change to business processes must justify the cost and effort of making the change. The cloud is a unique opportunity to change operations while lowering costs. Learn ways cloud computing has changed the industry, and how you can take advantage of this.
While the cloud has been around for several years, initially as a buzzword and tech favorite, it’s now moving to a practical application for financial industries. Financial organizations must handle sensitive data. Increasingly, this means protecting data from cyber threats and investing in a robust in-house IT solution to keep current. Compared with these hassles, a private and secure cloud streamlines things and offers several key benefits for accounting firms and financial organizations. See why the cloud is an ideal solution.
The legal industry has lagged behind other industries when it comes to moving IT to the cloud, in part due to regulatory and compliance concerns. Private, secure clouds afford law firms the convenience of the cloud while offering superior protection from cyber security threats. Learn how cost-effective a cloud can be, how it can improve the way your law firm runs, and how it protects against cyber security threats.
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