WHITE PAPER: Cloud Considerations for the Nonprofit CFO

May 25, 2017

Myths of the Cloud

Heard rumors? Get the facts!

A number of concerns remain for first-time cloud adopters, especially for those who manage applications with sensitive data. Let's see how well you know the cloud in this true/false quiz!

Myths of the Cloud

With state-of-the-art intrusion detection and encrypted data, many organizations find the cloud is more secure than their local servers.

Oops, the answer is false!

Correct!

TIP: Work with a cloud vendor that enforces rigorous controls and compliance standards.

With a cloud software solution, you can improve internal controls by setting up user permissions so that specific employees or departments only see the information they need.

Oops, the answer is true!

Correct!

Cloud solutions reduce or eliminate hardware maintenance and replacement costs and cloud services are rented—not owned—and are therefore delivered most often via subscription.

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Correct!

TIP: Understand the true cost of your IT organization and apply that to a five to seven year Net Present Value (NPV) analysis—at minimum—for any financial software decisions.

Although you’re utilizing your cloud vendor’s infrastructure, your data still belongs to your organization.

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Correct!

TIP: Understand your provider’s policies for providing data copies should you request them or decided to discontinue the use of their services.

Nonprofits who hope to keep their IT management in-house are finding it harder to attract, afford, and retain the talent necessary to run an efficient technology stack. Worse still, a poorly managed IT portfolio exposes the organization to security and continuity risks as threats become more sophisticated.

Oops, the answer is false!

Correct!

Evaluating a new cloud-based accounting solution? Check out these resources to help you choose the right accounting solution for your arts and cultural organization.

Everything a CFO Wants to Know About Nonprofit Accounting

Check it out

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