While we all agree businesses need to Monitor and Control – Process Quality, Productivity, and Performance by embracing technology, but we are wary of Data Security, Privacy, and Compliances offered by technology partners. It’s more relevant in case of a Valuation Firm empanelled with an institution to comply with their nondisclosure agreement.
Organizations are rapidly considering cloud-based tools for their business processes, from Business Management to Client & Customer Relationship Management to Resources Management (Productivity, Training, etc.) to Invoicing.
Software as a service (SaaS) model enables technology providers to offer affordable solutions to businesses which in the past only large companies could afford. While there are advantages, end users are unclear about their data security.
Here are some of the tips for keeping your data secured while using cloud-based applications.
- Choose your SaaS Technology provider carefully:
In particular, the platform should provide password-protection, and user controls that limit access to sensitive data, and data encryption. Check with the vendor how the data is stored and how the backup and recovery process works. - Create an access rights policy
A policy to define: how employees can access the software, what are their rights, can they access their application from any mobile device and who can download data. - Create Backup
Ensure the tool allows necessary access to create a backup of your data either into cloud platforms like google drive or one drive and or in a local system - Insist on Stronger Passwords
Insist users to create strong passwords when they create their accounts. The tool should enable them to reset their passwords once in a month or 45 days.
As the SaaS industry is maturing, a focus on security and privacy will only become more important. Every day new technologies are evolving and providers are adopting them in their environment to offer world-class services to their customers.
Evalo Offers Customers to Comply with their NDAs
Evalo, Retail Valuation Process Management Software, offers on the Hybrid SaaS model that enables its customers to still enjoy the benefits of always being connected on the cloud from wherever they are and yet have their data stored in their servers. Users have the option of subscribing to their servers from Amazon Web Services, Google Cloud Platform, etc.
Softwares are built based on generally accepted practices and processes, which is mostly adopted by the majority of players in the Valuation industry. This standardization may, at times, result in deviation from existing processes followed by few Valuation firms and hence resulting in resistance.
Conclusion:
Technology will transform all our lives and businesses.
It will not be inappropriate even to address software as a partner in growth. Especially with the Corona impact, the need for technology has advanced itself by at least 5-7 years. We have proven instances of long-term advantages of success and also short-term resistance in adaptation. It is advisable to device a transformation plan depending on the current firm’s needs and accordingly chooses the solution layer.
The platform already provides tools to derive meaningful operational intelligence to aid your business decision-making process. It has dedicated resources, which is currently committed to come up with tools to help the property valuation fraternity extract data from their historical reports to aid them in making their informed opinion with Valuation Comparables and stay relevant & competitive in the future.
By – Team Evalo