Hand shows a data cloud with a protective shield. The concept of data protection
The evolution of the web has led to more creative ways of productivity. In a business, the sole purpose is to utilize time that effectively speeds up processes while increasing efficiency. Cloud hosting is the future of the modern business environment and many business processes and services depend on it. Clouds can host a variety of materials or services that cater from simple needs to advanced enhancements. But, first, what is trust and why is transparency so important in a business?

What is Trust in a Business Setting?

Trust can be defined as “an act of faith or confidence and reliance on something that’s expected to behave or deliver as promised”.  Another way to define it is the basic belief that those you rely on will take care of matters or valuable assets. Trust is the foundation of healthy relationships. Cloud hosting can help build character and, in a business setting, it performs marvelously. It helps employees respect and depend on one another for tasks, duties, or operations within an organization.

In the same way, if trust is an issue, productivity levels diminish and overheads increase, causing severe stress on the overall general health of a business. If a system is consumed with errors and produces inaccurate results or insufficient information, it is prone to being ignored.  This leads to strenuous circumstances for a business that may already be engaged in fierce competition who, like cloud hosting, cannot handle lack of trust that contributes to the suffering of a business. Inter-department trust relationships improve when everyone on board senses that all others in the loop are dependable and reliable to work collectively towards company goals set earlier according to the schedule or plan.

Essential Ingredients For Trust and Transparency: Control, Ownership, Prevention, and Security

Many things contribute to trust and this brings us to the importance of transparency. For trust to be truly cemented, control, ownership, prevention, and security come into play to provide transparency to further build upon it. Control is one such important factor in trust. For example, imagine the capabilities of an ATM as a cloud hosting service where everyone trusts an ATM machine to give us money when we input the correct pin after swiping our card. However, not everyone trusts ATM machines to make deposits and some would rather visit a bank counter have a teller do it instead. When you need the money, you don’t visit the teller, instead, any bank ATM close to you for rapid access to your funds.

Ownership has seen variations of trust. For example, a pair of Adidas runners would satisfy its loyal athletic fanfare because they trust the logo and the mark that the product carries. For cloud hosting, another way of looking at it is who the person gives control of a credit card to, for example, a billing agent. It won’t be in the interest of the business if they use your card without your permission, causing it to lose trust because of misuse and illegal usage (think control) of the card in terms of ownership and they may face legal consequences. This brings us to prevention. In order to establish trust, contractual relationships are consummated. Any service that isn’t delivered has to be compensated by the service provider to the organization and this would be a valid clause in the drawn up contract. Cloud hosting service providers use SLAs (service-level agreements) to enhance and magnify trust levels. However, these don’t always help in cloud computing.  

So, security comes into play. It plays a dominating role in service failure and building along with nurturing trust in a cloud environment. For virtualization, key security issues like identification management, data leakage, control of access, VM protection, etc. are all addressed with efficiency, making it ideal for all business environments.

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About Complete Controller® – America’s Bookkeeping Experts
 Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.