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In today's digital age, cloud-based software solutions have become increasingly prevalent across various industries. However, some Swiss firms may remain sceptical about adopting cloud-based software for their trust administration and corporate services firms. So what are the myths and facts?     

Myth: Cloud-Based Software Compromises Data Security.

Fact: Cloud-based software is designed with robust security measures to ensure data protection. Reputable providers implement industry standard encryption protocols, secure data centres, and stringent access controls. By allowing your data to be managed by a cloud provider, you can actually enhance data security compared to maintaining data on local servers.

Myth: Cloud-Based Software Lacks Control and Ownership.

Fact:  Firms retain control and ownership of their data when using cloud-based software. Providers offer data ownership agreements, ensuring that your firm maintains full control over your data and can access and export it at any time.

Myth: Cloud-Based Software is Less Reliable.

Fact: Cloud-based software often offers higher reliability compared to on-premises solutions. Reputable providers invest in robust infrastructure, redundant systems, and disaster recovery plans to minimise downtime. With the right provider, trust firms can enjoy reliable access to their trust administration or corporate services software from anywhere, anytime.

Myth: Cloud-Based Software is Complex and Difficult to Use.

Fact: User-friendly interfaces and intuitive designs have made cloud-based software accessible to users with varying levels of technical expertise. Trust administration and corporate services software providers offer comprehensive training and support to facilitate a smooth transition and ensure that users feel confident navigating the platform.

Myth: Cloud-Based Software is Expensive.

Fact: Cloud-based software often follows a subscription based pricing model, which allows firms to pay for what they use, without the need for significant upfront investments. Additionally, by eliminating the costs of maintaining local servers and IT infrastructure, cloud-based software can actually provide cost savings in the long run.

Myth: Cloud-Based Software Lacks Customisation Options.

Fact: Software providers recognise the need for customisation to meet the unique requirements of each trust firm. Reputable cloud-based software solutions offer custom features, workflows, and reporting capabilities, ensuring that the software aligns with your specific needs.

Cloud-based software can transform the way firms operate, enabling streamlined processes, enhanced collaboration, and improved client services. 

If you're a trust or corporate services firm sceptical about cloud-based software, we invite you to book an introductory call with one of the team. They'll address your concerns and showcase how software can empower your firm to thrive in the dynamic trust and corporate services industry.