In a recent article, Top 5 questions CPAs have about the cloud, CPA Canada identified five critical questions when considering cloud-based technology for your firm or office. Leveraging the power of automation can effectively transform your organization, if the right questions are asked before you begin.
WHERE IS MY DATA LOCATED?
Where your data rests determine which regulations and legislation it may be subject to. Data hosted by foreign cloud providers, including those in the US, may be required to provide any requested data to their government without informing the affected parties or respecting Canadian protections.
To protect our clients, Artiffex holds all data securely in Canada, protected by Canadian legislation and regulations.
HOW SECURE IS MY DATA?
Data breaches are a major concern, especially in the financial industry. Housing your data in Canada is a good first step. It is also important to ensure that your data provider meets minimum, industry-established standards.
That is why Artiffex is proudly SOC 2 Type 1 compliant, as confirmed by Raymond Chabot Grant Thornton LLP. We also meet the strictest protocol requirements of the Ontario Securities Commission and the Privacy Commissioner of Canada, including respecting The Personal Information Protection and Electronics Document Act of Canada. We utilize a firm specializing in network security to regularly perform penetration tests on our network to ensure we do not have vulnerabilities.
WHO CAN ACCESS MY DATA AND HOW?
Organizations can implement their own controls internally but knowing how your data can be accessed by external parties is essential to determining security. We adhere to the strictest rules as set demanded by SOC 2 to ensure data is accessed only by those who need to do so in the context of their work. This is fully transparent to our customers.
WHAT ARE THE COST CONSIDERATIONS?
It is important to weigh the pros and cons. Cloud-based services usually offer subscription models, allowing the client full access to the tool without having to make a substantial investment in in-house software or in training users. Artiffex offers a subscription model which is based on the number of entities the firm places in the application. We have options available to firms of all sizes.
We also offer a turnkey outsourcing service, so clients can easily, and cost effectively offload files as needed, with no ongoing commitment, a 24-business hour guarantee and, most importantly, no need to adopt software. Over the last two years as firms have struggled with staff shortages and employee turnover, we have seen tremendous growth in the utilization of this service.
WHAT ELSE DO I NEED TO CONSIDER?
There are challenges when adopting cloud technology, including the quality of client support available, the time commitment required to implement processes or train users, determining the effectiveness of the deliverables, and, most importantly, a plan for change management. An ability to successfully execute on a change management plan is the significant difference between gaining some operational efficiency and really knocking it out of the park.
Artiffex supports accounting firms and family offices across Canada. Our case studies and client testimonials reveal our dedication to our clients, and their success with Artiffex is our pride.
Discover how Artiffex can transform your organization.