Inventory management software minimizes asset governance workloads, improves asset lifespans, and helps reap higher returns. The benefits are significant motivators for companies to purchase the application. 

As asset managers monitor and control resources, large amounts of data accumulate in the software system. Some data are more sensitive than others. Storing such information on cloud-based inventory management software is often conceived as risky. It’s not. 

The cloud-based software allows users to access the application and its databases from anywhere at any time. While this is an advantage, you may wonder about the security reliability. The application operating over the cloud employs essential features that prevent data breaches due to cyber attacks, unintentional deletion, and more. 

So is a cloud-based inventory management system secure? Or is it better to purchase an offline application and forego the flexibility a cloud solution offers? The cloud application is the best choice and is effective in preventing data loss. We discuss how in deeper detail in this article. Let’s get started.

Impact of data loss

Loss of data due to any reason can be disastrous for company prospects. Taking preventative measures to circumvent potential data interruption is always a wise choice. Data loss of any kind – theft or leak, has a negative toll on a company’s reputation. The breach of intellectual property can further jeopardize a company’s business plan and growth strategy. 

Online inventory management software solutions in the market are not uniformly secure in the same way. Some applications have strong security layers and protocols, while others are unreliable. To ensure top-end data loss prevention modules in your cloud-based inventory management software, you must look for a number of features. We delve into what they are.

Mitigate data risks with cloud-based inventory management software

Now let’s go over how cloud-based inventory management software safeguards your asset data from falling into the wrong hands. Making sure the software you want to purchase contains the following features will secure your business data.

Encryption

Encoding data into an alternative form only authorized users can decipher is known as encryption. It is a cryptography technique that prevents your data from being visible to suspicious users. Advanced cloud-based inventory management software encrypts confidential data before storing it on cloud servers. The data is understandable only to you and your staff, so your information remains secure.

Warnings

Any attempts to misuse data or cause disruptions must reach your awareness immediately. Scanning logs and files to detect unusual activity can be time-consuming and increases room for oversights. Cloud-based inventory management software eliminates that hassle by alerting you via SMS, e-mail, or in-app notifications.

VPN

Accessing the cloud to use your software over your business network is safe. But when you or your staff members access the application from a remote location over a public network, data security is at risk. World-class cloud-based inventory management software throw popup reminders to connect over a VPN (Virtual Private Network). It secures your operations from potential cyber threats.

Backups

Accidental deletion of data can bring operations to an unexpected grinding halt. And in offline applications, once deleted, the data is not retrievable. That’s not the case with cloud-based inventory management software. It creates backups at regular intervals. So recalling erased data is as easy as restoring a backup point.

Analytics

Lastly, keeping close tabs on user activities in your cloud-based inventory management software helps detect unfamiliar activities. The software does this automatically. It records every log-in, logs out, and the time they occur, thus improving accountability and overall security. 

Conclusion

Data loss is an issue that affects organizations worldwide. Its repercussions stifle not only productivity but also credibility. Cloud-based inventory tracking software safeguards proprietary data to the maximum. If you’re looking for one, get our highly acclaimed asset management software – SmartAMS. It is cloud-enabled, fast, secure, and user-friendly. Reach out to us to learn more.