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When the time comes to make a much-needed upgrade to your organization’s entity management software system, you are presented with many options. It is easy to be overwhelmed, particularly if you have had the same software in place for years.
It is essential to learn about the crucial differences between on-premises and cloud-based software. While both types perform similar tasks, the truth about on-prem entity management software systems showcases the importance of choosing a flexible system that runs on the cloud.
When it comes to software, systems can be deployed using either an on-premises model or a cloud model.
On-premises deployment means that the entity management software system is set up in your organization’s location. The software is installed on your servers, and you are responsible for the equipment, maintenance, and overall management of the system.
These solutions are generally managed by in-house IT teams. This setup is vastly different from their counterparts — cloud-based software systems.
With cloud entity management, the software is deployed through a software-as-a-service provider. There is no equipment on-site, and access to the system is provided solely through an internet connection. Likewise, the provider performs all maintenance and upgrades to the software through the cloud.
The biggest drawback of using an on-premises entity management software system is that it is not easily accessible from multiple locations. Typically, it can only be accessed from the area where it is located. In cases where remote access is enabled, a third-party system is typically involved.
While you can install additional security measures on the mobile device the system will be accessed with, the third-party involvement comes with its own risk. By comparison, cloud-based entity management systems are accessible from nearly any device with an internet connection.
This versatility offers maximum flexibility, and because these solutions are designed to be easily accessible, they often already have strict security protocols in place to protect secure data.
If you decide to use on-premises entity management software, you are responsible for ensuring that the system is compliant with local laws and industry regulations. As compliance standards are ever-changing, it can be difficult for a small organization to keep up with the frequent updates.
Larger firms typically have a team dedicated to the management and compliance of their systems, but this can be a costly addition if you do not already have one in place.
Compliance can also be a concern for those who use cloud-based models, which is why it is crucial to choose a provider that understands industry-specific mandates. If you opt for an entity management software service provider with proven expertise in your industry, you can eliminate a lot of concerns.
An on-premises management system requires an exponential investment to implement. The system is essentially built from scratch to meet the needs of the organization, which requires a lot of hardware, infrastructure, and effort to launch.
While you will pay hefty costs for the system itself, you also need to account for the many hours an IT team will spend on the project, as well as the costs of ongoing licensing, maintenance, upgrades, and overall operating costs.
For most businesses, a cloud-based system is substantially less expensive and time-consuming. Essentially, all that is required to get started is a monthly subscription fee, and your provider will handle updates and general maintenance.
Downtime within a business is catastrophic. It prevents tasks from being completed on time and can cause data loss, among a host of other problems. On-premises management systems are reliable when deployed and maintained properly, but like all software systems, they run the risk of problems.
When a problem occurs that leads to downtime, troubleshooting relies solely on the IT team that manages the system. In the event of equipment damage or breakage, it takes time for the necessary parts to be identified, ordered, and replaced.
This lag can lead to lengthy periods of downtime that may prevent you from conducting business as usual. With a cloud-based system, a team conducts regular maintenance to identify potential issues before they lead to downtime.
Data loss occurs when data has not been properly stored, saved, or backed up. On-premises management systems are subject to data loss because they only store data within an internal server. If they have not been manually backed up and the system malfunctions or is otherwise compromised, it may be impossible to retrieve the lost data.
When you work within the cloud, most providers offer cloud backup services. This service means that your data is automatically backed up as it is entered into the system. Even in cases where a system malfunctions, data is retrieved quickly and effectively.
Ready to learn more about the benefits of Athennian entity management software systems for your organization? Speak to a digital entity management expert today.
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"Very easy to use, modern interface, excellent support. Athennian has an amazing conversion team. They helped us migrate all of our data and the training was very good."
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“When we were reviewing other entity management systems on the market, in some cases, we were not comparing apples to apples. But with Athennian, there was really no comparison. The paralegals were so excited to come on board.”
"There are so many things I like about this program, but the one thing that really stands out is the user friendly interface. The program is fast and allows me to enter corporate information very quickly and efficiently. I would also like to note that Athennian provides the most the fantastic customer service."
