In today’s world, nearly every business thrives on data. Data can come in a multiplicity of forms including customer data, customer reviews, employee details, performance reports, and financial records of a company. Such data is continuously updated and thoroughly analyzed to enhance the company’s services or products, and performance. It cannot be stored solely on the company’s machines because there is a huge risk of loss involved. Therefore, many companies choose to store such data in the cloud.
However, with big data comes big responsibility. It is important to keep these points in mind before signing a public cloud contract:
1. Do Your Homework
Since companies that offer cloud services want to close a sale, they can make tons of promises and offer misleading stats about their company’s track record. While some of it may be true, do not rely solely on what the salesperson says. Do your own due diligence. Research thoroughly and try to get in touch with other companies using the same service to get feedback.
2. Read the Contract Thoroughly
Common mistake companies make is skimming the contract instead of reading the contract thoroughly. You must carefully read through all the provisions of the contract including which party bears liability in case of data theft, breach, hack or loss. Be sure you understand what will happen if services must be terminated. Ask, “Where does my data go?” and “Are any data files copied with the cloud service providers?” Only when you have all the answers and are satisfied with them should you sign on the dotted lines.
3. Check for Service Extensions
Once you begin using a cloud service, it can be difficult to shift all your data at one time from one service to the other. So, before signing that cloud contract, make sure to find out if the company offers an extension service before your contract expires. Also, since the amount of data could increase, find out the maximum amount of data the service can hold before extra charges are levied.
Once you have asked the necessary questions and received satisfactory answers, you will have the peace of mind to accept the cloud service contract.
Download Whitepaper on 3 Things to Know Before You Sign that Public Cloud Contract