Cloud myth #1: Private cloud is more secure than public cloud
At mid-size and large law firms, the pandemic accelerated the adoption of many new technologies and ways of working. And it’s no surprise that today’s cloud solutions — and the flexibility, configurability, and scalability they promise — are in high demand. But it’s important for law firms to know that not all cloud solutions are created equal. Failing to thoroughly understand and vet these systems can lead law firms to select and invest in solutions that ultimately inhibit their ability to adapt and grow.
This article is the first in a series in which we’ll discuss some of the key considerations that must be taken into account as law firms plan a move to the cloud. This includes assumptions and misconceptions around the capabilities and benefits of different cloud systems and the myth that the private cloud is more secure than the public cloud.
Is private cloud more secure than public cloud?
All things considered, public cloud provides more up-to-date security features than private networks. To defend against increasing threats of cyberattacks and breaches, today’s forward-thinking law firms know they must invest in technologies that help shield their data and keep it secure. For a growing number of mid-size and large firms, growing concerns about data security are driving their move to the cloud. However, questions around whether to invest in a private or public cloud solution continue to cause confusion among many industry leaders.
This confusion is due in part to the belief that, when it comes to technology, the term “private” is often equated with greater security. However, this adage doesn’t hold up when it comes to cloud technology. To bust this myth, let’s take a closer look at the security advantages of Thomson Reuters 3E — the legal industry’s first software as a service (SaaS) enterprise financial and practice management solution — that is deployed in the Microsoft® Azure® public cloud platform.
Due to its shared, multi-layer security approach, 3E enables the protection of financial, practice, and client data with the combined industry-leading security approach from Thomson Reuters and Microsoft Azure.
A company with the size and financial resources of Microsoft means assurance that their data centers are designed with physical security in mind — with multiple layers of protection. This includes physical security measures like fortified perimeters, biometric identification, and multi-factor authentication.
Together, Thomson Reuters and Microsoft employ numerous defensive technologies to protect the overall network. This includes Microsoft’s sizeable annual $5-billion investment in cybersecurity that incorporates artificial intelligence (AI) technology, in addition to more than 8,500 cyber security engineers and analysts. Together, these security measures allow for real-time detection and neutralization of potential security threats.
Additionally, modern standards-based identity and access management ensure secure communication within the application modules, while the Thomson Reuters privileged access management capability ensures that firms' data is always protected. Plus, the implementation of the latest AI technology greatly reduces the need for on-site personnel and the related errors and security threats that more human interaction can sometimes introduce.
A key component of a secure cloud platform centers on validating the identities of authorized parties, while also having measures in place to control access. Within 3E, secure verification components like Multi-Factor Authentication (MFA) and Single Sign-On (SSO) are implemented and Thomson Reuters provides a secure method for verifying user identities — making the process of granting or revoking access to data seamless for law firms.
To protect law firm’s critical business information, 3E utilizes a single-tenant data strategy. This means that individual firm data is always isolated and stored separately from the data of other law firms. Additionally, data stored on disk is protected with end-to-end encryption via secure encryption certificates and keys. Data privacy and access are always protected in accordance with stringent national and global data protection laws.
The 3E advantage
For law firms planning a move to the cloud, it’s critical to invest in cloud technology that supports long-term growth and financial goals. For those goals to be realized, data security must be a key consideration. When it comes to protecting a firm’s data, privacy, and overall security, the benefits of a public cloud solution far outweigh those of a private cloud database.
That’s why the world’s most innovative large and mid-size law firms trust 3E. Together, Thomson Reuters and Microsoft have built a cloud-based solution that encompasses performance you can see and value clients will feel — backed by the solution trusted by law firms everywhere.
Is your firm ready to make the move to the cloud? Take action today to discover how 3E can benefit your law firm.
Thomson Reuters 3E enables law firms to automate financial tasks, drive operational efficiency, and provide fast, proactive service to their clients