By Lora Mays, Product Marketing Manager

In recent years, cloud software has become a staple for enterprises in all functions of business. From accounting to facilities management, cloud computing has transformed organizations and the way that they interact and use their data. Even so, there are still several myths that exist about cloud software and whether it will work for every organization.

In today’s blog post, we debunk five common myths in regards to investing in cloud software for your asset, facilities and real estate portfolio management.

You don’t own your data with cloud solutions

Whether you own your data or not depends on the vendor. However, Accruent customers always own their data. When choosing a cloud vendor, review the contract to ensure that legal language related to data ownership is clear.

Customization is not available in the cloud

A single code base ensures better performance and functionality, as the vendor is able to make updates and improvement to the software and pass them along to the bulk of customers. The shared community experience makes it easier to ensure the best operation of the software across the customer base. Technologies like data replication can make certain that your cloud software can be personalized to fit your organization’s unique needs.

Cloud software can’t handle enterprise-level business

A large growth among cloud software comes from enterprise-level business. In fact, earlier this year, Gartner predicted that cloud software at the enterprise level would grow more than 30 percent in 2015 as infrastructure-as-a-software (IaaS).

Because cloud software is based on a single code base, it makes it easier for it to scale and transform with your business. Vendors are able to adapt the software quicker and meet the changing needs of the industry.

Cloud software is subject to security issues

Most cloud applications are hosted by certified data centers. For these data centers, their primary responsibility is data security. In addition, because you are always operating from the latest version of the software with cloud, you can ensure that you have the latest patches to ensure data security. Because of this, cloud software tends to be more secure than what you find with older, on-premises versions.

Performance in the cloud can’t be guaranteed

Reputable cloud software vendors will guarantee uptime in the range of 99.99 percent, which means that you may experience up to an hour of downtime per year. Cloud software vendors also maintain separate disaster recovery sites, so that they have a backup to ensure business continuity in the event of an emergency or disaster where they host your software.

Interested in learning more? Check out our recent webinar with Rackspace, which highlights how to keep your data secure in the cloud.