9/19/2023 0 Comments Sugarsync encryption![]() During the installation process, a folder labeled “My Dropbox” is added to the computer’s file directory. After an account is created, a small synchronization application is downloaded and installed to a local computer. Dropbox’s popularity is attributed in part to its extremely simple user interface. Dropbox is a cross-platform service that supports Mac, Windows, and Linux operating systems and also features mobile applications for iOS (iPhone and iPad), Android, Windows Phone, and BlackBerry.ĭropbox offers free accounts with 2 GB of storage and paid accounts up to 100 GB available for $19.99 per month or $199 per year. With more than 25 million users, Dropbox ( is one of the most popular online document storage services. Each description is followed by a summary of its respective pros and cons. ![]() With the basics of online document storage addressed, let’s explore some of the more popular online services you can use to store and access your files. Also, as documents are accessed over the Internet, planners need to have contingency plans in place when Internet access is not available or the online provider experiences a service interruption. Security, encryption, and data protection policies vary widely among online storage providers, so it is imperative that planners perform due diligence before storing sensitive files on such services. However, online document storage is not without its drawbacks. Industry standard AES-256 encryption is often employed to secure data stored on online services, equal to the encryption applied by banks and financial institutions to their online applications. All online document storage users must create accounts with standard user login credentials. Online storage users simply pay for the amount of storage space required and can increase their allotted storage capacity at any time.ĭocuments stored on online services are also generally well protected from unauthorized access. Online storage is typically much less expensive than the cost of maintaining onsite servers, which can require expensive maintenance and upgrades. Many service providers employ data redundancy across a network of servers located throughout multiple data centers. Files stored online are automatically backed up to prevent data loss in the event of a hardware failure or hard drive crash. Online document storage services offer several benefits over file servers maintained in a financial planner’s office. ![]() Document storage only accounts for the storage of files on a remote server and should not be confused with document management it lacks many of the robust features offered in document management applications. Online document storage is the process of placing documents and files on a remote server accessible over the Internet, typically managed by a third-party service provider. For this column, I’ll address the basics of how many online document storage services work and highlight the pros and cons of several popular providers for use in a financial planning environment. Online document storage services make it possible to store and synchronize important files you work with every day and make them accessible from any location with an Internet connection. Things would be even better if the documents you worked on while in the office stayed synchronized across all the other devices you use for work, including your laptop, mobile phone, and tablet computer. Life would be so much easier if you had a way to access your documents and information at any time from nearly any location. You can either turn around to retrieve it, running the risk of being late to your meeting, or frantically call your office, asking someone to find what you need and email it to you. His comments on technology and financial planning can be viewed on his blog at I imagine something like this has happened to you more than once: as you’re on your way to meet with a client, you realize you’ve forgotten to grab a document off the printer, or forgotten to copy the latest version of your presentation to your laptop. Journal of Financial Planning: November 2011īill Winterberg, CFP ®, is a technology consultant to financial advisers in Dallas, Texas. ![]()
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