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A software as a service (SaaS) company offers a cloud solution for document management to private law firms and the public sector. A local government client recently mandated that highly confidential documents cannot be stored outside the country. The company CIO asks a Solutions Architect to ensure the application can adapt to this new requirement. The CIO also wants to have a proper backup plan for these documents, as backups are not currently performed. What solution meets these requirements?
Factoring Transaction
The process where a business sells its accounts receivable (invoices) to a third party (factor) at a discount, in exchange for immediate cash.
GAAP
Generally Accepted Accounting Principles, a set of rules and standards designed to ensure consistency, fairness, and accuracy in financial reporting and accounting practices in the U.S.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is global in scope.
Factoring Transaction
A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.
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