No. In fact, a cloud-based system is hosted in one of the most secure data centers in the world — Amazon Web Services, in most cases.
Since cloud software is typically all-inclusive, there are no hidden costs. The licensing fee keeps the overall cost of the system consistent, with no surprise fees for upgrades, tech support, and unscheduled maintenance, which are common with legacy systems.
The licensing fee, over time, proves to be much cheaper than the monthly/ yearly costs associated with maintaining an outdated system.
Your organization evolves as new technology emerges. You most likely operate many aspects of your business through the cloud already (e.g. Salesforce, Office 365, Google Suite, etc.). A cloud-based door access system allows your physical office to keep up with your increasingly agile virtual office.