The power of the cloud: mitigate risks and embrace opportunities
Cloud computing is driving digital transformation. And it’s the engine behind the Internet of Things (IoT). Still, executives are reluctant to fully embrace cloud technology. Our white paper "The Power of the Cloud" offers insight into the risks and the opportunities when adopting cloud solutions.
The cloud serves as the underpinning foundation for much of today’s digital transformation because of its adaptability, accessibility, scalability, resilience and favorable economics. Of all the disruptive technologies, cloud in all its forms has had the biggest impact and provides the basis for most of the other technologies and their ability to disrupt.
Our "The Power of the Cloud" white paper – created in collaboration EuroCloud Switzerland and Glenfis – helps you make better informed, business appropriate and risk-aware choices when considering cloud solutions. Here are a few highlights:
The power of the cloud
Keeping up with the pace of change, many businesses have integrated cloud-based solutions to remain competitive, while others are just getting started. Many are turning to the cloud to access enhanced availability, stability, performance and resilience while improving their agility and accelerating innovation.
Nevertheless, there’s still a reluctance among senior decision makers to fully embrace cloud technology. Executives worry about cyber security, data privacy, third-party risk posed by cloud providers and cross-border data transfer risks.
How to mitigate cloud security risks
When thinking about cloud computing there are many non-functional dimensions which should be taken into account, including data protection, data security and data sovereignty. These considerations apply to any form of technology service but can become more complex in cloud, where the cloud platform may be shared with many other unknown tenants and where customer data may be stored and processed in many different jurisdictions.
How do you mitigate cloud security risks? The first step is to determine your cloud risk exposure and understand the four key potential risk categories: confidentiality or integrity breaches; unavailability of service or data; compliance with regulatory or state requirements; and subcontractor implications.
Managing the risks of the IoT
As the IoT creates tremendous business opportunities and competitive advantage, it also generates risks that must be anticipated and managed. Such risks include typical cloud computing risk, those associated with the individual networked IoT components or risks arising from the complex integration of the components and actual use cases. A specific role must be allocated for managing the associated risks of the IoT.
Data privacy and cross-border compliance in the cloud
Data privacy and cross-border compliance in the cloud pose further challenges. With regulators cracking down on non-compliance and General Data Protection Regulation (GDPR) just around the corner, it’s essential to fully understand your company’s data flows and the applicable regulations before defining your cloud adoption strategy and implementation/usage approach.