Cloud technology: Governing it and managing risks in business

Cloud technology: Governing it and managing risks in business

The time has occur for Bangladeshi organization leaders to system and employ strong cloud governance frameworks

10 September, 2023, 04:00 pm

Final modified: 10 September, 2023, 04:07 pm

Illustration: TBS


Illustration: TBS

Illustration: TBS

Several enterprises around the world have embraced cloud technologies as an necessary element of their digital transformation journey. In Bangladesh, most major organisations have started migrating and employing their organization useful resource arranging (ERP) purposes on cloud infrastructure and storing numerous of their business files on cloud storage.  

These new techniques symbolise development towards developing a electronic business and support organisations drive new company models and build benefit for their stakeholders. Having said that, business leaders of these foremost organisations will have to be conscious of a essential part of this transformation journey – controlling risks and compliance. 

Insufficient concentrate on threat administration though reworking the business enterprise may well direct to intense outcomes, together with cyberattacks, interruption of company functions, regulatory non-compliance and price overrun. Each can be impactful adequate to erode all the enterprise benefits envisaged as a result of adoption. 

It need to be observed that all organisations that have adopted cloud technological know-how are not always cloud-run. 

A cloud-driven organisation understands and acknowledges that its transformation journey will possible develop new business enterprise pitfalls. So, it revises its risk management strategy and implements it accordingly.

In accordance to a PwC assessment, cloud technologies can affect threats and controls in various techniques. There really should be a multi-pronged tactic to tackle hazard administration although operating cloud adoption courses. 

1st, a cloud-powered organisation really should employ a mature cloud governance framework. PwC’s analysis uncovered a immediate correlation involving an organisation’s cloud maturity and its risk management maturity. 

The cloud-powered organisations are likely to assess their cloud controls additional on a regular basis than non-cloud-run organisations.

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