As the Covid-19 pandemic impacts businesses worldwide, it’s creating tremendous opportunities too. Digital transformation fueled by Covid-19 pandemic-led organizations globally! Organizations are transitioning to remote ways of working, with public cloud services to leverage greater efficiency at a reduced cost. Next-generation business solutions on the cloud are becoming the foundational part of strategy for the CXOs and executives worldwide.
With these digital cloud transformation opportunities comes the imminent threats. Accelerated digitization results in an increased threat outlook, and the cloud is one of the leading threat vectors for organizations worldwide. Executives worldwide recognize these threats and the immediate need to de-risk cloud adoption.
Here are the critical situations which keep CXOs and Executives awake:
1. Evolving Regulatory Landscape
Continuously evolving regulatory landscape and complexities on the multitude of guidelines and notices. As more and more regulations are being enforced across various regions, catching up and being compliant forms the key business enabler.
2. Lack of Data Control
Concerns over the lack of data control in the cloud infrastructure, with multi-tenancy in the cloud. Data remains the prime DNA for businesses worldwide, and having it under control is an absolute necessity. Furthermore, with evolving applications landscapes and AI being the CenterPoint for automation, access to data becomes imminent. That also creates the urgent need for data controls and makes it breach-proof.
Source: IBM security report 2021
3. Threat Vectors Complexities
Exponential evolution in cloud cyberspace and the ever-increasing complexity of threat vectors make it difficult for organizations to ensure security. The business reputation is at stake. More and more organizations are getting hit by the threat vector complexities.
Brands most targeted by phishing attacks
Source: ASEAN CYBERTHREAT ASSESSMENT 2021, Interpol
4. Shared Responsibility Understanding
A proper understanding of shared responsibility and third-party management to ensure the management of people, processes, and technological aspects of cloud operations is essential to be efficient and productive.
With our presence worldwide, we listen to our customers and are all set to de-risk businesses and organizations. However, we recognize the need for a framework to reimagine business strategies, manage governance and mitigate the risks arising from the security threats, hence de-risking the cloud adoption.
The Cloud Shield offering is built on the foundation of Risk & Control measures encompassing the organization’s Cloud transformation journey through Pre-Adoption, Adoption, and Post Adoption.
Stay tuned for our Cloud Shield offering, which will help de-risk cloud adoption with crucial business benefits.
Ajit is a Senior Principal Consultant with over 18 years of experience in strategic business transformation, strategic data migration & decommissioning, vendor management, change management, business and strategy development, and project management.
An analyst with extensive experience in project management, data analytics, financial and management accounting.