Move to the Cloud: a New Strategy for Business Success?
Finance Leaders always have a feeling of apprehension towards adopting the cloud technology; they are always concerned about the data security, the reliability of cloud infrastructure, availability of applications and also the costs of implementing cloud-based technologies. But now, companies are rethinking their corporate strategies and positioning concerning their privacy, security, internal data, and systems. For those who haven’t adopted the technology yet, must go through some of the points mentioned below.
1. Executive Sponsorship
The first step in the business is to select an executive sponsor to lead the cloud transition project. The person must have expertise in this and should be technologically-savvy to understand and communicate well about cloud technology. They must consider the different aspects and needs for business units, its global ramifications, and long-term goals. Finally, considering everything, the person will now sign off the type of cloud platform and present the business at the forefront.
2. Cultural Shift
Shifting the culture of the company is one of the crucial steps. Embracing the cloud-enabled enterprise is something that all employees must live and breathe. Change is the only constant, and the employees have to go by this say and mold their mindset accordingly as this may involve changing the mission and vision statements of the enterprise entirely. This would further reflect a more innovative, futuristic and a cloud-centric approach.
3. Prioritize Privacy
Data privacy is critical and must be at the forefront of all cloud discussions with security and protection following that. Therefore, employing a Chief Information Security Officer is advisable as there is a lot of pressure for businesses worldwide to abide by compliance and data privacy issues. As per the analysts, the challenge isn’t the security of the cloud itself, but it is in the policies and technologies for protection and control of the technology.
Companies that are utilizing private or public clouds need to properly manage the controls used for the protection of the data. As audits are ongoing, data needs to be accessible, identifiable, and even redactable; any excuses for unknown data will not be entertained. AI-powered data intelligence will be necessary to meet regulations and maintain compliance.
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