Assessing business risks of cloud computing

While Data security and privacy consistently rank among top concerns for business leaders considering the Cloud there are other risks as well. And yet, we believe that while the concerns are certainly valid and relevant, they are manageable.

Security and privacy — data integration and ownership concerns persist. These concerns need to be addressed for the protection of intellectual property, employee, customer, and partner information.

Governance — without oversight business leaders will be able to create shadow IT components or entire organizations. And within IT there are fewer barriers to creating unapproved environments.

Competition — enables start-ups to avoid most of the hazards of building a technology foundation accelerating the rise from start-up to stalwart.

Regulatory — ensuring compliance with the myriad of rules including SOX, HIPAA, PCI and others while taking advantage of the economic model.

Bandwidth — network bandwidth is the most important component of the model without which the model is an illiquid asset.

Staff — cloud expertise will be difficult to keep as more companies jump on the bandwagon and want to profit from the price paid by early adopters.

What are the risks and challenges with cloud computing?