Cloud technology offers many advantages to businesses, from faster deployment times to reduced capital costs. Organizations pay for the application only while they use it, while cloud technologies can offer increased reliability to help businesses manage growing online activity.
But new technology comes with risks. Many technology projects fail to deliver the anticipated results, and rising concerns about data privacy, security and operational integrity and the need to stay compliant with various regulations mean organizations have to be more diligent than ever about managing potential risks triggered by cloud transformation.
By addressing risks and controls ahead of your cloud implementation, you can meet your compliance obligations and achieve or potentially surpass your transformation goals.
When introducing a new system, the implementation team’s focus tends to be on launching it on time and on budget. Because the team many not include people who can help address compliance and controls issues, the organization may face reputational, operational and financial risks and decreased stakeholder trust.
Some organizations try to replicate the existing control framework from legacy environments, but this may fail to address new risks and may prevent them from making full use of the cloud technology.
Whether you’re looking at Oracle, SAP, Workday, Salesforce or other cloud technologies, we have experts who can help you address risk and control needs early on in your journey. Our globally connected local team has strong relationships with leading software providers and can help you successfully navigate transformational change.
We’ve made investments in proprietary tools that help drive the results you’re aiming for by finding, extracting, analyzing and reporting on the risks and controls of your systems. We can help you integrate governance and controls into the transformation life cycle—from technology selection to the post-implementation stage—and support continuous controls monitoring and compliance (CCM) while taking a broader view of the impact of your cloud transformation.
The risk function has an opportunity to help organizations achieve and even beat the goals they set out. To do that, it’s important to be proactive about risks and controls from the start. Organizations that take this approach can expect to see a number of benefits, including: