The cloud's ability to provide scalability, efficiency, and flexibility has revolutionized how businesses do business. However, significant transformations require careful management. To find out the key to unlocking the full potential of the cloud in safeguarding digital assets using risk management, let's see this article until the end!

The risk landscape that companies must pay attention to in utilizing the cloud in business is as follows:

• Security Risk

Security concerns companies in storing data and running business operational systems. Data stored safely affects customer confidence and maintains the company's reputation. The security that must be considered when using the cloud includes data breaches and cyber-attacks. Strong cloud security is important for companies to maintain their business.

• Implementing Data Sovereignty

Data sovereignty refers to the concept that data is subject to the laws and governance of the country or region where it is collected, processed, and stored. It is the right of a country to regulate and control the data generated within its territory and borders. Not complying with data sovereignty laws can cause major problems, such as fines, legal action, reputational damage, etc. Therefore, companies need to choose a cloud service provider that has implemented data sovereignty.

• Business Operations

Operational risk can be associated with implementing services that are a business's mainstay. Today, migration to the cloud has brought a new approach called DevOps, where development and operations responsibilities are combined. This reduces implementation time to just days, weeks, or months. Business operations need to be considered and planned by risk management in the company to determine the implementation of information technology services and tasks, especially implementing the cloud in business.

The Conclusion

By comprehensively integrating the risk landscape that must be considered, companies can increase their ability to take full advantage of cloud technology while minimizing potential risks. It is important to review risk management regularly to adapt to evolving threats and changes in the business environment, especially in today's digital world.

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Source: Assets KMPG