In this paper, we will discuss the benefits and risks of using cloud computing in knowledge management systems. Developing in the cloud enables users to get their applications to market quickly. There are may laws and regulations that companies need to comply with during mergers and acquisitions. Data protection technology risks to mitigate risks introduced by the cloud to evaluate efficiency of controls related to the cloud to continuously improve internal process, procedures and tools. Cloud computing is a boon to small businesses and organizations. Cloud computing is a model for enabling convenient, ondemand network access to a shared pool of configurable computing resources e. Cloud computing gaining the benefits, avoiding the risks. Cloud computing security benefits, risks and recommendations. Benefits and risks of the cloud network management group, inc.
Therefore the same amount of investment in security buys better protection. What are the risks associated with mergers and acquisitions. The cloud has become home to a host of applications including computer backup solutions, document sharing sites and, of course, billing software for. Oct 23, 2015 cloud computing is letting businesses slash time to market for new products and services and respond quickly to competitors and market shifts. Benefits and risks, page 4 government information systems are not all the same. Only by understanding the dangers can you confidently adopt this new technology.
Cloud computing is letting businesses slash time to market for new products and services and respond quickly to competitors and market shifts. Cloud computing like any concept in the real world comes with risks and rewards. Understanding the risks and benefits of cloud computing covi. Cloudtweaks the risks and rewards of cloud computing.
Cloud computing benefits and risks president, isaca china hong kong michael yung 2. Cloudbased applications and data are accessible from virtually any internetconnected device. Mar 17, 2016 growth is over 100% for the past five years. Enisa, supported by a group of subject matter expert comprising representatives from industries, academia and governmental organizations, has conducted, in the context of the emerging and future risk framework project, an risks assessment on cloud computing business model and. However, while moving to the cloud offers a number of benefits to businesses, many have concerns regarding security. However, while cloud computing provides many benefits, at the same time, it introduces major risks on several crucial fronts that need to be governed and managed by user organizations. Risks include dependence on the security practices and assurances of a vendor, dependency on the vendor, and concerns related to sharing of computing resources. In the short white paper, we revisit the benefits and drawbacks of cloud computing, look at it. First, lets have some basic understanding of these technologies. Computing services ranging from data storage and processing to software, such as email handling, are now available instantly, commitmentfree and ondemand. Available research suggests that we do not fully understand cloud computing risks.
They dont have to deploy physical infrastructure like servers, storage systems or expensive software. From a risk perspective, there is some gradient across the different service models, but the deployment model is where the risks vary widely. Industry experts believe that this trend will only continue to grow and develop even further in the coming few years. Pdf cloud computing is a set of it services that are provided to a customer over a network on a leased basis and with the ability to scale up or down. Identifying benefits and risks associated with utilizing. Cloud computing for business white paper building roi for cloud computing. Technology spotlight provides an overview of the benefits, issues and risk mitigation strategies for companies using this increasingly popular. November 09 benefits, risks and recommendations for. Cloud computing benefits, risks and recommendations for information security 4 executive summary cloud computing is a new way of delivering computing resources, not a new technology. Not all hold classified national security information, but most do contain sensitive data. In this paper, we aim to discuss the benefits and risks of using cloud computing in knowledge management systems. Traditional clientserver computing, enterprise computing and mainframes are expensive to maintain. Cloud computing promises substantial benefits for small, medium and large organizations. You can choose to use public cloud offerings or build your own private cloud starting with your own computer network.
May 08, 20 the benefits and risks of cloud computing. Hardware failures do not result in data loss because of networked backups. While cloud computing is undoubtedly beneficial for midsize to large companies, it is not without its downsides, especially for smaller businesses. Cloud computing brings many benefits and some inherent risks to gaming organizations. There are notable benefits when collaboration is needed or when work needs to be performed outside of your office. Cloud computing is here and virtually every organization is using it in some way, shape, or form.
Realizing those benefits will require a focus on new application development challenges as well as the use of new programming models and practices. Auditing cloud computing in five relevant areas 8 why auditing cloud computing on a periodic basis. References are provided to additional sources of information on cloud computing. Cloud computing liberates organizations to deliver it services as never before. Oct 30, 2014 enisa, supported by a group of subject matter expert comprising representatives from industries, academia and governmental organizations, has conducted, in the context of the emerging and future risk framework project, an risks assessment on cloud computing business model and technologies. Cloud computing is perceived as one of the key technologies of the 21st century. So far, there is not a universal definition that gives a complete and. The benefits of the cloud are tremendous and impossible to ignoreto do so could put an organization at. The steady growth in cloud computing services reflects the speed with which companies are moving. It is not a perfect solution where huge mistakes are forgiven without great consequences.
Benefits of cloud computing services and the risks. The bulletin summarizes the publication, and covers the characteristics of cloud computing, the factors to be considered in the deployment of cloud computing, and open issues that may impact future organizational decisions concerning the deployment of cloud computing. Virtual private cloud, encryption and api keys help keep data secure. The reminder of this article is organized as follows. Cloud computing benefits, risks and recommendations for. While cloud computing is now considered mainstream, the message is still cautious but pragmatic in that the concerns that prevented many from taking the leap are changing into demands for more secure services. While the cloud brings many benefits, many it providers are aware of the risks in cloud computing and are charging ahead anyway. The organization may lose many employees during a merger. Cloud computing for business white paper understanding cloud risk. By increasing the usage of computing as an important initiative, nowadays it can see as. Benefits, risks and recommendations for information security fullsize image.
Cloud computing for business white paper establishing your cloud vision. There are numerous advantages of cloud computing driving a secular move to the cloud. Lets look at the opportunities presented by cloud computing, managing the risks associated with. Cloud computing can bring efficiency and mobility to your legal practice but it can also expose you to new risks. As the value of data increases, the benefits of the cloud conversely goes down. Nov 24, 2016 the past decade has seen an explosion in the popularity of cloud computing and cloud based storage solutions with consumers and businesses. Benefits of cloud computing services the main benefits of cloud computing services are closed related with its essential characteristic abstraction, virtualization, scalability, computing as a utility, etc. Enisa the european network and information security agency released a new report on cloud computing benefits, risks and recommendations for information security. Cloud computing benefits since computing emerged and found its significant role in business competitive, the penetration of computing within organizations increased dramatically. Balancing the benefits and risks of cloud computing. In all honesty, cloud computing could actually make or break a company, depending on how they implement it.
Cloud computing is now evolving like never before, with companies of all shapes and sizes adapting to this new technology. Jun 27, 2012 the bulletin summarizes the publication, and covers the characteristics of cloud computing, the factors to be considered in the deployment of cloud computing, and open issues that may impact future organizational decisions concerning the deployment of cloud computing. By increasing the usage of computing as an important initiative, nowadays it can see as a must to use. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Recognizing the benefits requires proper risk assessment b. Inability to assess the value of its employees leads to companies firing the wrong people. Here are some of the ways that cloud computing addresses the pain points of todays it environment.
Sep 01, 2014 cloud computing can bring efficiency and mobility to your legal practice but it can also expose you to new risks. Cloud computing for business white paper why cloud. This technology has a major potential to bring numerous benefits, however, it faces risks in terms of unintended economic and security impacts. Cloud service providers sell computer hardware and software as a service over the internet. As much as there are many benefits of cloud computing, cloud adoption also brings in various risks and challenges. Cloud based applications and data are accessible from virtually any internetconnected device. Benefits of cloud computing services and the risks security needs to be high on the agenda when organisations head for the cloud.
The value tradeoff diagram illustrates the challenge of cloud computing. Cloud computing presents a new model for it service delivery and it typically involves overanetwork, ondemand, selfservice access, which is dynamically scalable and elastic, utilising pools of often virtualized resources. The motivation for writing this paper is to consider the business benefits generated from utilizing cloud computing in a range of organizations. Educating yourself and your people on the opportunities and risks associated with this technology is of the utmost importance. The major contribution of the paper is to provide a unique insight into how organizations derive value from cloud computing investments. Benefits and risks of cloud computing introduction more organizations are choosing to use cloud computing. Computing services ranging from data storage and processing to software, such as email handling, are. Benefits, risks and recommendations for information security will cover some the most relevant information security implications of cloud computing from the technical, policy and legal perspective. Cloud computing paradigm is becoming more and more popular, due to the vast decrease in time, cost and effort for meeting software development needs.
This chart from an informationweek and dark reading survey shows the top cloud computing risks that concern it professionals. But to deliver the benefits promised, cloud service providers must assure tenants their workloads are running on trusted platforms and provide the visibility and control they need for business continuity. Benefits of using cloud computing in knowledge management systems. Cloud computing, using the internet for information processing and storage, offers businesses a flexible, costeffective way to purchase hardware, software and communications capacity.
It is wise to reflect on the benefits and the risks of cloud technologies before choosing one strategy over another. This book provides an overview of the background, benefits, and risks of cloud computing and government usage. Research conducted across europe, the middle east and africa emea by isaca has found that a quarter of enterprises that already use cloud computing believe that the risks outweigh the benefits. With cloud services handling specific technology tasks, small organizations can reap the benefits.