In 2022, 80% of companies surveyed acknowledged that they had experienced at least one cloud security incident. Then, in mid-2023, 94% of companies surveyed reported that they were using at least some type of cloud service.
The popularity of moving IT to the cloud is undisputed, and the pace of cloud adoption is daunting. However, as companies move more IT services to the cloud, questions are being raised as to whether companies are prepared to manage cloud risks in areas including cybersecurity, data handling, intellectual property protection and governance.
“There are risks, and indeed more than half the organizations have had issues in the past year,” said KPMG in an article. “Among them are IT delays, data loss, productivity loss, application outages, regulatory compliance violations, and diminished ability to provide services.”
None of these are casual events. A cloud failure, or a major security or data breach, such as the recent ZeroedIn breach, can shake the reputation and even the very survival of a company. Yet many businesses don’t list cloud as a risk management issue.
Just what are the common risk management issues that companies do monitor and plan for?
Most revolve around…
