In today’s globally connected business environment businesses are using Cloud based applications to store their data. But have you ever given a thought how secured that data is? Recent past reveals that data breaches or cyber attacks have cost businesses millions of dollars. Today here in this blog, we will discuss What is Cloud Security? and Why it is so vital for businesses?
Defining Cloud Security
Cloud security is a set of pre-defined policies, procedures and controls which work together for businesses using cloud based applications to protect their data, applications and infrastructure. These policies or procedures are defined for businesses to be regulatory compliant and protect consumer privacy. Depending upon the nature of the business, these policies are defined. It is the overall responsibility of the business owner and the solution provider to work in tandem while implementing cloud security. These security procedures can be configured according to the business needs and managed by IT teams thereby making it cost effective for the businesses to implement cloud security solutions. For keeping the business protected from unauthorized access, data breaches and other attacks it is necessary for selecting the cloud security solution that best fits the business needs. Having a holistic framework implemented protect business from known and new emerging threats and allowing business to leverage the benefits of cloud computing.
Importance of Cloud Security
It is important for businesses shifting to cloud computing to have a robust and a holistic framework for cloud security. In this globally connected business environment, threats are evolving exponentially and are getting more and more sophisticated. Having the best cloud security framework customized according to the business needs has many benefits, such as;
- Cloud computing centralizes the data and other intellectual property and managing these entities centrally streamline the monitoring and controlling the business network across various devices. Centralizing the security aspect also enable businesses to manage and update their security policies at one place.
- Another benefit of implementing Cloud Security and Storage is reduced cost. Businesses don’t need to spend on dedicated hardware for cloud based networks. Apart from saving cost, Cloud Security solutions also remove the administrative overhead freeing up your resources and providing proactive security 24/7 with no human intervention.
Risks associated with Cloud Computing
Let’s see some of the major risks that are faced by businesses due to lack of a robust and holistic cloud security framework. Some of them are related to weak cloud security solution which leads to data breaches due to unauthorized access.
- Businesses now-a-days store highly sensitive customer data over cloud, which make that highly vulnerable to data breaches and cyber attacks.
- Businesses operate under regulatory compliance and other mandates to control and protect the amount of data being held by them. In case of non-compliance businesses have to levy huge fines and also reputational damage which can have serious implications. Organizations need to know where their data is stored, who has the access to that data and in what ways the data is going to be used.
- Organizations rely heavily on the data being collected and stored by them on cloud such as market information, account details or any personal information of their customer. In case of a data breach, there are chances that the data might be altered and can adversely affect the reliability of the organization.
- In case of a data breach, customers associated with the organization may lose faith in it and can discontinue to use their services creating a sense of distrust among the customers. Weekend client trust can heavily impact the reputation of an organization.
Preventing data breach is all about being careful and continuously monitoring your security system and updating the organizational policies and procedures. Using the right cloud security application can make a big difference indicating any unusual activity. Businesses many a times fail to adapt new and emerging methodologies for cloud security. All that is required is a reliable and consistent security solution that can secure your data and provide businesses oversight on various risk factors through real time reporting.
With ConfidentG, an agile and intuitive framework you can now take your Risk, Compliance, Internal Audit, and Governance Processes to a whole new level of Efficiency and Effectiveness. ConfidentG platform is a set of comprehensive & integrated representation of Risks, Rules, Regulations, Policies & Governance.
Stay tuned for more informative posts on Cyber, Risk and Compliance Governance. Visit us at our Appexchange listing today at https://cglabs.us/cg_products and get confident with your Governance initiatives.