Compliance in the multi-cloud era
By Bo Duim
When organizations started their migration to the cloud, their goal was to capture all cloud benefits, among which an estimated $3 trillion opportunity in EBITDA lift, according to a McKinsey report. The same report found that board members are faced with a number of specific challenges when it comes to engaging effectively on cloud. Among those challenges is failure to comply with legal and regulatory requirements. This poses a major problem to organizations, consequences of which, in terms of fines imposed by the authorities, can be far worse than the harm caused by operational risk loss events.
A good cloud governance and compliance program is fundamental to securing the business critical assets of an organization as it provides a broad approach to managing cyber risks and enables organizations to proactively meet their security and compliance objectives. Throughout this article we look at the four key actions boards can implement to ensure cloud governance and compliance for their organizations.
Implement a cloud governance framework
Boards should understand the critical importance of integrating cloud technology into the overall strategy of their organization. Guiding leadership teams in their exploration of how the cloud can support and advance business strategy is a key approach. Cloud’s agility and speed can enable businesses to experiment with new services, personalize customer experiences, and seize market opportunities. Boards need to comprehend that cloud computing offers flexibility and speed beyond just IT optimization. They can be used to test out innovative methods for personalizing client experiences, growing services, and exploiting undiscovered market potential. By weaving clouds into the fabric of their strategic planning, boards empower their organizations to stay competitive and innovative in a rapidly evolving digital landscape.
Communicate the framework to stakeholders
Boards should be aware of the significant security investments cloud providers make, which frequently go beyond internal resources. It is essential to promote security training updates and supervise risk-mitigation planning. Forward-thinking boards are now embracing cloud in their risk-assessment frameworks, recognizing that despite initial security concerns, cloud service providers (CSPs) invest heavily in security measures. To add value, boards must encourage management to update security training, integrate security into product strategy and technology development, and oversee the development of risk-mitigation plans. They should also guide discussions on data storage locations and regulatory compliance, positioning themselves as key drivers of secure cloud adoption.
Train employees on the framework
To fully harness the benefits of the cloud, organizations need to transform their operating models to be more agile and collaborative. Boards can play a key role by urging management to create plans for bringing on the best cloud talent and training current employees. Leadership, especially in IT, needs to have the skills necessary to adopt the cloud efficiently. A requirement for important leaders’ succession planning should include cloud expertise. Boards need to make sure there are strategies in place for finding and developing cloud talent and stress how crucial it is for business executives to understand how the cloud affects value and digital transformation. Boards can assure alignment with broader transformation goals and the organization’s long-term cloud capabilities by actively directing management to monitor and report on cloud talent development.
Monitor and evaluate the effectiveness of the framework
Cloud governance is an ongoing process requiring continuous monitoring and evaluation. The effectiveness of the framework’s implementation and its alignment with organizational goals should be evaluated by the board. Adjustments and improvements should be guided by key performance indicators (KPIs) assessing security incidents, compliance violations, and cost management. Additionally, boards must work with management to develop an effective economic model for cloud computing that balances short-term costs with long-term benefits. To ensure that stakeholders understand why the business is embracing cloud technology and its financial implications, clear and open communication is essential both internally and externally.
To address the data governance and compliance challenges, organizations require a robust solution that delivers end-to-end managed connectivity services that not only tackle security concerns but also bring support and expertise to align with regulatory obligations as well as being adaptable to the needs of individual business units or subsidiaries. With its focus on security and sovereignty, InterCloud’s centralized managed cloud connectivity platform offers a compelling solution for organizations seeking to extract the true value of the cloud. Benefits:
InterCloud’s solution offers neutrality in terms of connectivity, allowing customers to benefit from the best connectivity route rather than being limited to one underlay option. Traditional telco organizations usually provide their own infrastructure, which can lead to vendor lock-in. InterCloud’s neutrality provides flexibility and avoids dependency on a single provider.
InterCloud recognizes that connectivity requirements vary across global operations. Their unique ability to provide custom connectors to specific cloud providers and deliver the first-mile connection to customer premises allows for enhanced agility. This capability is essential for large enterprises that need to outsource end-to-end cloud connectivity effectively.
Many enterprises prioritize certainty and surety when it comes to connectivity. InterCloud offers an end-to-end Service Level Agreement (SLA) where they take care of data from the customer premises to the clouds. This managed service approach provides peace of mind to customers, eliminating the need for them to have a specific view of how connectivity should be delivered.
InterCloud’s centralized and managed connectivity approach offers significant benefits for enhancing governance and compliance in multi-cloud environments. Organizations may solve the complex problems of multi-cloud security in a comprehensive way by taking an end-to-end approach to cloud connectivity. The InterCloud advantage lies in its ability to provide a unified view and control over security policies, enabling consistent enforcement of measures across multiple cloud platforms. This ensures alignment with organizational policies and regulatory requirements, thereby maintaining consistency and control. The platform simplifies security policy management by removing the complexity associated with different security solutions.
Moreover, InterCloud’s global private backbone eliminates the need for data to traverse the public internet, enhancing resilience and safeguarding valuable information. Simplified multi-cloud connectivity is achieved through InterCloud’s consolidated approach, reducing complexity and improving overall network performance. The platform’s advanced threat detection and mitigation techniques, combined with enhanced visibility and control over multi-cloud environments, further bolster security posture. InterCloud’s managed end-to-end service ensures expert monitoring, tracking, and updates, offering a secure and efficient cloud connection that empowers organizations to focus on core business operations while leveraging InterCloud’s expertise.