Managing the Benefits and Risks of Cloud Computing

 

Similar to “A Tale of Two Cities” by Charles Dickens where it was the best of times and the worst of times, the findings in Managing the Benefits and Risks of Cloud Computing reveal two very different outcome and utilization profiles for Cloud computing among organizations. The research uncovers the differences in benefits and risks that are being experienced by organization of very different sizes and outcomes, and what the best performers are doing very differently to manage more business value and less risk from the  uses of Cloud computing.

Best Performing Organizations

Best performing organizations are dominantly made up of larger organizations, with many of these organizations using Cloud computing. In comparison a large portion of the worst performing organizations are small businesses, most of which are not using Cloud computing. The major findings reveal very different Cloud computing usage profiles, business growth and risk outcomes, objectives and practices that include:

The Cloud Computing Profile of Best-in-Class Organizations shows:

  • · Revenue and profits that are much higher than average
  • · Business disruptions that are much lower than average
  • · Data loss or theft incidents that are much lower than average
  • · Audit deficiencies that are much lower than average
  • · Spending on IT that is 1.5 to 1.7 times higher than average
  • · Spending on information security that is 1.4 to 1.5 times higher than average
  • · Measurement and assessments of controls and risks occur at least weekly
  • · Reporting on the status of prioritized risks occurs at least weekly
  • · More involvement of IT, information security, legal counsel and internal audit
  • · Broader and larger numbers of IT and information security controls
  • · Focused on flexibility, agility and adaptability as the primary benefits of Cloud computing

Primary objectives and benefits of Cloud computing among small size firms and agencies focus on cost reductions for operating and capital expenses.  Among larger organizations, however, Cloud Computing is adopted to facilitate better IT service levels and greater flexibility, agility, adaptability of technology, as well as leveraging new technologies while reducing costs and increasing the speed of deployment.

To learn more, download the full report.

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