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Cloud computing brings new level of risk management assessment

The increased use of cloud computing is giving companies more cause to have a comprehensive business continuity plan that accounts for online risks and cyber security threats.
The increased use of cloud computing is giving companies more cause to have a comprehensive business continuity plan that accounts for online risks and cyber security threats.

Remote accessibility to offices and online systems, like email, are becoming more popular in today's business world. Cloud computing is commonplace, but with increased accessibility could come a higher risk to companies. A comprehensive risk management assessment needs to account for cyber threats.

This blog has previously mentioned the increased importance for companies to keep cyber security threats as part of their business continuity planning process. With technology evolving more each day, organizations need to ensure that business resumption can happen as quickly as possible, whether a situation stems from an online issue or a natural disaster.

Rob Livingstone, author and former CIO, wrote a contribution piece for CFO.com, describing the importance of businesses – specifically owners and executives running companies – ensuring that they are fully aware of how cloud computing could impact their organizations. 

"At the technical level, there's nothing terribly mysterious about cloud computing," Livingston wrote. "At the end of the day, we're still talking about operating systems, software applications, and database systems running on IT infrastructure in data centers, supported by a mix of technologies and a daisy chain of IT providers."

According to Livingstone, staying educated and well-aware of the cloud's inner workings is key. For example, it's important to know if a vendor is having financial issues or where its funding is coming from – such as private equity versus joint venture.

Additionally, education is critical for the entire company. Business leaders need to understand the intricacies of how cloud computing could affect their organizations in the long run and from a financial standpoint, but all employees need to know how their personal impact could have an effect as well.

A comprehensive business continuity plan will ensure that all team members are educated in how best to keep a company safe and secure, even with increased technology and accessibility.