HP Financial Services
One step ahead
Cloud brings with it the promise of significant benefit to organizations, but it's not without risks. To fully realize the benefits, CFOs must evaluate the potential risks with an investment in cloud and the tradeoffs associated with inaction. The potential for Shadow IT that can come from inaction may lead to additional security, risk and costs an organization is trying to avoid. Finding the right cloud investment balance can help reduce the proliferation of Shadow IT and drive organizational benefits.
The three main areas to be considered are:
- Governance and compliance
- Data security
- Vendor reliability
Shadow IT Fast Facts
- 15-30% of the IT spending is done without CFO control or knowledge1
- 54% of organizations do not know how many cloud computing projects may be underway in their business2
- 58% of respondents in a recent IDC survey indicated increased risk stemming from corporate information being placed in unapproved cloud environments2
- Unmanaged environments. Forrester survey showed 58% of respondents were running mission-critical workloads today in the unmanaged public cloud, regardless of policy3
1 “Pitfalls and Perils of Risky Shadow IT” Finance Tech News 2012
2 IDC Changing IT Budgets CIO Study Finance Tech News 2013
3 CIO’s Love-Hate Relationship with the Cloud Revealed, March 2012. Forbes2012
Financing and service offerings available through Hewlett-Packard Financial Services Company and its subsidiaries and affiliates (collectively HPFSC) in certain countries and is subject to credit approval and execution of standard HPFSC documentation. Rates and terms are based on customer’s credit rating, offering types, services and/or equipment type and options. Not all customers may qualify. Not all services or offers are available in all countries. Other restrictions may apply. HPFSC reserves the right to change or cancel this program at any time without notice.
Gartner: Key Risks to Consider
Gartner VP, David Cearly, discusses the risks of cloud computing and considerations for a CFO.