For some organizations, cloud computing can be a hard sell, even before you come to the question of how to handle cloud-computing security. Public cloud, private cloud, hybrid cloud, encryption, tokenization, data residency, privacy regulations – all are factors involved and the perceived effort can sometimes seem to overshadow the benefits. But just as cloud computing comes with a slew of demonstrated business benefits, so does effective cloud computing security. Included below are three specific benefits to implementing a cloud computing security system.
1. Regulatory compliance prevents costly fines.
One of the most common reasons enterprises have for investing in cloud computing security is, of course, regulatory compliance. Heavily regulated industries like finance and health care – industries that handle the most sensitive personal information – must remain in compliance with relevant regional, national, and international laws, as well as with industry-specific standards. Failure to do so can come with a high price. In fact, banks that fail to comply with the PCI DSS requirements, for example, may face fines of anywhere from $5,000 to $100,000 per month, costs that tend to get passed downstream, resulting in higher costs for all, according to the PCI Compliance Guide’s FAQ.