Cloud risks outweigh benefits

Nearly half of IT professionals in the US say the risks of cloud computing overshadow its perceived benefits, reports CRN.

According to a survey from the Information Systems Audit and Control Association, cloud computing services are expected to experience dramatic growth, hitting $44.2 billion by 2013, outpacing traditional IT spending.

However, despite the rapid growth, IT professionals are apprehensive, as only 10% of surveyed respondents plan to move mission critical services to the cloud.

Belt-tightening at financial firms is motivating them to drive a governance, risk and compliance (GRC) approach to operational risk management, states Risk.net.

BWise claims the past year has been a challenging one for GRC vendors, investing in a bold concept that is fast evolving.

"Chief financial officers are now saying they want one tool or no tool," says Luc Brandts, founder and CTO of Netherlands-based GRC vendor BWise. "They want an integrated approach."

Information risk management solutions provider NextLabs has rolled out version 4.6 of its Enterprise Data Protection software suite that prevents data loss and protects information rights management, says Online PR News.

NextLabs Enterprise Data Protection suite also integrates application and device control and unified communications control.

Jon Oltsik, principal analyst at Enterprise Strategy Group, says: “The security industry is slowly waking up to an emerging market reality: large organisations don't want security point products; they want enterprise security technologies that align with corporate policies and business processes.”