The problem with cheap cloud computing

At the recent X9 meeting, we were discussing cloud computing and how it might or might not be used securely by financial institutions. In this discussion, more than one person said that the single biggest problem with cloud computing is that it's so cheap.

The big problem seems to be that it actually costs so little to get going that even the lowest levels of managers can approve paying for it, and this means that it's often used more often than IT/security managers would like. And because it's fairly easy to disguise small cloud computing purchases by calling it something else on the procurement paperwork, it's essentially impossible to control it use by putting in place policies that control it.

Nobody had a good solution to this problem, but the concensus was that this problem isn't going to away any time soon. 

  • Hair regrowth

    This is in contrast to the “traditional” way of backing stuff up. Most people just buy external hard drives and do the backup themselves. Cloud computing means that we allow a company to do it for us via the internet.

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