Cloud Services: End to End Encryption in the Retail Industry
By Enterprise Security Magazine | Thursday, March 28, 2019
In the current business world, everything is being transformed at rocket speed and so the requirements and the necessities of the enterprises which are trying their best to keep pace with this real change and to be a part of it. A rapid and flexible process of data can contribute more to the success of retail enterprises. As cloud technology is cost-effective and with minimum risk, it optimally provides information on products, customers, and processes all the time. And, this is the most effective way to process the data. Of course, the retailers are not entirely aware of opportunities and possibilities that this technology is providing. The retail operators even lack the knowledge about in what ways they can be shifted to cloud security technologies.
And now, due to high gossip and retailers' interest toward cloud technology, they are now very familiar with the reasons for shifting their networks to the cloud. According to the Thales eSecurity report, the shift of retail operators to the cloud technologies continues apace with 85 per cent of U.S. retailers is now backing up their sensitive data in the cloud platforms like Infrastructure as a Service (IaaS), Platform as a service (PaaS), or Software as a Service (SaaS). They are experiencing a culture shift as they respond to the customer demand for enhanced experiences online and in the store. Developing applications and shifting PCI-regulated workloads to Google cloud platform (GCP) and for sometimes even to Amazon Web Services (AWS) facilitates an attractive way to tackle and respond to competitive pressures, rapid innovations, and resilience. Moreover, the self-service and dynamic nature of the software-defined cloud infrastructure brings unique challenges for risk and compliance professionals in the retail sector.
With the help of cloud services, retail operators can mitigate high capital expenditures as they can make monthly payments for what they use. With limited monetary expenses, retail operators can make use of the opportunity to test the new solutions with relatively low risk. This escalates both agility and flexibility in the core business and favours in the quick launch and implementation of innovative business models and processes
By installing the security measures into a coherent cloud security strategy, retailers can gain the benefits of cloud-centric commerce and can be confident that their network, IT assets, and customers are protected. Enterprises should have the ability to frame specific security policies for every data class level to prioritise the security resources and allocate them accordingly with the enterprise necessities. To utilise the complete advantages of cloud technology retail enterprises must ensure that they have defined cloud governance, risk management, and compliance (GRC) policies.
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