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Risk Management Week 4 - Essay Example

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The concept of outsourcing is of great significance in the current business world because top companies consider outsourcing as a good option to…
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Risk Management Week 4
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Download file to see previous pages However, business enterprises must be aware of possible risk factors in respect to data integrity, data availability, and data disposal while outsourcing data storage to external providers. Service providers need to manage the data of several businesses, and hence they might host all these data on the same storage server. Under this circumstance, the organization must ensure that its data are not mixed with others’ data and are separated by the application of proper virtualization software so as to enhance data integrity. As Kaur (2007) points out, timely data availability often becomes a challenge while outsourcing data storage to external parties. In order to address this issue, the organization must clearly prioritize its data availability requirements so that the service provider can properly place the data on the server (p. 110). Finally, in order to improve data security business houses must make sure that external service providers no longer store the unwanted or expired data.
When hiring an enterprise service provider for processing information system applications including payroll, workforce management, and sales order taking, organizations actually put a part of their operations in the hands of someone else. If the service provider is not trustworthy, this business practice will dreadfully affect even the survival of the firm. There are many rules and regulations governing the operations of enterprise service providers. Therefore, prior to contracting out a business function, a firm must ensure that the chosen service provider strictly adheres to such rules and regulations. In addition, it is good for companies to choose enterprise service providers who have a strong reputation for their previous business dealings. Experts suggest that an extensive research would assist firms to identify a reliable service provider in this ...Download file to see next pagesRead More
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