The ability of software as a service (SaaS) products to deliver lower ownership costs, a high return on investment, better efficiency and pay-as-you-go services are tempting many companies to make the switch, a new survey has revealed.
ISACA has announced the results of its first Oceania IT Risk/Reward Barometer research project, which looked at business' perceptions of cloud computing.
According to the study, many IT professionals remain wary about entrusting information to a third party vendor.
Ria Lucas, international vice president of ISACA, explained that the move to SaaS was a significant change for companies to undertake.
"It is not surprising that IT and business professionals feel there could be a number of potential risks in entrusting information to the cloud," Ms Lucas said.
"However, the advantages of speed, cost, flexibility and access to high value services will drive the business demand for cloud services, as the rewards have the potential to outweigh the risk."
In an interview with Silicon.com, Mark Andrews, head of IT at Park Cakes, said that security concerns should be manageable if businesses take the right steps to tighten controls.
Posted by Rachel Wheeler