A Matter of IT Trust
by Abacus Group, on Apr 15, 2014
Before a hedge fund signs on with an IT firm-cloud, network or otherwise-it must be certain the firm can handle any and all situations.
Traders Magazine, April 2014
When it comes to IT and the Operational Due Diligence (ODD) process, funds need to give a great deal of focus and consideration to a few topics in particular. Infrastructure providers will assure you that data is secure and accessible, but you need to ask the right questions before making the full transition to the cloud. This is where the value of a Due Diligence Questionnaire really lies.
The first, and perhaps most important, question in the ODD process pertains to data security. With many countries trying to hack data to gain access to people's intellectual property, as well as "hacktivists" and other individuals trying to make a statement by stealing and acquiring sensitive personal information, data security is of the utmost importance in today's business world. Though investors are becoming much more comfortable with the cloud as opposed to five years ago, many still make the assumption that data is safer residing physically on site.
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