Risk governance for IT outsourcing
The board should work closely with management to prioritise and manage the company's high-risk IT vulnerabilities.
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
IN TODAY'S digital age, information technology (IT) is a significant, if not an integral, part of the operations of most companies. Many businesses outsource part or all of their IT to third- party providers.
The most common types of IT outsourcing are in systems development and maintenance, data centre operations, network administration, disaster recovery services, application hosting, and cloud computing. The outsource function can involve the provision of IT capabilities and facilities by a single third party or multiple vendors located in Singapore or abroad.
The decision to outsource is often one based on cost-benefit analysis, but the important questions around risks and risk management should not be ignored. Many outsourcing deals that go awry can be traced to insufficient consideration of risk mitigation.
Share with us your feedback on BT's products and services
TRENDING NOW
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
A new logic of China-Asean economic integration emerges from the Middle East conflict
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
