Cloud Computing has become one of the most inevitable turnkey technologies across various industry sectors. However, along with the advantages and business benefits come complications related to legal and regulatory aspects. In continuation to the series on Cloud Computing for India Inc., Lex Witness jointly with Microsoft successfully completed the debut edition on Compliance in Bengaluru last month. Here’s a brief overview of the event.
India Inc. is all geared up towards making Digital India a dream come true. Virtually, all business sectors today are poised to bring in the best of technological benchmarks to keep pace with the dynamic customer expectations and the cut throat competition that exists today. Amongst many others, Cloud Computing is one of the top of the check points today. It not only brings down infrastructure costs but empowers business functions with advantages like flexibility, agility and much more.
Compliance has always been critical to the success, sustainability and reputational equity of a business, and this is perhaps truer now than ever before. Growing global competition, changing demographics, regulatory enforcement and rapidly shifting customer expectations are demanding that executives continually rethink the ways of running a compliant and clean business. Agile businesses leverage digital technology to deal with such challenges and expectations. Cloud-powered digital transformation brings down infrastructure costs while empowering businesses with greater flexibility and agility.
The in-house Counsel, Risk and Compliance professional community have the responsibility to assess relevant legal, regulatory, security and compliance issues associated with cloud-powered digital transformation. It is imperative for businesses to adequately understand issues around data confidentiality, privacy, data security, compliance, audit, data breach, regulatory approvals and service evel agreements. With the above context, this round table discussion aimed at fostering engaged deliberations around the opportunities, challenges and imperatives involved in cloud-powered digital transformation for compliance.
The event was a closed door and an invitation based one. It gathered attendance from both legal and information security profiles from various organizations – government, psus, indian entities and multinationals. It commenced with a Welcome Note by Wibe Spekking, Compliance Director, Microsoft Western Europe on the importance of compliance and cloud as an enabler of compliance. It was quite insightful to have a global perspective on the subject as such.
This was followed by the Keynote Address – A General Counsel’s Walk in The Cloud – Concerns, Challenges, Efficiency Vs. Compromise on Privacy, Data Localization, Cloud Security Breach & More by A. Sivaram Nair EVP, CS, General Counsel, Global Ethics & Compliance Officer, Mphasis. The session was an eye opener for the in house audience as it have a general counsel’s perspective on what Cloud has on offer as far being compliant is concerned.
The next session i.e. – Busting Myths – Enabling Regulatory Compliance through Cloud was co chaired by Sudhir Singh, Digital Leader, PwC and Manpreet Singh Ahuja, Partner Risk & Compliance, PwC.
And finally the power packed day was concluded by a very interactive session and Workshop on Cloud where the focus was on Introduction to Compliance in Microsoft – Data driven, tools enabled and on the Cloud, Industry Trends, Challenges & Best Practices.
This was led by Mrigank Sharma, Senior Attorney, Corporate, External & Legal Affairs, Microsoft and Radha Abrol, Controls & Compliance Lead at Microsoft Corporation India Pvt. Ltd. and Shyam Dhanuka from Controls and Compliance, Microsoft India. The gathering had a gala time during the dinner cocktails networking session where they briefly discussed the critical learnings that they had from the day.
www.grandmasters.in | 8 Years & Counting
www.rcls.in | 8 Years & Counting
www.itlegalsummit.com | 8 Years & Counting
www.bfls.in | 8 Years & Counting
www.maels.in | 8 Years & Counting
www.plcs.co.in | 8 Years & Counting
Copyright © 2020 Lex Witness - India's 1st Magazine on Legal & Corporate Affairs Rights of Admission Reserved
