Since Cloud is basically your Data Center (in the Cloud) so Cloud Infrastructure Security is as important as your on-prem data center security.
Cloud Security & Governance refers to a set of standard polices and operations and by implementing those an enterprise can achieve a level of business optimization and mitigate any risk of running the enterprise apps in the cloud.
It is very important that your executive management is aligned with the security standards and aware of any risks involve in running apps in the cloud.
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