Unlocking SaaS Potential: Revolutionizing Tech Adoption in India's Regulated Markets

Researchers from IIMs in Lucknow, Amritsar, and Kashipur have developed a framework to assist India's capital market and banking sectors in adopting Software-as-a-Service (SaaS) technologies. The research reveals obstacles like data security and compliance concerns and offers strategies to assess and manage associated risks.

In a progressive stride towards modernizing India's financial landscape, researchers from the Indian Institute of Management (IIM) branches in Lucknow, Amritsar, and Kashipur have unveiled an innovative framework to aid capital markets and banking sectors in adopting Software-as-a-Service (SaaS) technologies.

This cloud-based solution, widely employed internationally, faces slow adoption in India due to stringent regulatory concerns and data security issues. Professor Arunabha Mukhopadhyay, from IIM Lucknow, emphasizes that this research introduces a risk-based IT governance framework, facilitating organizations in evaluating and mitigating risks associated with cloud-based software.

The study, published in the Journal of Organisational Computing and Electronic Commerce, sheds light on the crucial role of leadership in regulated industries to manage risks effectively. The framework provides a model for determining risk tolerance and compliance levels, ensuring informed decision-making for SaaS adoption in highly regulated environments.

(With inputs from agencies.)