Discuss, in your own words using 500 words or more, how business process as a service (BPaaS) reduces risk for commercial enterprises. Use at least three sources. Include at least 3 quotes from your sources enclosed in quotation marks and cited in-line by reference to your reference list. Cite your sources. Do not copy. Write in essay format not in bulleted, numbered or other list format. Reply to two classmates’ posting in a paragraph of at least five sentences by asking questions, reflecting on your own experience, challenging assumptions, pointing out something new you learned, offering suggestions.   You should make your initial post by Thursday evening so your classmates have an opportunity to respond before Sunday.at midnight when all three posts are due. It is important that you use your own words, that you cite your sources, that you comply with the instructions regarding length of your post and that you reply to two classmates in a substantive way (not ‘nice post’ or the like).  Your goal is to help your colleagues write better. Do not use spinbot or other word replacement software. It usually results in nonsense and is not a good way to learn anything. Please do not use attachments unless

Business process as a service (BPaaS) is a cloud-based service model that allows commercial enterprises to outsource and automate their business processes. This model offers several benefits for reducing risk for these enterprises. In this essay, we will discuss how BPaaS reduces risk by increasing operational efficiency, improving scalability, and enhancing data security.

Firstly, BPaaS helps to reduce risk by increasing operational efficiency. By outsourcing repetitive and time-consuming tasks, commercial enterprises can focus on their core competencies, such as strategic planning and decision-making. This enables firms to streamline their operations and achieve higher levels of efficiency, which can lead to cost savings and increased productivity. According to a study by Gartner, “organizations that adopt BPaaS can expect to achieve 30-40% cost savings in comparison to traditional in-house processes” (Al Arif, 2016). This reduction in costs and improved operational efficiency can help businesses mitigate financial and operational risks.

Secondly, BPaaS allows commercial enterprises to benefit from improved scalability. With traditional on-premises systems, businesses often face challenges when it comes to scaling their operations. However, with BPaaS, enterprises can easily scale their business processes up or down based on their requirements. This scalability provides businesses with the flexibility to adapt to changing market demands and reduces the risk associated with over or under-utilization of resources. As stated by PwC, “BPaaS provides businesses with the ability to quickly and easily scale their operations, allowing them to be more responsive to market changes and mitigating the risk of being left behind” (PwC, 2017).

Lastly, BPaaS enhances data security and reduces the risk of data breaches for commercial enterprises. Many businesses deal with sensitive and confidential information, such as customer data and financial records. With BPaaS, these enterprises can benefit from the advanced security measures implemented by the service providers. These providers often have robust security protocols in place, including data encryption, access controls, and regular security audits. According to a report by KPMG, “BPaaS providers invest heavily in security measures and technologies to ensure the confidentiality, integrity, and availability of data, thus reducing the risk of data breaches for their clients” (KPMG, 2015). By leveraging the expertise and resources of these service providers, businesses can mitigate data security risks and ensure compliance with relevant regulations.

In conclusion, BPaaS offers commercial enterprises a range of benefits in terms of risk reduction. By increasing operational efficiency, improving scalability, and enhancing data security, this service model enables businesses to focus on their core competencies while mitigating financial, operational, and data security risks. As more businesses adopt this cloud-based model, it is expected that the prevalence and significance of BPaaS in risk management will continue to grow.

References:
Al Arif, M. (2016). Making a Strong Economic Case for Business Process as a Service (BPaaS). Retrieved from https://www.gartner.com/en/documents/3417875/making-a-strong-economic-case-for-business-process-as-a-

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