Some are expressing concerns about the security risks and perils related to compliance, availability and data integrity of using cloud based SaaS services. James Governor, summed it up nicely here, when promoting CloudCamp London by referring also in the title to Avoiding Monsters.
I’d argue that the services that will be first consumed through a SaaS mechanism will be transactions that do not offer a competitive advantage to that particular business. That is it just enables them to work more efficiently.
If so, what benefit will other organisations, or individuals, have with accessing information regarding these non competitive transactions?
Even if they did have a glimpse, that picture portrayed by that glimpse is only representative of that point in time and will quickly change to another picture.
What may be deemed competitive information, in this case, is the aggregate information of these transactions containing a dimension of time. Therefore with careful partitioning any potential security risks can be mitigated.
So avoid the FUD, as James said "Dangers and Perils – Here Be Dragons. Ah yes the beauty of FUD."