How to configure parallelism in Terraform Cloud

In my previous post I showed how to enable debug logs. Today I want to present how to improve terraform plan and terraform apply speed by configuring parallelism. Terraform by default runs 10 concurrent operations. To reduce execution time on plan or apply operation we can increase this parameter. By increasing parallelism you can hit the rate limit of your provider. Some cloud providers (like Cloudflare) inform about the number of API requests allowed in a period of time. Hitting the limit can impact your deployments.