As organizations increasingly navigate the digital landscape, making smart choices about where they invest their resources is crucial for success. When it comes to technology, especially the cloud, Return on Investment (ROI) is like a compass guiding their decisions. It’s not just about numbers; it’s about making choices that help organizations thrive in a fast-changing landscape.
As the digital landscape is always shifting, embracing cloud solutions is a way for modern organizations to stay agile and competitive. The ROI on cloud investments is more than just a financial metric; it’s a key factor in how they can build resilience and stay ahead in the industry.
To this effect, a recently released “2023 Global Cloud Ecosystem” report, a collaborative effort between MIT Technology Review Insights and Infosys Cobalt, provides a comprehensive analysis based on in-depth secondary research, interviews with global experts on the cloud economy, and a survey of 400 C-suite executives.
The survey reveals a global trend characterized by two distinct stages of cloud maturity. In the initial stage, companies embrace the cloud primarily to attain fundamental operational and capital expenditure cost reductions. The second stage witnesses a shift, with organizations aligning their cloud investments more closely with generating positive business value. Interestingly, survey respondents highlight a rapid convergence between these two stages, indicating a swift and dynamic evolution in the global landscape of cloud adoption.
Read on to learn more interesting findings:
1. 66% of respondents see positive ROI
The cloud has proven instrumental in enhancing global companies’ top and bottom lines, with over 80% of survey respondents reporting improved cost efficiency due to cloud deployment. An impressive 82% are actively tracking their return on investment (ROI), and 66% report positive ROI from their cloud investments over the past two years.
2. Data governance implementation is challenging
While cloud-centric organizations express a strong expectation for robust data governance, the report notes challenges in implementation. Varied perceptions of national data sovereignty and privacy frameworks underscore the absence of global standards. While most respondents refrain from labeling their countries as leaders, over two-thirds claim they are keeping pace in this crucial area.
3. Zero-Trust for cybersecurity is gaining importance
Public and hybrid cloud assets present cybersecurity concerns, but they are deemed essential for the growth of AI and automation. Acknowledging the risks associated with AI, zero-trust user paradigm has gained widespread acceptance across industries, with around 86% of respondents embracing this approach.
4. 54% of respondents use cloud for sustainability
The scalability of the cloud enables compliance, including security, privacy and environmental, social and governance (ESG) considerations. Over half of the respondents (54%) use cloud tools for ESG reporting and compliance, while 51 % leverage the cloud to enhance diversity, equity and inclusion compliance. However, the report notes room for improvement in addressing carbon emissions across various scopes.
Anant Adya, Executive Vice President and Serving Offering Head at Infosys, highlights the transformative potential of cloud technology. He states, “Cloud has demonstrated a clear ability to impact the bottom line, and organizations globally are committed to next-gen technology development strategies that are powered by cloud.” Adya further highlights Infosys Cobalt’s commitment to harnessing cloud technology to address industry challenges related to growth, costs and innovation.
The report serves as a valuable resource for decision-makers navigating the dynamic landscape of cloud technology.
Image credit: Freepik
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