Report: 78% of executives adopted cloud, but not all are seeing value
Business leaders today understand cloud’s critical role to help them achieve business goals. A new report from PwC found that 78% of leaders have adopted cloud in most or all parts of their business; however, only 10% are seeing the full impact.
Enterprises that are truly cloud-powered have realized the cloud’s full potential. Such cloud-powered organizations are reinventing their business through cloud, experiencing fewer barriers to reach its value and expect revenue growth of 15% or greater despite the current business environment.
The reports shows that companies seeking to reach cloud-powered status can focus on four data-backed steps:
Take a holistic approach
Cloud-powered companies are two times more likely to take a nonlinear cloud approach, meaning they can go from workload migration to asset modernization to cloud-native development. They are applying the method that makes the strongest business case for their goals and sticking with it.
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Collaborate across the C-suite
More than 85% of CIOs at cloud-powered companies report stronger alliances with members of the C-suite compared to CIOs at other companies. The report found that cloud-powered companies prioritize their relationships with Chief Human Resource Officers (CHROs) to help with hiring appropriate talent and providing adequate training.
Adopt a formal data strategy
Cloud-powered companies recognize data is at the heart of transformation efforts: 88% report having an enterprise-wide data strategy, compared to 59% of other companies. As a result, cloud-powered companies can develop a streamlined architecture that allows them to modernize data into an integrated view, create government structures and build the skills needed to become data-driven.
Keep trust at the core of cloud adoption
Embedding trust into cloud projects is key. Cloud-powered companies achieve this by considering the potential risks cloud could pose during all stages of transformation: 82% have dedicated cloud governance resources and 78% have formal and distinct cloud controls.
Most businesses today consider themselves to be “in the cloud,” but to really achieve cloud-powered status, organizations need to take a holistic approach to cloud adoption.
PwC surveyed 1,010 U.S. business executives for its 2023 Cloud Business Survey. Read the full report.