As organizations continue to move to the cloud, Some companies are more profitable than others, according to management consulting firm PwC. 2023 Cloud Business Survey.
The report found that 78% of corporate leaders surveyed by PwC have adopted the cloud in most or all aspects of their business. But simply adopting the cloud isn’t enough for an organization that PwC refers to as a “cloud-powered” company. Only 10% of organizations surveyed by PwC fit into the cloud-powered category. Better decision-making by so-called cloud-powered companies; Productivity Enjoy more benefits, including cyber posture and cost savings.
PwC’s research found that there are four key characteristics that define a cloud-powered organization.
- A completely unwavering approach to the cloud
- Collaboration from the C-suite
- official data; Analytics and AI strategy
- Focus on trust and control.
“Cloud-powered organizations are reinventing their business through the cloud, face fewer barriers to reaching its value, and expect to grow revenue by 15% or more despite the current business environment,” said Danielle Phaneuf, PwC. partner Cloud & Digital Strategy said ITPro today.
PwC 2023 Cloud Business Survey Detailed Cost Management Technology
Among the report’s findings is an analysis of how cloud-powered companies can improve cost management and cloud resources (sometimes referred to as FinOps) better than others.
Related: Beyond Rightsizing: When It Comes to Cloud Cost Optimization Think big.
More than 30% of cloud usage is wasted, Phaneuf says. On the contrary, Cloud-powered companies have instant access to performance data and their performance; Specially designed tools are used to continuously optimize consumption and utilization of resources.
In the survey, cloud-powered companies approach transformation as a team sport, and this team approach makes it easier to find and optimize cloud resources, she said.
“IT is no longer looking for shadow consumption, but the entire organization is incentivized to manage the cloud more effectively,” Phaneuf said. “Finally, cloud-powered companies typically offer payback services from the get-go, but most companies present the best, leaving their business users wondering where their spending is going.”
Challenges on the Road to Becoming a Cloud-Powered Organization
For organizations looking to become cloud-powered; There are a few challenges.
“The biggest hurdle facing non-cloud-powered companies is unifying their leadership behind the cloud,” Phaneuf said.
Related: How the Cloud Makes Computing Harder It’s not easy.
She noted that there are many reasons why leaders typically don’t fully embrace the cloud, and those reasons are especially difficult to overcome when there is risk or loss of control. In these non-cloud-powered companies; Fractured leaders also have fragmented approaches to data, which PwC sees as a key obstacle to the cloud, Phaneuf said. A PwC survey found that nearly 90% of cloud-powered companies have an enterprise data strategy.
While the ideal scenario is for an organization to be fully cloud-powered, There are still many benefits to being partially cloud-powered, Phaneuf said. including
- Better control
- cost Improves visibility into performance and resources.
- More leadership alignment.
Looking ahead, Phaneuf said PwC expects more businesses to be cloud-powered in the coming years, and that they will drive this change through adoption. Cloud by industry and sector.
“Finally, if economic uncertainty continues to increase, we expect companies to double down on their cloud investments to further improve their technology investments,” she said.
About the authorSean Michael Kerner, IT consultant; A tech enthusiast and tinkerer. He consults with industry and media organizations on technical matters.