Cloud growing in importance to businesses, survey finds

Many people have embraced the tools the cloud offers, from cloud-based CRM to time tracking software, and have seen the productivity spikes the technology allows. Yet to see it quantified in one recent study is still impressive.

A huge growth
It’s certainly expected that those who move in to the cloud and embrace its flexibility and agility would be seeing a spike in earnings, but one recent IBM survey quantifies just how much – and it’s a very significant number. According to the survey, companies that have high cloud adoption see almost twice as much in revenue growth and 2.5 times higher gross profit than comparable peers who have ignored the benefits of the cloud.

As such, more and more executives are adopting the cloud at a hugely increasing rate. The survey found that the importance of the cloud to CEOs, CMOs, finance, HR and procurement executives more than doubled, from 34 percent to 72 percent. That’s even higher than IT workers, who valued its strategic importance at a bit under 60 percent. Increasingly, it means that companies looking to invest are demanding that businesses they consider fully capitalize on the cloud, according to Mike Grandinetti, Managing Director at Southboro Capital.

“We see cloud computing as the next frontier for major investments,” said Grandinetti. “Businesses that capitalize on cloud capabilities can go well beyond launching a product to actually expanding their business model and targeting new markets and new buyers. The cloud is making the start-up business model more accessible to people with smaller budgets while transforming the level of productivity and accelerating innovation — keys for VCs working to decide where to place their next big bets.”

Educational possibilities grow
It’s becoming essential for students, too, the survey found. In London, for instance, the Metropolitan College has begun to implement a cloud solution for students to improve their academic skills, according to Computer Weekly. This is increasingly an important aspect of education, according to Dave Garrison, Program Director of MS in Information Technology at St. Mary’s University.

“Fostering a new generation of talent with the right set of technical expertise is paramount to enabling our students to succeed,” he said. “The emergence of cloud computing is very relevant for our students because they grew up with the Internet of Things.”

From school to business, the cloud is an increasingly important technology. If your company is looking to make the jump, BMI Cloud Solutions is ready to help with award-winning programs such as NetSuite and OpenAir.