Cloud Barriers Cause Competitive Disadvantages

By Dennis McCafferty  |  Posted 12-02-2014 Email

While nearly all CIOs and CFOs surveyed said that cloud applications and infrastructure are critical for delivering digital information, most of them admitted that their organization isn't investing enough in these technologies, according to a recent survey from Canopy. As a result, an overwhelming majority of these executives fear that their company will become uncompetitive as early as next year. In fact, three-quarters of the CFOs queried said their company is missing out on revenue opportunities by not having the right cloud apps and infrastructure in place, estimating that they lost an average of $84 million last year as a result. Inevitably, executives are finding that IT tools are slow, inadequate and/or too outdated to keep up with the pace of business. "Digital must be in the DNA of every department to help the business take market share and maximize revenue," says Jacques Pommeraud, CEO of Canopy. "We see that those who are emerging as winners are taking advantage of digital capabilities and innovation to build entirely new revenue streams. [Cloud computing] has the power to create revenue by making the customer journey effortless across any device, [enabling] faster customer sign-ups so they'll spend sooner and support real-time analytics to make more accurate targeting decisions." A total of 950 global CIOs, CFOs and business decision-makers took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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