According to some very interesting findings in the PwC 2023 #Cloud Business Survey, as organisations continue to move to the cloud, some companies are benefiting more than others.
Seventy-eight per cent of corporate leaders surveyed stated that the cloud has been adopted in most or all aspects of their business. Simply adopting the cloud, however, is not enough for an organisation to be known as a "cloud-powered" company. Only 10% of organisations surveyed by PwC fit into the cloud-powered category. Cloud-powered companies have experienced more benefits, including improved decision-making, productivity, cyber posture, and cost savings. Moreover, 30% of leaders stated that their cloud investment spend has been somewhat wasted and has yet to reach its full potential.
In fact, only 10% of those surveyed claim to have realised substantial value from cloud adoption and have taken advantage of this adoption to reinvent their business. These ‘cloud-powered’ businesses tend to exhibit four characteristics:
The rewards of becoming a cloud-powered business can be substantial if done right, with expected revenue growth of 15% or greater despite the current business environment.
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