According to research recently released by Accenture, only 37 percent of companies are achieving the full value of their cloud investments. This information comes from the Sky High Hopes: Navigating the Barriers to Maximizing Cloud Value report, which surveyed senior business and IT executives from companies around the world on business goals for adopting cloud and whether or not those goals were met. The survey showed that businesses continue to struggle with finding maximum value from cloud investments at the same rates as they did two years ago.
When Accenture conducted a survey in 2018 that asked similar questions, 35 percent of respondents answered that they achieved the full value from their cloud investments. In 2020, that number only increased slightly, as 37 percent answered the same in the latest report. In addition, the percentage of those who were “very satisfied” with their cloud outcomes rose from 44 percent to only 45 percent, signifying a widespread gap in addressing cloud business value concerns.
As one would expect, high adopters of cloud reported better average results with their cloud investments (46 percent stating they had fully achieved benefits) than moderate adopters (36 percent) and low adopters (28 percent). However, Accenture noted that this does not indicate a large value of success with high adopters, as more than half still report that they haven’t achieved the anticipated results from their cloud investments.
In a press release, Accenture Cloud First global lead Karthik Narain stated: “Cloud-based transformation offers companies the most powerful way to reinvent their businesses, unleash the expertise and creativity of their people, enhance their sustainability efforts and create new stakeholder value. But the reality is that not every company is unlocking the full potential value of the cloud. In fact, our newest report shows a surprisingly small two-year improvement in returns on corporate cloud initiatives, suggesting that a more thoughtful and holistic approach is needed. Competing in the age of COVID-19 and beyond requires that companies implement a cloud-first strategy, in which every element of their business leverages the power of the cloud, right now.”
Download your copy of the Sky High Hopes: Navigating the Barriers to Maximizing Cloud Value report here.
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