Next Pathway: Companies Are Expanding IT Budgets for Cloud Migration

According to research recently conducted by Next Pathway, 85 percent of companies are expanding their IT budgets to prioritize cloud migration. Next Pathway conducted a poll where they asked nearly 1,000 IT decision-makers on their status in the cloud migration process. The company found that many businesses are still in the early stages of cloud migration, but increasing their migration spending to accelerate the process.

Next Pathway’s survey found that 85 percent of companies are planning to increase their IT budgets for 2021 and listed cloud migration as a priority. Additionally, 65 percent of companies indicate the initiative is one of three areas of technology to emphasize in 2021. Decision-makers stated that migrating their data warehouse to the cloud is the most important initiative in the new year.

Less than 18 percent of respondents to the survey have begun their first cloud migration project, and less than 13 percent have begun to migrate any of their applications to the cloud. However, 94 percent agree that migrations to the cloud happen over months or potentially years. This suggests that while cloud migration is still a relatively new concept and practice for companies, businesses are aware of the commitment that they need to see cloud migration through.

In the company’s press release, Next Pathway’s CEO Chetan Mathur stated: “Companies recognize that it’s critical to migrate their data to the cloud – the study found that close to 80% of companies trust their applications and data on the cloud more than on-prem. But many have yet to begin their migration journey, due to the complexity of moving multiple applications. But, while that can be true, it doesn’t have to be. Our tools simplify the end-to-end migration journey through automation. From migration planning to code translation and cut-over, our tools have automated the most complex steps in the migration journey, allowing companies to move to the cloud faster and with less risk.”

Learn more about Next Pathway’s research here.