Cloud has transformed from a tech imperative to a business imperative. Companies risk losing the benefits of this new era of cloud unless they take a new approach to managing it.
About Cloud Radar 2023
2,500 business and IT executives
11 countries
10 industries
To understand how companies can manage their cloud environments, Infosys surveyed more than 2,500 business and IT executives across 11 countries and 10 industries between April 2023 and May 2023. The findings show that cloud adoption is far from slowing down and companies plan to spend more. More surprisingly, this research reveals that companies do not have a good handle on cloud spend, security, and governance.
Key Insights
Companies now look to cloud to modernize and to grow. They want cloud to help them open new revenue streams, access emerging technologies such as artificial intelligence, and integrate acquisitions. Nearly 75% report cloud migration very effective or extremely effective in meeting objectives.
As cloud investment races ahead, utilization has not kept pace. Companies have on average utilized 47% of all the cloud they have already committed to, our survey found. This is reflected in the financial reporting of major cloud providers. The cloud providers in our survey collectively report more than $300 billion in corporate cloud commitments that have not been used.
This new era brings new complexities. Over half (53%) say they struggle to monitor costs in this environment. And more than one-third of the time, companies silo cloud ownership decisions within business or IT, not both. Finally, more than 40% have lax policies to govern cloud deployment. These management issues contribute to surprise cloud costs, unseen security threats, and cloud management confusion.
As evolving technologies like generative AI, IoT, and data analytics shape larger and more complex cloud environments, companies with clear business strategy and agility are better positioned to adapt and thrive in this dynamic landscape.
Similar to legacy systems, cloud starts to become unwieldy and costly with time. Cloud has transformed from a tech imperative to a business imperative. Companies risk losing the benefits of this new era of cloud unless they take a new approach to how they manage it.
These three steps guide enterprises to better utilize and manage cloud.
Master monitoring and prediction.
Embed the business case into cloud.
Adopt a value-centric cloud operating
model.
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