According to a recent PwC report (opens in a new tab), many businesses are still struggling to understand the cloud despite widespread adoption.
The company’s latest Cloud Business Survey found that almost eight in 10 (78%) business executives had adopted the cloud in almost all of their businesses. However, they’re still struggling to realize results.
Just like in 2021, the majority of the businesses surveyed in 2022 did not meet their targets of cutting costs, improving resilience, and driving new revenue.
Cloud use in business
small number of businesses had dived into the deep end, according to the results, with just 10% of the responding executives saying that they had reinvented their industries through the cloud.
By doing this, the successful companies realized their goals twice as fast as the other businesses, seeing a revenue growth of at least 15%.
The PwC study also uncovered four of the critical things cloud-successful businesses are doing that put them ahead of the game to help less-experienced companies catch up.
In terms of adoption, the report highlights that there’s no one-size-fits-all linear approach, but rather that companies should apply the methods that make the strongest business cases for them individually.
Also of great importance is the collaboration of the so-called “C-suite,” the top-tier managers and executives. Making sure that all aspects of the company are on board and in the agreement is crucial.
It’s clear that data, too, is at the center of cloud-powered companies, which have a streamlined approach with clear governance structures. Finally, embedding trust into the operations is vital; this can be done by considering potential risks and creating the necessary action plans.