A recent study by Oxford Economics showed that many small and midsized businesses believe that implementing cloud computing increased revenues. This increase was seen even though the organizations didn’t have a large IT organization to support the cloud migrations.
Oxford Economics is often used by members of the Fortune 500 to understand what’s happening in the world’s economy. As part of its “Path to Value” cloud survey, Oxford solicited feedback from over 350 executives across the US. 33% of the survey participants were CEOs, CTOs, or COOs. The remaining 67% held other executive positions. Most of the companies surveyed produced revenues of $750 million or less.
The companies surveyed generally viewed cloud computing as a “key to greater collaboration and innovation”. 32% of the companies surveyed indicated that they were looking at the cloud primarily to save operational expenses and achieve greater efficiencies.
Probably most significant, the Oxford survey found a substantial correlation between those organizations furthest along in adopting cloud computing and their bottom line results.
53% of the survey participants indicated that cloud would be critical to their business strategies in the next two years.
This survey validates what most senior executives believe to be true – if your organization is not looking at the cloud, it should be.
You can view results of the survey here: