Cloud adoption delivers a 10x higher return on investment for cloud leaders than cloud novices. But how does an organization achieve these results? Read on to learn five key areas of focus that can help CEOs, CIOs, and others maximize value during their enterprise cloud journeys and accelerate their cloud maturity.
Enterprises around the world understand that cloud strategy and approach is critical to the modern and agile business. The challenge is identifying how best to approach it, where to focus their efforts, and how to get the most out of their cloud investments.
Cloud leaders provide inspiration; their use of the cloud delivers a return on investment 10 times greater than cloud startups, for a recent Wipro FullStride Cloud Services Report. But maximizing business value from the cloud requires more than best practices. It also requires the willingness of CEOs, CIOs and other C-suite executives to accelerate organizational cloud maturity and apply cloud technologies in five key areas, which are described below.
Leading CIOs leverage their cloud investments to reduce operational costs and improve efficiency. This strategy has also been embraced by cloud startups; “Cost savings” are one of the fastest growing payoffs in the cloud journey, and increased enterprise agility is a key investment driver. But cloud leaders distinguish themselves by treating the cloud as a central component of their growth strategies.
This disparity is not only indicative of a difference in perspective between leaders and non-leaders. It can also be attributed to experience.
The positive impact of cloud investments is greatest among organizations that have reached relative maturity as cloud users. This makes sense: Leaders tend to already have a sophisticated digital infrastructure in place, allowing them to pursue higher-impact initiatives. More than a quarter say they have migrated core business processes to the cloud (compared to just 4% of non-leaders) and 78% expect to deliver cloud-native applications within the next two years, a perspective shared by just 31 % of non-leaders.
With this background and added maturity, cloud leaders clearly have bigger goals in mind. Compared to less sophisticated users, executives are 30% more likely to use the cloud to accelerate development and launch cycles and are 33% more likely to create entirely new cloud-based offerings. Organizations that maximize their cloud ROI also tend to focus on industry-specific use cases with the potential to drive transformational growth.
This reflects the understanding that success in the cloud is a journey, not a destination. Like the technology itself, leaders are constantly evolving—as a result of past cloud implementations and as a prerequisite for future adoption. They are also constantly looking for new ways to use the cloud to drive business results.
Here are five key areas of focus that can help CEOs, CIOs and others maximize value during their enterprise cloud journeys and accelerate their cloud maturity:
- Adopt a cloud everywhere mindset
Companies can achieve the highest return on their cloud investments by focusing on the business growth agenda and aligning their technology transformation with that agenda. Cloud has the unique ability to impact every area of a business. Similarly, CIOs need to think holistically about how to plan, enable, manage, and define their cloud-enabled growth—and then develop strategies to execute that plan successfully.
- Provide confidence and consistency
The past two years have been a crash course for many enterprises in business resilience. These 24-plus months have also proven how important the cloud is to ensuring business continuity. As organizations (as well as CIOs, employees and partners) increasingly rely on the cloud, they must approach mission-critical systems with digital trust and privacy frameworks that are built to improve the user experience by addressing the need for security and compliance.
- Champion and lead a cultural change
Successful cloud implementations are as much about the people as the technology. Embracing new ways of working and investing in training can mean the difference between cloud success and failure. The telecommuting world has also demonstrated that a decentralized workforce can be just as productive as on-premises employees, which has freed some enterprises to explore—and succeed with—a human resource and technology model. collaborative cloud.
- Use smart data
CIOs are being asked to provide more business insights and forecasts as stakeholders are looking for new market opportunities. These demands have only increased as organizations have access to an unprecedented volume of data, requiring AI for efficient and effective analysis. Improving visibility and analysis of key data is essential to solving key business challenges. As companies aspire to improve their enterprise IQs, the need for improved data stewardship and data governance is paramount.
- Focus on Automation
To be “digital” and not just “do digital,” companies must consider end-to-end automation and further integrate the business unit and IT organization. While integration sounds simple, success requires a strategic balance of machine learning, robotic process automation, digital twins, AI operations and more.
Ultimately, CIOs and business leaders can rest assured that the cloud offers more than savings and efficiency; it drives revenue and business growth. But achieving these goals requires recognizing the strategic importance of the cloud across the enterprise and accelerating the organization’s cloud maturity. Are you ready?
Written by Gavin Williams.
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