Leaders in cloud adoption approach their cloud journey differently than beginners, enabling them to achieve a 10x greater annualised return on investment.
This was revealed in a Wipro Limited report, ‘Making Business Thrive: A Cloud Leader Roadmap for Achieving 10x ROI’. The report outlines these best practices for enterprises beginning their cloud journey or seeking to accelerate their results. It also identifies dozens of key cloud-adoption metrics for multiple industries and countries.
Wipro FullStride Cloud Services developed the report based on a survey of 1,300 global C-level executives and key decision-makers from 11 industries and six countries. It defined leaders to be the top 19% of respondents based on cloud maturity, while beginners represented the lowest 32%, and this was not based on revenue.
This broad scope makes the report the first of its kind to analyse cloud maturity among businesses, identify business transformation opportunities and define a seven-step roadmap for cloud leadership.
“Cloud is no longer just for cost savings or building agility. Our new report demonstrates that cloud drives high-impact transformation and benefits at every level of the business, including the bottom line,” said Rajan Kohli, President and Managing Partner, Integrated Digital, Engineering and Application Services, Wipro Limited.
“As enterprise leaders look to grow their business and respond to shifting markets, cloud capabilities – fueled by a well-orchestrated partner ecosystem – are an ideal choice to accelerate growth. Wipro stands ready to partner with clients to help them take a full stride toward cloud leadership and leverage hyperscalers and other partners for maximising impact to their businesses.”
Cloud Adoption Drives Profitability
According to Wipro’s research, the primary benefit of cloud adoption has shifted from increasing efficiency to driving profitability and revenue. This trend that will continue as the cloud becomes more intelligent, hyperconnected and pervasive. Participants said their use of the cloud provides a range of financial, operational and strategic benefits, most of which will increase substantially during the next two years.
Within these next two years, survey respondents expect that cloud will help increase revenue for 59% of firms; improve profitability for 54% and decrease costs for 49%.
Wipro’s report also describes ways in which cloud leaders approach their journey differently than beginners. Those best practices include: Investing beyond the data center and cloud infrastructure in areas that set the stage for better returns; engaging senior executives, including the CEO, to sponsor cloud initiatives; developing capabilities and aligning metrics for success.
The report stated that leaders augment their investment in cloud services with additional technologies, helping 21% of leaders achieve an ROI “significantly above expectations” compared with 10% of non-leaders. Artificial Intelligence (AI) is the most frequently used complementary technology. It calculated that 78% of cloud leaders combine AI with cloud, compared with 49% of non-leaders.
By 2023, cloud leaders expect their biggest increases in usage of complementary technologies to be in 5G (53% increase in companies using), edge computing (31% increase) and grid computing (29% increase).
It also found out that 50% of leaders expect to boost their cloud investments for cybersecurity and risk-management in two years.
By 2023, eight out of 10 leading firms will have advanced or fully optimised cloud environments in place, positioning them to reap the benefits of a robust cloud infrastructure. In contrast, 19% of non-leaders will still be in their planning or early phases of implementation, risking their future growth and business.
Wipro’s “Making Business Thrive: A Cloud Leader Roadmap for Achieving 10x ROI” report provides actionable intelligence and encourages companies to identify and prioritise the most effective cloud use cases for their specific industry over the next two years.
