Most businesses today consider themselves to be in the cloud. In our latest Cloud Business Survey, 78% of executives responding told us their companies had adopted cloud in most or all parts of the business. So, why is tangible value elusive for many? As in our 2021 survey, more than half had not realized the outcomes they were after: cutting costs, improving resilience, driving new revenue, and the list goes on.
The big issue? Moving to the cloud or running parts of your business in the cloud is not the same as being cloud-powered. What does that really mean and what does it take?
About 10% of those surveyed apparently know the answer: They have reinvented their businesses through cloud, they report fewer barriers to realizing value and they’re doing so at a rate twice that of other companies. And even in the current business environment, they expect to see continued revenue growth of 15% or greater.
We call these leaders cloud-powered companies.
Four ways cloud-powered companies are driving value
What’s the secret to their success? Our analysis revealed four big things they do differently today, compared with those companies who have yet to fully leverage cloud. Plus: Find out where we expect them to focus next — and where you can jump the line to become cloud-powered too.
1. Holistic and unwavering approach to cloud
2. C-suite collaboration from the get-go
3. Formal data, analytics and AI strategy
4. Focus on trust and controls
About the survey
Between October 25, 2022 and November 18, 2022, PwC surveyed 1,010 US business executives.
Respondents were from public and private companies in six major industries:
- financial services (24%);
- industrial products (20%);
- consumer markets (12%);
- health (12%);
- energy, utilities and resources (12%);
- and technology, media and telecommunications (20%).
How we define cloud-powered companies
Cloud-powered companies are the 95 companies that fall within the top 10% when sorted using our cloud success index. The index is calculated using answers to the following question: Which of the following best describes how cloud technology is, or is not, delivering measurable value in your organization? For each of the 12 metrics (e.g., cost savings, improved profitability, improved resilience, improved decision-making, etc.), the following scoring mechanism is used: 100 points where they have “already achieved measurable value,” 50 points where respondents “expect to achieve measurable value in the next 12 months,” and 0 points where they “do not expect to achieve measurable value in the next 12 months.” To ensure a valid distribution of scoring, respondents receive an index score only where they had a valid response to all 12 parts of the question (“don’t know” and “N/A” answers were excluded). The overall success score was calculated as a mean of the valid component scores and the range of scores across the 933 respondents was from 12.5 to 100.
https://www.pwc.com/us/en/tech-effect/cloud/cloud-business-survey.html
