Being able to rapidly see the success that cloud computing has on one’s business is partly responsible for the paradigm shift taking place today. A Forbes survey reported that 74% of tech CFOs said cloud computing would have the most pronounced impact on their businesses in 2017.
Since 2009, cloud computing has grown 4.5 times faster than IT itself. And that rate is only accelerating. The same study shows that by 2020, the growth will be up to 6 times as fast as IT. In 2017 alone, the demand for cloud computing is growing to $246.8 billion from $209.2 billion, an increase of 18%. In the same calendar year, the demand for Software as a Service (SaaS) is shown to be on the rise by 20% to $46.3 billion. Even more impressive is the projected growth that shows that by 2020, 60%-70% of all software, services and technology spending will be cloud-based.
How companies are benefiting
It’s obvious that companies large and small are rapidly jumping on board the Cloud Computing Express, but why is the rush so frantic and absolute? Quite simply because cloud computing is doing the things that make chief financial officers (CFOs) salivate when it comes to expenses versus revenue.
In a recent issue of Supply Chain Digest, polled executives said the best things about the cloud were:
• Faster deployments. Getting things through the pipeline quickly means lower labour costs, greater efficiency, and perhaps most importantly, greater customer satisfaction.
• Faster time to value. Time to value (TtV) refers to the period of time between the request for a business goal and the delivery of that goal.