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Advice and Information for Finance Professionals

4 Ways to Outperform Your Competitors

With more and more companies moving towards the cloud we wanted to find out how this cloud adoption impacted the success of these businesses. To do this, Oracle sponsored a global study, “Cloud Computing Comes of Age,” conducted by Harvard Business Review Analytic Services.

What did we find out?

  1. IT is not your opponent. IT and LOB share equal responsibility for cloud in high performing organizations.
  2. Move further, faster. Cloud leaders are not only more likely to use cloud across the top five functions (recruiting, marketing, sales, training, travel/expense management), but are also much more likely to be pushing cloud into more core business functions including procurement, supply chain and accounting.
  3. Be a role model. More than twice as many cloud leader respondents said that their CIOs had taken a leadership role in the move to the cloud compared to cloud novices (62 percent to 31 percent). These CIOs value the agility and efficiency cloud provides and they’ve made it a part of every conversation.
  4. Play to win. 72 percent of cloud leaders launched new products, 62 percent entered new markets, 55 percent expanded geographically, and 39 percent launched new business over the past 3 years.

The survey shows the clear business benefits of adopting cloud computing, but also highlights important insights for organizations that are looking to capitalize on the opportunities presented by the cloud.  IT and business leaders must work together to promote a more holistic cloud strategy if their organizations are to benefit from the next wave of cloud computing.

Find out more about the study here.

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