By: Cloud Barriers Cause Competitive Disadvantages
Stumbling Block
90% of the execs said cloud-based applications and infrastructure are needed to deliver digital information, but two-thirds admit that a lack of cloud investment is holding back digital initiatives.
Weakening Position
70% of the survey respondents fear that their business will become uncompetitive, and 76% of them said that could happen as early as the end of 2015.
Slow Burn
44% of CIOs and CFOs in companies losing revenue opportunities due to a lack of cloud investment said it's because of the IT department's inability to develop applications quickly.
Delayed Reaction
41% of those CIOs and CFOs said they can't on-board customers quickly enough due to poor responsiveness of internal IT tools.
Concerns Delaying Cloud Adoption
Security: 50%, Data protection: 44%, Intellectual property protection: 24%, Vendor lock-in: 23%
Risk of Outdated IT: Low Productivity
38% of CIOs and CFOs said that a failure to modernize IT effectively over the next 12 months will result in reduced staff productivity.
Risk of Outdated IT: Vulnerable State
35% of the executives said antiquated technology will invite a risk of data theft.
Risk of Outdated IT: Postponed Product
34% of them predicted that such a failure would increase time to market.
Risk of Outdated IT: Support Snag
33% said it will hurt their company's ability to service customers in new ways.
