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Cloud Computing: Executives Turn to the Cloud to Achieve Business Transformation

By Dick Weisinger

The cloud market is expected to grow from its $58 billion market size in 2013 to more than $191 billion by 2020, based on Forrester data presented in a recent KPGM report.

How are businesses using the cloud to achieve business transformation?  The KPGM survey of businesses ranging from $100 million to $20+ billion found that top benefits of the cloud are:

  • To achieve cost efficiencies (49 percent)
  • To enable more flexible and mobile workforce (42 percent)
  • To improve interactions with customers, suppliers and business partners (37 percent)

While cost efficiencies are a major motivator to get businesses to move to the cloud, businesses are shifting their focus towards leveraging the cloud to better align with customers and to achieve insights with analytics.

The KPGM report also ranked the top three criteria that businesses use when selecting cloud services:

  • Security (82 percent)
  • Data Privacy (81 percent)
  • Cost (78 percent)

Rick Wright, principal and global cloud enable leader at KPMG, said that “while the challenge posed by cloud related data loss and privacy threats are less pronounced in the minds of global industry leaders, they are still taking the issue seriously.  The clear trend in the data that we have collected shows that, even in the face of significant media attention paid to recent data breaches, global leaders are still willing to embrace the transformative potential of the cloud.”

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