Cloud helping to create new revenue streams, executives say
More than half of large businesses in the UK believe that cloud computing will help create new revenue streams in the next three years, new research has found.
According to the results of a study published by economic forecasting organisation Oxford Economics, nearly seven in 10 (69 per cent) business are expecting to invest heavily in new cloud deployments in the coming years. Over two fifths (44 per cent) of business executives asked said that they are already relying on the cloud as a means of launching new business models, and this figure is expected to rise to 55 per cent by 2018.
In terms of the way businesses are using the cloud today, the study showed that a third (32 per cent) are embracing the technology to help streamline their supply chains, ihotdesk reported. This is due to become an increasingly popular use of the cloud, with business executives suggesting that by 2018 this figure will have risen to 56 per cent.
Another major use of the cloud was found to be managing and analysing data, with 59 per cent of respondents saying they are currently doing this on cloud-based platforms or applications.
When asked where they expect to see cloud computing have the biggest impact on their business in the next three years, the executives said top-line growth (58 per cent) and supply chain (56 per cent). In terms of where they will experience the greatest gains, boosting collaboration among their employees (20 per cent) and increasing agility and responsiveness to customers (17 per cent) were two of the most common choices.
Developing new products and services (61 per cent), creating new revenue streams (51 per cent) and entering new markets (40 per cent) were selected as the ways the cloud is transforming enterprises today.
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