Fiscal Confessions: CFOs Sight Is Definitely Cloud Worth

Fiscal Confessions: CFOs Sight Is Definitely Cloud Worth

Prompted by the infamous Mat Honan hack attack, cloud computing has been exposed to severe criticism over the last couple of weeks, pouring in from even those like Steve Wozniak and company. The (needlessly excessive) denigration has, however, served little to diminish the cloud demand prevalent at the end of ventures and individuals alike. Following the footsteps of Chief Information Officers (CIOs) and top IT leaders, Chief Financial Officers (CFOs) have started exhibiting complete faith in cloud computing, a recent Google-backed study reveals.

The main research objective was to dig deep into how CFOs typically felt about cloud computing to see if the financial geniuses actually understood the cloud computing philosophy in its entirety. How beneficial would the cloud transition eventually be? To seek answers, Google reached out to about 800 CFOs originating from ventures located within Europe and the United States.

The results are in and the CFOs are certain of the cloud’s benefits. Remember that these are the folks who normally take pride in encouraging push-backs instead of forward leaps when adopting organization-wide novel technologies, unless the resulting gains are truly worth it. In this case, a hefty 81 percent of the interviewees are confident that implementing cloud technology would lead to improved employee performance and productivity. On top of that, a sturdy 71 percent are of the view that incorporating cloud computing would significantly dwindle the amount of time needed to transform product prototypes and conceptual service framework to a tangible state.

Within Europe, an approximated 67 percent of the respondents have either already endorsed or are planning to adopt cloud computing, whereas in the US about 52 percent of the surveyed CFOs declared that they constantly consider cloud-based systems in their ever-important IT roadmap and decision-making procedures.

Additionally, CFOs envision a significant decrease of the investment and operational costs, enhanced security, and considerable productivity boost inherent to the cloud-fueled freedom to collaborate with peers and teammates using cloud-based tools. Moreover, 69 percent of CFOs from Europe are positive that cloud computing emphasizes the innovation capacity of the concerned IT divisions.

The results of the survey are a vivid indicative of the fact that cloud computing enjoys unmatched popularity amongst the big guns – those who administer the money and call the shots. Logically speaking, arranging funds for initiating cloud-based projects within the organization should not be a problem; that’s good news for the IT people. CFOs have been prompt to sight the mammoth business benefits inherent to the cloud, and it’s about the rest of us to follow.

By Humayun Shahid

About Humayun

With degrees in Communication Systems Engineering and Signal Processing, Humayun currently works as a lecturer at Pakistan's leading engineering university. The author has an inclination towards incorporating quality user experience design in smartphone and web applications.

View All Articles

Sorry, comments are closed for this post.

Comic
Fully Autonomous Cars: How’s It REALLY Going To Work?

Fully Autonomous Cars: How’s It REALLY Going To Work?

Pros and Cons and What the Experts Think Science fiction meets reality, and modern civilization is excitedly looking forward to the ubiquity of self-driving cars. However, an omnipresence of fully autonomous cars won’t happen as quickly as even some hopeful experts anticipate. While the autonomous car pros versus the cons race (See infographic discovered via…

The Lighter Side Of The Cloud – Bottlenecking

The Lighter Side Of The Cloud – Bottlenecking

By David Fletcher Please feel free to share our comics via social media networks such as Twitter, Facebook, LinkedIn, Instagram, Pinterest. Clear attribution (Twitter example: via @cloudtweaks) to our original comic sources is greatly appreciated.

Recent Articles - Posted by
Fintech Systems, Advancements and Investments

Fintech Systems, Advancements and Investments

Fintech Growth According to a recent report, global investment in fintech companies including both venture-backed and non-venture-backed businesses reached $9.4 billion in the second quarter of 2016; investment in venture capital-backed fintech startups, however, fell by 49%. Nevertheless, the Pulse of Fintech, published jointly by KPMG International and CB Insights, suggests venture capital investment in…

How Identity Governance Can Secure The Cloud Enterprise

How Identity Governance Can Secure The Cloud Enterprise

Securing The Cloud Enterprise Cloud adoption is accelerating for most enterprises, and cloud computing is becoming an integral part of enterprise IT and security infrastructure. Based on current adoption trends, it’s clear that the vast majority of new applications purchased by organizations will be SaaS applications. The allure is evident, from cost savings to speed…

Virtual Immersion And The Extension/Expansion Of Virtual Reality

Virtual Immersion And The Extension/Expansion Of Virtual Reality

Virtual Immersion And Virtual Reality This is a term I created (Virtual Immersion). Ah…the sweet smell of Virtual Immersion Success! Virtual Immersion© (VI) an extension/expansion of Virtual Reality to include the senses beyond visual and auditory. Years ago there was a television commercial for a bathing product called Calgon. The tagline of the commercial was Calgon…

Do Not Rely On Passwords To Protect Your Online Information

Do Not Rely On Passwords To Protect Your Online Information

Password Challenges  Simple passwords are no longer safe to use online. John Barco, vice president of Global Product Marketing at ForgeRock, explains why it’s time the industry embraced more advanced identity-centric solutions that improve the customer experience while also providing stronger security. Since the beginning of logins, consumers have used a simple username and password to…

Ending The Great Enterprise Disconnect

Ending The Great Enterprise Disconnect

Five Requirements for Supporting a Connected Workforce It used to be that enterprises dictated how workers spent their day: stuck in a cubicle, tied to an enterprise-mandated computer, an enterprise-mandated desk phone with mysterious buttons, and perhaps an enterprise-mandated mobile phone if they traveled. All that is history. Today, a modern workforce is dictating how…

Connecting With Customers In The Cloud

Connecting With Customers In The Cloud

Customers in the Cloud Global enterprises in every industry are increasingly turning to cloud-based innovators like Salesforce, ServiceNow, WorkDay and Aria, to handle critical systems like billing, IT services, HCM and CRM. One need look no further than Salesforce’s and Amazon’s most recent earnings report, to see this indeed is not a passing fad, but…

Cloud-based GRC Intelligence Supports Better Business Performance

Cloud-based GRC Intelligence Supports Better Business Performance

Cloud-based GRC Intelligence All businesses need a strategy and processes for governance, risk and compliance (GRC). Many still view GRC activity as a burdensome ‘must-do,’ approaching it reactively and managing it with non-specialized tools. GRC is a necessary business endeavor but it can be elevated from a cost drain to a value-add activity. By integrating…

Surprising Facts and Stats About The Big Data Industry

Surprising Facts and Stats About The Big Data Industry

Facts and Stats About The Big Data Industry If you start talking about big data to someone who is not in the industry, they immediately conjure up images of giant warehouses full of servers, staff poring over page after page of numbers and statistics, and some big brother-esque official sat in a huge government building…

Five Cloud Questions Every CIO Needs To Know How To Answer

Five Cloud Questions Every CIO Needs To Know How To Answer

The Hot Seat Five cloud questions every CIO needs to know how to answer The cloud is a powerful thing, but here in the CloudTweaks community, we already know that. The challenge we have is validating the value it brings to today’s enterprise. Below, let’s review five questions we need to be ready to address…

Teach Yourself The Cloud: Cloud Computing Knowledge In 5 Easy Steps

Teach Yourself The Cloud: Cloud Computing Knowledge In 5 Easy Steps

Teach Yourself The Cloud Learn how to get to grips with cloud computing in business  Struggling to get your head around the Cloud? Here are five easy ways you can improve your cloud knowledge and perhaps even introduce cloud systems into your business.  Any new technology can appear daunting, and cloud computing is no exception.…

Three Factors for Choosing Your Long-term Cloud Strategy

Three Factors for Choosing Your Long-term Cloud Strategy

Choosing Your Long-term Cloud Strategy A few weeks ago I visited the global headquarters of a large multi-national company to discuss cloud strategy with the CIO. I arrived 30 minutes early and took a tour of the area where the marketing team showcased their award winning brands. I was impressed by the digital marketing strategy…

Cloud Computing Offers Key Benefits For Small, Medium Businesses

Cloud Computing Offers Key Benefits For Small, Medium Businesses

Cloud Computing Benefits A growing number of small and medium businesses in the United States rely on as a means of deploying mission-critical software products. Prior to the advent of cloud-based products — software solutions delivered over the Internet – companies were often forced to invest in servers and other products to run software and…

5 Considerations You Need To Review Before Investing In Data Analytics

5 Considerations You Need To Review Before Investing In Data Analytics

Review Before Investing In Data Analytics Big data, when handled properly, can lead to big change. Companies in a wide variety of industries are partnering with data analytics companies to increase operational efficiency and make evidence-based business decisions. From Kraft Foods using business intelligence (BI) to cut customer satisfaction analysis time in half, to a…