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.