4 in every 5 enterprises set to increase cloud budgets in 12 months: Survey

Cloud has emerged as the primary driver of business growth with four in every five enterprises set to increase their cloud budgets over the next 12 months, according to the latest EY-Nasscom survey based on responses from 504 C-suite executives.

In addition to remote working, the other top reasons for increased cloud adoption are changes in product/service delivery, new channels for connecting/reaching customers, changes in organizational processes and maintaining a competitive edge, the survey revealed.

Although, the covid-19 pandemic altered many paradigms of conducting business in new ways, majority of the respondents ranked business growth and transformation as the top drivers for cloud adoption. Cloud also played an integral role in helping enterprises sustain despite lockdowns and inconsistencies in IT infrastructure, enabling them to innovate faster thereby enhancing speed to market, agility, and responsiveness.

According to the survey, while 67% of the large enterprises accelerated cloud adoption, 39% of medium-sized companies and 38% of small companies embarked on their cloud journey. However, 92% of small enterprises and 80% of medium enterprises faced gaps in how they manage security related risks. To address the acute shortage of digital talent, organizations focused on new talent acquisition efforts (73%) as well as embarked on automation initiatives (66%) to augment the skill gap.

The survey…


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