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How finance leaders are reevaluating their cloud business strategies
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Once seen as an IT infrastructure enabler, cloud is now a core pillar of business strategy. For success in today’s digital world, companies need to have a simplified, unified, and optimized cloud strategy and infrastructure. Where should finance leaders place their bets when it comes to technology investments? An elite group of high performers shows the way.
Pacesetters take the lead with cloud.
The TCS Global Cloud Study identified an elite group of senior finance leaders (we call them Pacesetters) who have made significant progress along the cloud continuum. They have also demonstrated outstanding financial performance over the past five years.
How are Pacesetters different?
A majority of our survey respondents revealed that they’re betting big on AI, but Pacesetters are investing more than others (Followers). And they’re more likely to view cloud investments for their transformational potential with new business models and innovation.
Both Pacesetters and Followers face challenges in critical areas.
While Pacesetters are performing strongly, the research uncovered gaps that all senior finance leaders need to close.
One clear problem is data governance.
Digital ecosystems are another area of concern.
Today, cloud offers the potential of continual innovation across a digital ecosystem and perpetual value creation for customers, partners, and employees. But to what extent are organizations realizing the promise of cloud-enabled innovation?
TCS’ Thought Leadership Institute conducted this study of approximately 1,000 senior executives in multiple sectors across Asia, Europe, North America, and the United Kingdom, more than half with revenue over $5 billion. This global study examines the extent to which cloud has evolved from an IT-centric solution to a critical business strategy and explores how the survey respondents are employing strategic cloud capabilities to spark innovation. The 972 C-suite and IT senior executives and decision makers included 274 senior financial leaders.
