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Many businesses are using cloud for basic infrastructure requirements, but moving from migration to transformation is where the greater value lies.
Cloud technology is now ubiquitous, but the possibilities of using it to drive value creation are only just being appreciated. It isn’t just data storage - it can facilitate the implementation of powerful new tools such as AI, machine learning and web3 technologies.
While many businesses are engaged in using cloud for basic infrastructure requirements, moving from migration to transformation of business processes is where the greater value lies.
In a recent PwC survey, 78% of business leaders said they have adopted cloud in most or all areas of their organisations.
However, more than half of those who responded said they are not yet seeing the outcomes they want from their company’s investments. Extracting value from the investment in the cloud is clearly a priority.
We have recently worked with a multinational chemicals company seeking to understand tech-enabled solutions that could assist, differentiate, reduce risk and potentially accelerate value.
A combined tech and operations value creation assessment identified tech-focused solutions to diversify business growth, increase plant capacity, standardise quality and expansion of their consumer markets.
Once the value creation opportunities were identified, it could prioritise its efforts and link tech investments to specific business outcomes - the larger “so what?” - with clear measures of value.
Another example of cloud transformation and innovation was in a US-based men’s skincare business who were looking to improve its top-line growth by transforming its digital presence and customer interactions. At the same time, they wanted to automate their back end operational processes to serve a large number of national retailers.
By undertaking a value creation assessment, they were able to identify and prioritise technology investments and link them back to sales growth and EBITDA improvement.
Cloud investment enabled them to build a technology platform to scale with their growth plans, reduce manual tasks, and enhance their digital customer experience, while maximising the business insights available at their fingertips.
“86% of UK CEOs are investing in automating processes and systems, while 77% are investing in deploying advanced technologies such as AI and cloud.”
Source: 26th Annual PwC CEO Survey
To develop a cloud strategy that adds value, businesses need to:
A successful cloud strategy can help business leaders unlock the value of tech investments by linking data, systems, emerging technology, and devices. It provides the platform for better use of analytics, and innovations such as robotics, AI, machine learning, and blockchain technologies.
Cloud transformation is not just a case of putting the right infrastructure in place and carrying on. Regulation or regulatory risk may mean that some parts of a business are simply not suited to the cloud. And for everything else, cloud transformation will affect the way the business operates, and the way it interacts with customers, suppliers and third parties.
This is where we can help, with our wide experience of supporting clients in developing their cloud strategies and creating value we are well placed to help you.