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Cash in the clouds: Google says CFOs believe in cloud computing

Date: 12th September 2012

The cloud will save money, reduce costs, and improve efficiency. At least, that’s what top financial experts believe, according to Google. Google recently commissioned a study with 800 CFOs and other top financial executives at companies with 500 or more employees in the U.S. and Europe.

According to the study, conducted by Vanson Bourne, 96%t of chief financial officers believe that “cloud computing provides their business with quantifiable benefits.” A similar 94% said that the cloud will be important to the success of their companies, and just over half believed that cloud computing “offers better value” than traditional outsourcing. French and UK companies were particularly bullish on cloud. A majority of executives in those countries said that the cloud offers increased flexibility, greater capacity, better scalability and — yes, these are finance geeks — the ability to move technology purchases from a capital expenditure budget, which must be amortized, to an operating expenditure budget, which offers more flexibility and less risk.

 Keysource says: We totally agree with these findings, but have a word of caution for any organisation considering a switch to cloud computing. Yes, there are definite opportunities to reduce costs and improve efficiency, but with this comes much more reliance on third parties to deliver the necessary levels of availability and services.

There has been a series of high profile data centre incidents in recent months both in the UK and worldwide that should act as a warning to organisations that are simply looking to slash IT spend without proper consideration. Unexpected downtime can have a serious impact on a company’s performance, profitability and brand, so a balanced view to risk and cost is needed. Therefore, it is essential to undertake appropriate risk assessment and due diligence before committing to any IT project to identify an appropriate cloud partner.


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