# The Value of Cloud Computing
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-12-19
Category: TECHNOLOGY
Category URL: https://financedigest.com/category/technology
Meta Title: Impact of Multi-Cloud Strategy on Business Innovation
Meta Description: Discover the impact of cloud computing on business functions, flexibility, and efficiency. Learn how multi-cloud strategies are shaping the future of
URL: https://financedigest.com/the-value-of-cloud-computinghtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-1408906928-1736814710565-compressed.jpg)

![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/david-johnson-1736814710486-compressed.jpg)

_By_ **_David Johnson,_** _Director of Director of Strategic Architecture EMEA_

The global pandemic has had a [profound impact](https://www.financedigest.com/stanchart-ceo-says-at1-bond-wipeout-has-profound-impact.html "StanChart CEO says AT1 bond wipeout has profound impact") on how businesses function. In a world that now embraces flexible working policies, organisation’s priorities have changed with more [importance being placed on data access and business](https://www.financedigest.com/the-importance-of-property-care-looking-after-your-business.html "The Importance of Property Care: Looking After Your Business") intelligence. Due to the recent acceleration of [cloud adoption](https://www.financedigest.com/the-benefits-of-adopting-cloud-technology-in-the-finance-industry.html "The benefits of adopting cloud technology in the finance industry"), the majority of organisations currently use a multi-cloud strategy, with many of those being a hybrid cloud strategy.

**[Harnessing the power](https://www.financedigest.com/trusting-your-gut-how-to-harness-the-power-of-your-business-instincts.html "Trusting your gut: how to harness the power of your business instincts") of the cloud**

[Cloud computing](https://www.financedigest.com/how-hybrid-cloud-computing-offers-the-best-of-all-worlds.html "How hybrid cloud computing offers the best of all worlds") is growing rapidly. Research from [Gartner](https://www.gartner.com/en/newsroom/press-releases/2021-11-10-gartner-says-cloud-will-be-the-centerpiece-of-new-digital-experiences) predicts that by the end of 2025, as many as 85% of businesses will be using cloud computing, and 95% of digital workloads will be deployed on cloud-native platforms. This migration to the cloud is part of organisational efforts to [reduce the cost and complexity around infrastructure whilst increasing flexibility](https://www.financedigest.com/home-start-lincolnshire-implements-flexible-unified-communications-service-to-reduce-costs.html "HOME-START LINCOLNSHIRE IMPLEMENTS FLEXIBLE UNIFIED COMMUNICATIONS SERVICE TO REDUCE COSTS"), consistency and security. However, this [move isn’t easy due to many organisations having their own existing data](https://www.financedigest.com/exclusive-binance-moved-346-million-for-seized-crypto-exchange-bitzlato-data-show.html "Exclusive-Binance moved 6 million for seized crypto exchange Bitzlato, data show") systems and processes in place. This means that it can take a while for [companies to integrate cloud](https://www.financedigest.com/green-cloud-one-way-your-company-can-commit-to-sustainability.html "Green Cloud: one way your company can commit to sustainability") environments to harness a workforce’s potential.

Having [cloud software is valuable to businesses](https://www.financedigest.com/how-cloud-computing-saves-businesses-money.html "How cloud computing saves businesses money") as it provides them with more flexibility in comparison to hosting on a local server. This flexibility is [ultimately significant in relation to providing business](https://www.financedigest.com/the-ultimate-excel-sales-tracking-templates-for-businesses.html "The Ultimate Excel Sales Tracking Templates For Businesses") leaders with more freedom and time to delegate towards making impactful business decisions and overall improving the efficiency of the organisation.

One way to begin to leverage data is through software-as-a-service (SaaS) platforms. The relevance of SaaS platforms, such as Domo, has grown in a post-covid world due to their ability to pull in and integrate data from multiple internal and external sources, allowing for fully seamless operations. Being able to integrate [data from various sources is especially valuable when considering flexible working models that businesses](https://www.financedigest.com/keeping-data-connected-for-greater-business-value.html "Keeping Data Connected for Greater Business Value") are increasingly adopting.

**How a multi-cloud strategy impacts your business**

As business functions and processes are streamlined, [cloud computing systems have begun to transform business](https://www.financedigest.com/7-ways-cloud-technology-can-transform-business-finances.html "7 ways cloud technology can transform business finances") innovation. [According to a recent report](https://www.financedigest.com/louisiana-floods-to-cost-us-economy-more-than-10bn-according-to-aon-catastrophe-report.html "Louisiana floods to cost US economy more than bn, according to Aon catastrophe report"), the top cloud initiatives across all organisations in 2022 are: optimising existing use of cloud, migrating more workloads to cloud and a move from on-premises software to SaaS processes. Not only does this research give valuable insight into how businesses are using [cloud systems, but it also demonstrates the mass adoption of cloud services](https://www.financedigest.com/tomorrows-world-how-cloud-computing-will-impact-the-financial-services-sector-in-2016.html "TOMORROW’S WORLD: HOW CLOUD COMPUTING WILL IMPACT THE FINANCIAL SERVICES SECTOR IN 2016") across organisations. The data also indicates that [small to medium- sized businesses](https://www.financedigest.com/how-banks-will-evolve-to-support-small-business-owners.html "How banks will evolve to support small business owners") (SMBs) are spending more on cloud software, with a 39% increase in spending, meaning that 53% of SMBs are now spending $1.2 million annually on cloud software.

A multi-cloud strategy [implements more than one cloud](https://www.financedigest.com/how-cloud-is-driving-forward-implementation-of-zero-trust-security.html "How Cloud is Driving Forward Implementation of Zero Trust Security"), which are sourced from different vendors. With flexible working becoming the norm, [cloud computing](https://www.financedigest.com/embracing-cloud-computing-how-and-why-organisations-are-set-to-invest-more-in-cloud-computing-in-2023.html "Embracing Cloud Computing: How and why organisations are set to invest more in cloud computing in 2023") is key in allowing businesses to gain the level of perspective needed to function effectively. They provide businesses the ability to access more data faster, benefit from the [enhanced data governance and empower](https://www.financedigest.com/aon-empowers-cat-modellers-to-run-any-model-on-its-enhanced-elements-10-platform.html "AON EMPOWERS CAT MODELLERS TO RUN ANY MODEL ON ITS ENHANCED ELEMENTS 10 PLATFORM") employees more. It is through this that multi-cloud strategies provide organisations the ability to better understand, integrate, and analyse their data to then efficiently deploy actions, which is [integral in the digital](https://www.financedigest.com/what-is-id-and-verification-and-why-is-it-such-an-integral-part-of-digital-life.html "What Is ID and Verification and Why is it Such an Integral Part of Digital Life?") age. For example, our pre-built and custom connectors at Domo allow users to access and integrate all [cloud data with ease, giving users the freedom to create a cloud architecture that benefits](https://www.financedigest.com/can-finance-reap-the-benefits-of-the-cloud-without-compromise.html "Can finance reap the benefits of the cloud without compromise?") your team and meets your specific needs.

When data is stored in the cloud, users can install tracking mechanisms which build customised reports to analyse information which in turn helps with [building a better understanding of internal processes](https://www.financedigest.com/li-cycle-to-build-french-battery-processing-facility.html "Li-Cycle to build French battery processing facility"). Ultimately, by having a visual display of performance, it is easier to understand the function of the organisation and implement effective changes to improve it.

**How these [trends will continue](https://www.financedigest.com/volkswagen-strikes-below-inflation-wage-deal-continues-german-trend.html "Volkswagen strikes below-inflation wage deal, continues German trend") in years to come**

According to [Tech Journal](https://techjournal.org/the-future-of-cloud-computing-2025/), cloud computing will be worth $68.5 billion by 2025, which is a 15% year-on-year growth. As we move further into the digital era, it makes complete sense that cloud adoption will increase to become a fundamental aspect of businesses, especially with [remote working](https://www.financedigest.com/shoring-up-cyber-defences-in-the-remote-working-era.html "Shoring up cyber defences in the remote working era"). There are many reasons why [cloud adoption will increase amongst organisations](https://www.financedigest.com/cloud-migration-for-financial-services-organisations-whats-the-best-approach.html "Cloud Migration for Financial Services Organisations – What’s the best approach?"), but collaboration, governance and data storytelling capabilities are the leading factors. On most days, we can’t walk over to a colleagues’ desk to ask a question, so being able to access a platform where employees can co-create is essential to most organisations. This is where the collaboration software and collaborative BI capabilities become even more powerful in nature. Domo’s [business intelligence and analytics layer turns data into live visualisation and real-time metrics](https://www.financedigest.com/5-fx-metrics-your-business-should-be-tracking.html "5 FX METRICS YOUR BUSINESS SHOULD BE TRACKING"), which becomes instantly available on any device and drives informed decision making across businesses.

The global pandemic was an unprecedented shock, which completely [redefined the way](https://www.financedigest.com/redefining-renting-tipi-launches-the-best-way-to-live-in-london.html "REDEFINING RENTING: TIPI LAUNCHES ‘THE BEST WAY TO LIVE IN LONDON’") the world functions. However, it has birthed a new culture which embraces the power of technology and facilitates explorative and collaborative work. The [power it brings](https://www.financedigest.com/edpr-brings-iberias-first-wind-solar-power-plant-on-stream.html "EDPR brings Iberia’s first wind-solar power plant on-stream") to organisations is unparalleled, and is something which we only see as being embraced by more organisations. However, with more organisations relying on cloud systems, the technology needs to develop to cater towards increased usage and [improving safety in order to create a long-term and sustainable future for this software](https://www.financedigest.com/how-to-use-momentum-analytics-software-to-improve-portfolio-performance.html "How to use momentum analytics software to improve portfolio performance").


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---