CFOs don’t know enough about cloud to trust it, research shows

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CFOs don’t know enough about cloud to trust it, research shows

Karl Flinders

Research among chief financial officers (CFOs) at medium-sized UK companies has revealed that many have yet to be convinced about the cloud.

The study, which was commissioned by SunGard and carried out by Vanson Bourne, interviewed 100 CFOs.

Only 34% of CFOs interviewed said they understood the full benefits of moving their IT into the cloud, while just 28% said they understood the difference between public and private clouds.

This lack of understanding could slow cloud adoption as CFOs make do with what they have: 62% of the CFOs interviewed expect no increase in IT budget over the next three years.

Keith Tilley, managing director UK at SunGard Availability Services, said there is still uncertainty among the CFO community. "With over half of CFOs expecting IT budgets to remain the same or shrink over the coming three years, IT suppliers and senior in-house IT employees need to do much more to educate financial decision-makers about the benefits of moving to an appropriate outsourced IT environment and the related use of outsourcing partners."

The survey results showed that:

  • 56% of CFOs are still put off by the perceived security risks of outsourcing the management of their IT infrastructure.
  • 45% are more inclined to keep their data in-house, despite the cost implications, as a result of high-profile media stories around IT outages or data losses.
  • 62% of CFOs expect no increase in IT budgets over the next three years.
  • 34% of UK CFOs to understand the benefits of moving their IT into the cloud.
  • 28% CFOs know the difference between private and public clouds.
  • 15% of CFOs surveyed said they would be happy to have all of their data in the hands of a third party.

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