- 75 percent of enterprises have either deployed cloud applications or are in the process of moving to the cloud
- Nearly 40 percent of enterprises are looking at standardization of enterprise cloud applications stack versus best-of-breed solutions
Infosys Knowledge Institute (IKI), the thought leadership and research arm of Infosys (NYSE: INFY), today published a global market research report on the current cloud application landscape titled, 'Behind the scenes of an intelligent enterprise: moving enterprise applications to the cloud.' The report highlights drivers and objectives for enterprises to adopt cloud applications, their methods and extent of adoption, along with implementation approaches, strategy and pain points.
For this study, Infosys surveyed 853 senior executives representing firms from 12 industries, across U.S., Europe, Australia and New Zealand (ANZ).
Key insights from the survey:
- 54 percent of enterprises look at cloud applications as a foundation for their organization's digital transformation
- 75 percent of enterprises have either deployed cloud applications or are in the process of deploying one with high-tech and telecom industries leading in the space
- Nearly 40 percent of enterprises are looking at standardization of enterprise cloud applications stack versus best-of-breed solutions. Better interoperability between systems (59 percent) and collaboration (61 percent) are seen as the top benefits of this approach
- Visionary enterprises see greater agility to respond to changing market conditions as the biggest advantage of cloud applications adoption, while most enterprises view improved data security and superior customer experience among the top benefits
- Stakeholder confidence on ROI is the top apprehension (60 percent) while organizational readiness is second (40 percent) during cloud application transformation
- Accurate estimation of time and costs (51 percent), monitoring systems (51 percent), aligning existing legacy systems with new technologies (49 percent) and promoting a culture change within the organization (48 percent) are seen as major challenges in operationalizing cloud application transformation program
- Enterprises where business executive layer (CEO, COO, CFO etc.) are more involved across various stages of cloud application adoption have higher levels of clarity on their digital transformation and are more satisfied with the progress of cloud journey
Dinesh Rao, Executive Vice President and Global Head – Enterprise Application Services, Infosys, said, "As digital disruption impacts incumbents across industries, the responsiveness of their operating models is what differentiates the best from the rest. However, enterprises face many challenges as they navigate the path towards being more sentient, 'live' enterprises - including choosing the right cloud approach, technology investments to repurpose and keeping up with data security. We believe the insights from this research can help enterprises with legacy landscapes to accelerate their digital journeys."
For a full copy of the report, please visit: www.infosys.com/research-
Survey Methodology
A total of 853 senior executives and leaders involved in digital and cloud initiatives responded to this research, which took place in July 2019. Only companies with more than US $1 billion were chosen. Twelve industries were covered, and respondents hailed from the United States, Europe, Australia and New Zealand.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements mentioned in this presentation concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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