CFOtech Australia logo
Technology news for Australian CFOs and financial decision-makers
Partner content
Story image

Accenture examines the future of business in the cloud

By Sara Barker
Tue 15 Jun 2021

In the mid-2000s, the cloud was banging on the IT world’s door. Some were sceptical about this new fad - and for good reason, as it takes time for such disruptive technologies to mature.

The cloud did not slip away as another come-and-go trend - instead, it evolved and went on to become a technology behemoth. Now, the cloud is well and truly in its ‘prime time’.

According to Accenture A/NZ cloud first lead Matt Coates, the cloud is the most disruptive and the most value-creating technology of our time. 

“Cloud is the foundation for the digital transformation that is driving profound changes in how businesses operate, compete and create value for all their stakeholders.”

Cloud adoption typically follows one of three separate paths: migration, acceleration, or growth and innovation.

1. Migration: This is the most common path to the cloud. Migration means organisations use cloud technologies to enable software-as-a-service (SaaS) capabilities. The goal is to run business applications more efficiently.

2. Acceleration: This is another popular path that involves building out cloud capabilities in analytics and software engineering. These capabilities could be built into AI and machine learning. Acceleration also requires upskilling the workforce to support new capabilities.

3. Growth and innovation: This is the cloud path less travelled because it’s the most ambitious. Organisations expect the cloud to be the long-term foundation for their business reinvention. They do not let legacy technologies and processes hold them back. They also realise the need to scale with the right combination of technology, talent, and the right economic model.

Accenture’s Business in the Cloud: The Future Made Possible report, which polled 1,150 organisations in Asia Pacific, found that companies that took a strategic approach to cloud adoption over the last five years were more than 2.5 times more likely to achieve double-digit revenue growth.

‘Cloud champions’ which account for 20% of organisations, are organisations that have adopted all technologies across the three different cloud paths mentioned earlier. ‘Cloud followers’ account for 58% of organisations and use a subset of technologies across the three paths; while ‘the rest’ account for 22% and may not have applied many technologies from any of the three paths.

What’s more, only 35% of organisations believe they have realised the full potential of cloud investments. Similarly, only 35% are using the cloud to develop new products and services. There could be many missed opportunities.

There is an important message for CEOs and business decision-makers. According to Accenture, CEOs need to build bridges between business growth goals and the change needed to support them.

Accenture says that there are two main areas that businesses need to improve on when it comes to leveraging the cloud: 

  • Embracing the power of the cloud to create and launch brand new products and services (i.e. build something different from the ground up).
  • Embracing the power of the cloud to transform the economics of functions outside of IT (i.e. marketing, sales, and customer service).

For many CEOs, using the cloud to prepare for business reinvention is still uncharted territory, but it doesn’t have to be.

Accenture recommends the following steps:

1. Set a higher value bar: Commit to cloud long term.
2. Embrace change differently: Use cloud-led programs to re-wire the enterprise operating model from the IT landscape to the workforce and business culture.
3. Build ‘one team’: Expand the talent pool to include data scientists, software engineers, cloud architects, and cybersecurity specialists.
4. Move forward responsibly:  Decision-makers need to ensure that responsible practices are embedded into every part of the organisation, from technology and product development to marketing, sales and customer service.

“Now is the moment for truly visionary CEOs to focus on creating shared success by embarking on a more ambitious cloud path, together with the rest of their C-suite,” the report concludes.

Read Accenture’s Business in the Cloud: The Future Made Possible report here.

Related stories
Top stories
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Customer experience
Research unveils precarious customer loyalty for retailers
New research has found customers are reassessing established brand loyalties as their priorities and behaviours shift.
Story image
Digital Transformation
Trading up: It's time to swap core systems for flexible digital applications
This year will see more oranisations planning and commencing high tech renovations that will shake up the way they operate.
Story image
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Google and CSIRO use AI to help protect the Great Barrier Reef
Google has partnered with CSIRO in Australia to implement AI solutions that help protect the Great Barrier Reef.
Story image
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Employee Experience
Zendesk launches customer service and employee experience offering
"Zendesk is helping businesses embrace this new generation of conversational customer relationship management and turn customer service into growth.”
Story image
Cloudflare launches instant serverless database for dev teams
"Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world."
Story image
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Jabra investigates what makes an ideal hybrid work model
“The way we work has changed forever and the current state of knowledge work requires access to digital platforms and technologies to be successful."
Story image
Artificial Intelligence
Updates from Google Workspace set to ease hybrid working troubles
Google Workspace has announced a variety of new features which will utilise Google AI capabilities to help make hybrid working situations more efficient and effective.
Story image
Employee Retention
Company values increasingly important in post-pandemic world
New research released today reveals that company values are the new currency when it comes to employee retention in a post-covid economy.
Story image
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.
Story image
Artificial Intelligence
ForgeRock releases Autonomous Access solution powered by AI
ForgeRock has officially introduced ForgeRock Autonomous Access, a new solution that uses AI to prevent identity-based cyber attacks and fraud.
Story image
Voxel hits total funding of $18M following ongoing wins
Since raising its seed round in September, Voxel has grown at pace, by decreasing on-site injuries by upwards of 80% and increasing operational productivity.
Story image
Airwallex launches new bank feed integration with NetSuite
Airwallex has launched a new bank feed integration with NetSuite, developed in partnership with NetSuite solution partner, Onlineone.
Story image
Aussie data & analytic execs not confident in data strategy
Less than half of Australian data and analytics leaders are confident in their data strategy as siloes and lack of culture prevent innovation.
Story image
Kodari Securities (KOSEC)
NFT trends and opportunities: expert reveals all
The NFT market is growing at an exponential rate, with unprecedented liquidity. Here we explore how businesses can profit.
Story image
Microsoft unveils adaptive accessories for disability access
Microsoft is introducing an expansive Inclusive Tech Lab to give people with disabilities greater access to technology through new software features and adaptive accessories.
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
HubSpot launches 'The Great Upskill' week to inspire learning
Brands across APAC including Google ANZ, MessageMedia, Meltwater, Seismic and Aircall, will give their employees a full workday to dedicate to upskilling.
Story image
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
Tech innovation crucial to growth, but barriers remain
Businesses in the A/NZ region believe tech innovation is crucial to drive future growth, but 76% say they’re being held back by complex data architecture.
Story image
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Decision Inc. Australia enters partnership with Alteryx
Independent data and analytics consultancy Decision Inc. Australia has partnered with automated analytics company Alteryx, expanding its offering to clients.
Story image
Atturra partners with Focus HQ to support Aus organisations
Atturra has executed a partnership agreement with Focus HQ, to resell and support the company's Australian developed SaaS-based portfolio management platform.
Story image
Artificial Intelligence
Clear Dynamics closes $35M funding round, invests in global growth
The funding is a major milestone and speaks to Clear Dynamics’ vision for AI-enabled ‘composable’ enterprise software, the company states.
Story image
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Story image
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Three key security challenges facing the Australian insurance industry 
Insurance companies must ensure they proactively address security challenges and protect the privacy of customer data.
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.
Story image
Artificial Intelligence
CFOs using digital workers and AI to prevent unnecessary loss
New technology is now allowing CFOs to use digital workers to automate their accounting processes, making it easier for them to avoid unnecessary losses.
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
9/10 Aussies to stop spending if personal data compromised
"Based on the patterns we are seeing among Australian consumers, it is evident that trust in a brand is exceptionally important."
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Story image
New SAS service overcomes subscription fatigue for media companies
SAS has launched SAS 360 Match which helps media companies move towards a AVOD model to generate revenue as subscribers cancel.
Story image
Digital Transformation
Why enterprise records management should be part of any digital transformation strategy
Modern organisations create and rely upon an enormous volume of content, and digital records make up a significant proportion of that content.
Story image
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Remote Working
How organisations can meet employees' changing expectations
The global employment market has shifted dramatically in favour of employees, sparking the so-called great resignation, in which people are leaving unsatisfying roles in search of greener pastures.
Story image
Data and analytics could be key to higher selling prices in APAC
Sisense's latest report has found that almost half of data professionals in APAC think customised data and analytics can create better selling prices for their products.
Story image
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub.