- New EIU report shows that 72% of executives believe organisational resilience will grow as an organisational priority over the next three years
- Executives who say their organisation is ahead of the competition in cloud adoption are nearly three times as likely as laggards to say they outperform competitors on organisational resilience to technology risk
- More than 70% of executives who call their companies industry leaders in cloud adoption also say their companies outperform their competitors in profitability versus only 26% of self-reported cloud laggards
A report published today (July 26th) by The Economist Intelligence Unit (EIU) highlights the importance of shoring up organisational resilience to respond to the opportunities and risks cloud computing brings.
Cloud complexity, the need for resilience, sponsored by Sungard Availability Services, explores the role of resilience in a world with a growing cloud presence.
Organisational resilience, as defined for this study, means that managers are no longer reactive but instead proactively anticipate and prepare for both sudden and gradual strategic shifts. How companies build resilience must be linked to an organisation’s overall business strategy and requires broad mobilisation of corporate capabilities across an organisation and strong corporate leadership. Roughly 71% of respondents say their organisation has clearly defined roles and responsibilities to ensure organisational resilience.
In a survey conducted in France, the United Kingdom and United States for this report, nearly two-thirds (65%) of executives say that more than half of their organisations’ systems are already cloud-based and 78% say that their use of cloud computing will increase in the next three years.
The cloud helps organisations rapidly add new IT capabilities and applications, often at a lower lifetime cost. But the cloud introduces more external players and potential breakage points. The most commonly cited risks are security breaches and leaks of confidential information (53%), disruptions caused by cyber-attacks (52%) and potential failure to deliver product or services (46%).
“The cloud brings many benefits including collaboration and cost savings,” said Carolyn Whelan, the report’s editor. “But because of its fragmented nature the cloud also brings risks. Our survey shows that organisational resilience will grow in importance along with the cloud, to capture value from and respond to its challenges.”
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Notes to editors
About the survey
The report is based on a March 2016 survey of 304 executives evenly dispersed across France, the UK and US on their organisational resilience and technology adoption. Respondents hail from a number of industries, including IT and technology (15%), financial services (13%), professional services (8%), manufacturing (7%) and 15 other sectors (collectively 57%). They hold the titles of chief information officer (50%), senior vice president (12%), vice president (15%) or head of IT (23%). The companies they represent earn between $50m and $500m (45%), or more than $500m (55%) in annual revenue.
About the Economist Intelligence Unit
The Economist Intelligence Unit is the world leader in global business intelligence. It is the business-to-business arm of The Economist Group, which publishes The Economist newspaper. The Economist Intelligence Unit helps executives make better decisions by providing timely, reliable, and impartial analysis on worldwide market trends and business strategies. More information can be found at www.eiu.com or www.twitter.com/theeiu.
About Sungard Availability Services
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