$414 billion in profits can be gained by using cloud for business growth: Infosys

Blue-chip software major Infosys says six regions worldwide can add up to 414 billion dollars in net new profits annually for businesses through effective cloud adoption.

Its Cloud Radar 2021 survey was conducted by Infosys Knowledge Institute (IKI) with over 2,500 respondents from companies across the United States, the United Kingdom, France, Germany, Australia and New Zealand.

It covered a range of business performance goals related to cloud and found specific links to competencies like speed to market and capabilities.

A strong profit link was identified when using cloud to rapidly bring new solutions and services to market. These investments provide a foundation to leverage artificial intelligence and automation, and build cloud-based new sources of revenue.

Specifically, these benefits are derived from business' ability to accelerate time-to-market, enhance business capabilities and build a competitive edge.

The study found that highest performing businesses had annual profits growth that correlated with using cloud in six ways: speed up how they develop and launch new solutions, add new functions to software in use, expand processing capacity, foster collaboration, unlock value from data via AI and discover new revenue sources.

Infosys President Ravi Kumar said effectively leveraging cloud is a transformational pillar in digital journeys. Where early cloud was a tool for allowing companies to rapidly scale, modern cloud allows companies to rapidly innovate.

"Today's cloud creates a network effect across processes, data, content, experience and more. This network effect keeps enterprises relevant in a rapidly changing new digital age," he said.

The findings from the Infosys Cloud Radar 2021 comprehensively show that growth and profitability can be correlated to superior enterprise cloud adoption and orchestration.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor