Companies that engage with cloud-based technology enjoy a number of benefits. However, until recently, businesses have seen cloud computing mainly as a tool to lower costs and improve their efficiency.
While these considerations are important, the focus has begun to change in recent years, with greater attention now being placed on the different advantages cloud computing can bring to a business.
One of these aspects is across innovation, with KPMG highlighting how companies are now using cloud computing as a way to drive greater innovative processes within their companies. Central to this process is the role that cloud-based technology can play in unlocking greater connections across a company, facilitating the transition of ideas.
There is also the impact that lower costs can play in unlocking greater innovation. With fewer resources needed by cloud-based IT services, companies are now able to invest more in other corporate processes, allowing for greater innovation.
More and more companies are also turning to this process in order to drive greater innovation within their business. In fact, IBM has estimated that the number of companies using using cloud computing to drive innovation will double over the next few years.
Whereas 16 per cent of companies currently use cloud computing to drive innovation, this number is expected to grow considerably over the next few years, almost doubling to 35 per cent.
ASPAC Lead for Cloud Enablement at KPMG Jonathan Taylor suggested that innovation is becoming increasingly important for those pursuing cloud technology.
"Innovation is said to be the last key differentiator for organisations and although manifested in many different ways there are common themes. It's not just about product and customer outcomes themselves – now its also about how you deliver those outcomes in an agile and cost-effective way," said Mr Taylor.
As these trends become more concrete over time, it is going to become more important than ever to invest in innovative processes that can give your company a competitive advantage.