We consider the key trends that will define 2018’s key business challenges… Plagued by cyber-attacks and skills shortages...
July 26th 2016
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.
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 the United Kingdom, France 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.”