Seventy-six percent of U.S. firms will rely on cloud computing for IT activities in the next three to five years, according to a recent Duke/CFO Magazine Global Business Outlook Survey.
The shift to the cloud—where information is saved and shared over an online network, rather than on office-based harddrives— will continue despite lingering concerns about security, integration with existing systems, and functionality expressed by CFOs surveyed.
“The practical advantages of cloud computing are winning out over the potential drawbacks of dealing with a stilldeveloping technology,” says John Graham, professor of finance at the Fuqua School of Business and director of the survey. “Companies appear to be embracing cloud computing as a new IT paradigm.”
Up in the Air
Cloud computing on the rise
October 1, 2011