A recent study by Accenture revealed that businesses believe the cloud to have a significant impact on the business value and investment return they receive.
Indeed, it was found out that some businesses consider the cloud as a tool to save cost and be more effective, while others consider it as a launchpad for innovation and new operating models. The latter category is then able to achieve greater cost reduction, innovate and automate their supply chain/warehouse, and meet sustainability goals.
Hence, the study named these companies continuum competitors as they see cloud technology as a continuum of evolving technologies that will help to transform their business. However, it was reported that only 12% to 15% of businesses can be considered continuum competitors.
In order to move into the continuum competitor category, the study suggests using cloud technology for their innovation strategy, have an agile mindset outside of their technology, center their investment in cloud technology, and continually strategize and keep in pace with the latest strategies.