A recent report from Epicor revealed that most essential businesses in the US are adopting the cloud.
Indeed, it was found out that around 94% of essential businesses are moving to the cloud, which is a rise of 25% from those declaring wanting to make cloud a strategic priority in 2020. It is also expected that 61% of mid-sized businesses will be expanding in size and scaling in the next three years.
The study stated that the most essential business leaders are leaning into the accelerating forces of COVID-19 to leap forward. 55% of respondents then expect that organizations will create new jobs with 63% expecting new job creation among businesses already on the cloud.
It was also revealed that 94% of business leaders believe that the cloud will help future-proof their businesses and 82% that it has accelerated their cloud migration plans with the pandemic. Some of the reasons for moving to the cloud are improved security via encryption, multi-factor authentication, better monitoring, and quality control.
On the other hand, the challenges linked to the cloud are security and risk mitigation, the cost of ownership, time to implement, and customization to unique business needs.
The report also stated that there would be a 68% predicting growth among businesses that are already on the cloud. The retail and manufacturing industries were said to be among the most optimistic about the expansion.
Moreover, it was found out that 91% believe that this technology is critical to achieving their business expansion plans. Hence, 72% of businesses are updating their IT solutions within six months while 21% do it in near real-time.