CFOs getting closer to IT thanks to cloud

News 29 Mar, 2012

New research from Google claims the CFO will be more involved in IT thanks to the booming cloud market.

Research launched by Google today revealed chief financial officers (CFOs) will engage more in IT as cloud computing continues its rise in popularity among businesses.

The survey was conducted by Vanson Bourne in January 2012 among 100 senior decision makers within the finance functions of large UK-based companies.

According to the study, 50 per cent of financial business leaders believe CFOs will become more influential in the purchasing and management of IT services as cloud deployments continue to grow.

Support for the cloud is still on the up, as 66 per cent of senior financial decision makers believe the cloud increases the IT department's contribution to corporate strategy. Also, 69 per cent believe cloud computing boosts the IT department's ability to innovate.

A majority of respondents – 93 per cent – said cloud will be important to the success of their company over the next 12 to 18 months, while 94 per cent agreed the technology provides their businesses with notable benefits, including reductions in IT maintenance costs, IT spending and operational costs and improvements in process efficiency within business.

Overall, 64 per cent believe that cloud computing is more beneficial to business than traditional outsourcing.

Thomas Davies, head of Google enterprise for the UK and Ireland, explained why more businesses are being persuaded to make the switch.

"The benefits of cloud computing go far beyond the obvious cost savings on software and reducing the burden of maintenance," he said.

"The fact that 93 per cent of surveyed CFOs believed that cloud computing would be important to the success of their company in the next year to 18 months underlines that the board has woken up to the benefits of the cloud.”