Cloud Momentum Building Despite Security Concerns

Cloud use is expanding rapidly as companies balance the cost and operational advantages of Cloud solutions against potential security and privacy concerns.
 
To better understand the current state and near-term future of Cloud adoption among finance leaders, Financial Executives Research Foundation (FERF) surveyed Financial Executives International (FEI) members about their organizations’ Cloud use, adoption plans, and any potential Cloud-related concerns.
 
Here are some of the key findings:
  • Nearly half (44 percent) of the finance leaders responding to the survey indicated that less than 25 percent of their company’s systems today are Cloud-based.
  • About one-half (49 percent) of those responding to the survey use a mix of Cloud and on-premise solutions in their finance functions.
  • One-fifth (20 percent) of the private company finance functions use Cloud solutions only.
  • About one-third of the finance leaders responding to the survey plan to adopt new Cloud solutions this year, and another fourth plan to adopt Cloud tools in 2017.
  • Data security, followed by privacy, topped the list of Cloud adoption concerns among respondents.