Enterprises for years have turned to the cloud for cost savings and scalability. But now that cloud is more pervasive, it has evolved to be a business growth enabler. Our research reveals enterprises that use cloud effectively can create a competitive edge and boost profits through growth, rather than merely reduce costs.

Cloud is now an indispensable lever for enterprises to accelerate innovation, bring about digital transformation and achieve faster time to market. It has enabled new models of work, including remote working, collaboration, and rapid innovation at scale.

These findings and others come from an Infosys’ survey of more than 2,500 business and IT executives across five countries and 12 industries, carried out between November 2020 and January 2021. The findings backed up what we all already had sensed: Cloud adoption continued to accelerate, doubling every two years, and has grown to touch all aspects of business. More interestingly, the survey revealed that cloud could deliver new capabilities that impact profit growth.