— New IBM Transformation Index: the State of Cloud helps business leaders to assess gaps in their transformation journey
— More than half of respondents are currently concerned about security, while 53% believe ensuring compliance in the cloud is currently too difficult
— Nearly 70% surveyed say their team lacks the skills needed to sufficiently manage cloud environments
SINGAPORE, Sept. 30, 2022 /PRNewswire/ — New global market research from IBM (NYSE: IBM) revealed that more than 77% of respondents have adopted a hybrid cloud approach which can help drive digital transformation, yet the majority of responding organizations are struggling with the complexity to make all their cloud environments work together. As organizations face skills gaps, security challenges, and compliance obstacles, less than one-quarter of respondents across the globe manage their hybrid cloud environments holistically – which can create blind spots and put data at risk.
The IBM Transformation Index: State of Cloud commissioned by IBM and conducted by independent research firm, The Harris Poll, was created to help organizations map their cloud transformation and empower them to self-classify their progress. Built on a foundation that leverages insights from experienced cloud professionals, enterprises can use the Index to gain measurable metrics that can help quantify their progress and uncover areas of opportunity and growth. The Index consisted of more than 3,000 business and technology decision-makers from 12 countries and across 15 industries including financial services, manufacturing, government, telecommunications and healthcare, to understand where organizations are advancing, or merely emerging, on their transformation journeys.
The Index points to a strong correlation between hybrid cloud adoption and progress in digital transformation. In fact, 71% of those surveyed think it’s difficult to realize the full potential of a digital transformation without having a solid hybrid cloud strategy in place. At the same time, only 27% of those surveyed possess the necessary characteristics to be considered as “advanced” in their transformation. So, why the disconnect? A sampling of findings include:
Compliance: Businesses believe ensuring compliance in the cloud is currently too difficult – especially as we see enforcement of regulatory and compliance requirements heat up across the globe.
Security: While businesses have embraced a variety of security techniques to secure workloads in the cloud, concerns about security still remain.
Skills: As organizations face the realities of a talent shortage, they are failing to implement a holistic hybrid cloud strategy – which can create gaps in security and compliance and cause risk across cloud environments.
“As we see regulatory requirements grow across the globe, compliance is top of mind for business leaders. This concern is even greater for those in highly regulated industries. Yet at the same time, they are facing a growing threat landscape – one that demands holistic management of their multicloud environments to avoid the risks of a Frankencloud – an environment that’s so disconnected, it’s difficult to navigate and can be nearly impossible to secure, particularly against third and fourth party risks,” said Howard Boville, Head of IBM Cloud Platform. “An integration strategy to bring together these different piece parts is what we believe separates the leaders from the rest of the pack – the alternative is to pay the price of the Frankencloud.”
“The key value of cloud for businesses is rapid access to innovative technologies, data sources, and applications required to navigate current disruptions and transform businesses. No individual cloud can address all of an enterprise’s requirements, so they must be able to use and effectively control hybrid cloud assets across many locations. IBM with its focus on providing a holistic hybrid cloud strategy is well positioned to help organizations address the security, data management and compliance complexities that can prevent them from taking full advantage of cloud innovation,” says Rick Villars, Group Vice President of Worldwide Research at IDC.
The 2022 IBM Transformation Index: State of Cloud revealed:
Lack of the right skills is inhibiting progress
When it comes to managing their cloud applications, 69% of respondents say their team lacks the skills needed to be proficient. This is a major roadblock to innovation, with more than a quarter of respondents saying skills and talent shortages are impeding their business’s cloud objectives. The effects don’t stop here – these limitations are also preventing organizations from leveraging the power of partnerships. More than one-third of respondents say a lack of technical skills is holding them back from integrating ecosystem partners into cloud environments. This challenge is even greater in the US, where nearly 40% admit to this lack of skills – pointing to the need for talent.
Exposure to cyberthreats continues to lurk despite embracing security techniques
While more than 90% of responding financial services, telecommunications and government organizations have adopted security tools such as confidential computing capabilities, multifactor authentication and more, gaps remain that are preventing organizations from driving innovation. In fact, 32% of overall respondents cite security as the top barrier for integrated workloads across environments and more than one quarter of respondents agree security concerns present a roadblock to achieving their cloud business goals.
Security concerns can even hold organizations back from unlocking the full potential of partnerships. As potential security gaps can cause third and fourth party risks to loom, respondents say data governance (49%) and cybersecurity (47%) are the top challenges to fully integrating their business ecosystem into the cloud. In Brazil, cyberthreats are an even greater concern to ecosystem innovation — 51% say cybersecurity risks pose a major challenge for businesses that want to integrate business ecosystem partners into cloud environments.
Regulatory and compliance requirements remain center stage causing businesses to pause
With regulations on the rise, so too are compliance challenges. 53% of respondents believe that ensuring compliance in the cloud is currently too difficult and nearly one-third cite regulatory compliance issues as a key barrier for integrating workloads across private and public IT environments. In financial services, for example, more than a quarter of respondents agree that meeting industry requirements is holding them back from fully achieving their cloud objectives. These challenges span the globe and are especially prevalent in countries such as Singapore, China, India and Japan.
Based on the Index, IBM will launch an interactive tool to serve as a continual source of feedback for organizations to measure their transformation progress. With the ability to help companies assess how they fare against others; the tool will allow them to identify areas where transformation is stalled and where it may be excelling – unlocking the ability to diagnose and act with efficiency even against the real-world of complexity of cloud transformation.
IBM will make the IBM Transformation Index: State of Cloud tool publicly available in the coming months, aiming to provide business leaders with valuable benchmarking insights that can inform their hybrid cloud strategies. The IBM Institute for Business Value also published a new report, “A Comparative Look at Enterprise Cloud Strategy” with an action guide for how leaders can use the Index to help advance their organizations’ digital transformation.
Singapore Fact Sheet
The IBM Transformation Index: State of Cloud points to a strong correlation between hybrid cloud adoption and progress in digital transformation – 77% of those surveyed in Singapore think it’s difficult to realize the full potential of a digital transformation without having a solid hybrid cloud strategy in place. (Global is 71%)
Hybrid cloud offers the power of choice – enabling enterprises to host workloads wherever they need to be. Industry clouds such as IBM Cloud for Financial Services are key to a successful hybrid cloud strategy for enterprises in highly regulated industries to reduce risk while driving innovation.
Enterprises aren’t holistically managing their hybrid cloud infrastructures for a number of reasons – concerns over security, skills, and compliance. These concerns are getting in the way of reaching the full potential of the hybrid cloud – creating blind spots that can put data at risk. The conversation has shifted – it’s no longer hybrid, it’s how to do it better to derive business value.
In Singapore, hybrid cloud is the dominant architecture, but enterprises aren’t holistically managing their infrastructures for several reasons – concerns over security, skills, and more.
More than three-quarters (77%) of those surveyed in Singapore agree that without a hybrid cloud strategy, it’s difficult to realize the full potential of a digital transformation.
Hybrid cloud has become the dominant architecture (78% use one in Singapore), yet less than a quarter (25%) of respondents in Singapore manage their cloud environments holistically.
In Singapore, difficulty managing complex environments (44%), regulatory compliance (38%), and security are the top barrier to integrating workloads across cloud environments.
Regulatory and compliance roadblocks stand in the way of cloud goals in Singapore
Regulatory and compliance limitations are holding organizations in Singapore back from fully achieving their cloud goals.
Over a quarter of respondents in Singapore cited regulatory compliance issues as a key barrier to integrating workloads across private and public IT environments (38%).
Businesses in Singapore have the tools to secure their workloads in the cloud, but roadblocks indicate there remains a gap of some sort — either in understanding, skills, trust, or technology
More than half (57%) of respondents in Singapore agree/strongly agree that “The Public Cloud is not secure enough for much of our data.”
Security & compliance is cited in Singapore as one of the top reasons (32%) for moving work off the cloud; Security concerns also present a roadblock (22%) in Singapore to achieving cloud business goals.
High rates of adoption for all security tools in Singapore – Confidential computing, multifactor authentication, single sign-on, VPN, Virtual Desktop Interface, DevSecOps, Zero trust.
Lack of skills and talent in Singapore is holding back cloud initiatives
Businesses in Singapore struggle to have the right talent to help them manage their cloud applications 77% of respondents in Singapore said their teams lack skills to be proficient.
Lack of technical skills is among the top 3 challenges (34%) for businesses that want to integrate business partners into their cloud environments.
Lack of talent or skills remains a roadblock for companies in Singapore – with more than a quarter (34%) of respondents saying it impedes them from their cloud objectives.
Data privacy concerns are holding back enterprises in Singapore from unlocking the full potential of partnerships in the cloud
Data governance (55%) and cybersecurity (49%) are the top 2 challenges in Singapore to fully integrate their business ecosystem into the cloud.
34% of respondents in Singapore cite a lack of technical skills as a hindrance to integrating ecosystem partners into the cloud.
Methodology:
This survey was conducted online in 12 countries (US, Canada, UK, Germany, France, India, Japan, China, Brazil, Spain, Singapore, Australia) by The Harris Poll on behalf of IBM from June 8th, 2022 to July 17th, 2022. The survey was conducted among 3,014 IT and business professionals in companies with annual revenue over $500M who have deep knowledge of their organization’s Cloud strategy. The IBM Transformation Index: State of Cloud was developed by combining the data from 25+ question batteries of various formats across 9 Cloud-related dimensions that were informed by input from industry experts.
About IBM
IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com.
Media Contact
Seri Rahayu
External Communications
IBM ASEANZK – Singapore & Vietnam
seri.rahayu@ibm.com
+60122106907 (Mobile)
Selvi R
Communications Leader
IBM ASEANZK & Singapore
selvir@sg.ibm.com
+65 9795 4165 (Mobile)
SOURCE IBM Singapore
Related Quotes
Shares of the large crypto exchange Coinbase (NASDAQ: COIN) traded more than 8% down as of 12:45 a.m. ET today, as stocks sold off today and after an analyst initiated coverage on the stock. Wells Fargo analyst Jeff Cantwell initiated coverage of Coinbase with an underweight rating, largely on the belief that other large competitors like Binance and FTX will prove to be insurmountable competition. Coinbase has already seen its trading fees compress, and more compression is expected as the environment gets more competitive.
Britain's biggest sportswear retailer JD Sports Fashion has extended its links with Nike Inc with a deal that gives its customers access to more of the U.S. brand's footwear and apparel. The retailer said on Friday it would be Nike's first European retail partner for its Connected Partnership loyalty programme, giving JD customers, starting in the United Kingdom, access to select Nike member-only products, such as the Nike Blazer Pro trainers. "In terms of partners that Nike are working with, they're working with less but more important partners and we intend to be one of those landmark partners," Sherilyn Paterson, JD Sports' group merchandising director, said.
A brand long associated with being a 'value' choice now commands the biggest markup over its showroom sticker price.
(Bloomberg) — Amazon.com Inc. announced a pay increase for hourly workers in the US that it says will take average starting wage for most front-line employees in warehousing and transportation to more than $19 an hour.Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandMeta to Cut Headcount for First Time, Slash Budgets Across TeamsTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoStocks Plummet to 22-Month Low as Fed Hawks Circle: Market
Liverpudlian Mike Welch's career turned when he wrote a letter to then Tesco CEO Terry Leahy as a young teen asking for a meeting.
Tesla's billionaire CEO is resentful, never failing to remind his opponents of their past battles.
General Motors CEO Mary Barra yesterday apologized to salaried workers for the timing of a memo sent late Friday afternoon outlining a new back-to-office policy and delayed the implementation of the plan. The email said that GM employees who had been working remotely during the pandemic would be required later this year to return to the office at least three days a week, the Detroit Free Press reported. The email triggered employee pushback about both the updated policy and the timing of the announcement, leading Barra to partially walk back the decision, announcing Tuesday that the automaker will not implement the requirement this year but that “a more regular, in-person presence” will still be the plan for the future.
Bitcoin edged higher to remain above US$19,000 in early Friday morning trading in Asia, after fluctuating around that resistance level all week. Ether dipped, while XRP led the gainers among the cryptocurrency top 10 by market capitalization. See related article: Markets: Bitcoin, Ether rise; BNB leads gainers in top 10 crypto, followed by Solana Fast […]
Meta employees were told that the company will be implementing a hiring freeze and will be taking more steps to reduce costs.
Creating income for retirement is one of the biggest challenges American workers have in planning for how they will be able to live comfortably once they stop working. One of the most common ways to create this income is to … Continue reading → The post If You Have This Much Money Saved You Don't Need an Annuity appeared first on SmartAsset Blog.
The restaurant chain is the latest to introduce a subscription model. It isn't the only one.
Nike said inventories rose 44% to $9.7 billion in the latest quarter, and higher discounts and freight costs squeezed profit margins.
In the weeks after Russia's invasion of Ukraine on Feb. 24, Claudio Descalzi, CEO of Italian energy major Eni, embarked on a whirlwind of trips to gas suppliers in Africa. The visits included meetings with officials in Algeria in February plus talks in Angola, Egypt and Republic of Congo in March, with Descalzi often accompanied by senior Rome officials, according to company and government releases. State-controlled Eni and Italy were able to leverage existing supply relationships with those nations to secure extra gas to replace a large part of the volumes it received from its top supplier Russia.
The Boeing Co., which carries an economic heft in Ohio and the Dayton region, has secured a large order.
Since the announcement that Taiwan Semiconductor would build a massive chip factory in Phoenix, the Valley's semiconductor supplier network has seen about 15 new semiconductor-related commercial projects, representing $12.4 billion in investments, according to the Greater Phoenix Economic Council.
Bankers texting away on their personal phones are costing the biggest banks on Wall Street chunk of money.
After a decade of explosive growth, the company formerly known as Facebook is planning to trim down. Bloomberg reports that Meta CEO Mark Zuckerberg announced plans to freeze hiring and restructure some groups within the company Thursday in an internal all-hands call. According to Bloomberg, Meta plans to shrink budgets widely within the company, including to teams that it was recently investing in.
Marriage can affect how you do your taxes, make money and plan for retirement. If your marriage ends, it's important to know the rules regarding divorce and Social Security. Who's eligible for what benefits, how much can you collect and … Continue reading → The post Social Security Rules After a Divorce appeared first on SmartAsset Blog.
A local battery startup now has a big-time auto industry partner. General Motors Co. has signed a research-and-development deal with and has invested in OneD Material Inc., the companies announced Thursday. Palo Alto-based OneD has developed a process of increasing battery capacity by adding silicon to their anodes.
The stock market may not look like a good place to be right now, as the Federal Reserve's hawkish nature has sent equities tumbling in 2022, but this has opened a solid opportunity for savvy investors to buy some great companies at attractive valuations. Qualcomm (NASDAQ: QCOM) is one such company that investors may want to buy hand over fist right now, especially after its latest announcement pointing toward a massive acceleration in its automotive business. On Sept. 22, Qualcomm said in a news release that its design win pipeline in the automotive market has now increased to $30 billion thanks to the growing adoption of its Snapdragon platform in the auto industry.