Global adoption of cloud technology is expected to save businesses about $150 billion in the next five years.
Already, the current investment value of the raving innovation in Nigeria has been put at $100 billion, and projected to rise above $110 billion within the next three years.
The Nigeria Country Manager, Oracle Corporation, Adebayo Sanni, said cloud adoption in the country is expected to significantly increase as companies’ focus more on speed of innovation, as ‘pay as you consume’ model becomes more adaptable.
Sanni, who described cloud computing as a style of computing where massively scalable and secure information technology enabled capabilities are delivered as a service to organisations, using Internet technologies, observed that these organisations can outsource part or all of their new and existing software and hardware infrastructure, thus allowing their core team focus on new innovative ways to help grow their businesses.
He explained that with the current political and economic situation in Nigeria and other parts of the world, with deep global depression due to oil prices, security, naira devaluation, slowdown in GDP, “the reality is that times are getting tougher and executives are searching for answers, consistently looking for alternative ways they can leverage technology to drive efficiency and also save cost.
“As such, increasingly, they are turning to the cloud, a financial shift from capital to operational expenditure, a true technology platform that allows these companies react more spontaneously to global economic events.”
Sanni stressed that two big commercial reasons cloud is so key today are that executives are being faced with enormous pressure to use technology to innovate and do so on faster cycles, speed and agility thus becoming pivotal.
He added that they also needed to deliver this innovation with much tighter IT budget largely due to stagnant revenue growth and razor thin margins as witnessed recently in oil and gas and manufacturing sectors.
“Today, cloud gives these executives compelling reasons to seek commercially viable alternatives for their IT team, allowing them focus on delivering innovative ideas rather than managing servers, operating systems and databases and huge support costs on their premises”, he stated.
Furthermore, Cloud adoption globally, according to the Nigerian CEO, has been phenomenal, point out that just over the last one year, Oracle has experienced amazing growth because of its ability to offer a breadth of cloud services; from software as a service, platform as a service and infrastructure as a service, allowing customers better speed of innovation when compared with conventional software maintained on their premises.