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Organizations should reevaluate current cloud spendings, CDW Canada report finds

Organizations should reevaluate current cloud spendings, CDW Canada report finds

CDW Canada, an organization specializing in technology solutions and services for Canadian businesses, has recently released its 2023 Hybrid Cloud report. The study focuses on the current landscape of hybrid cloud adoption within Canadian organizations for the year 2023. It highlights potential challenges with existing cloud expenditure, emphasizing the need for optimizing cloud spending.

According to CDW Canada’s 2023 Hybrid Cloud report, Canadian business CEOs have specific expectations regarding digital revenue. They foresee that, within the next five years, around 50% of their organization’s revenue will be generated from digital products and services.

To align their cloud spending with these digital business objectives, these organizations should reevaluate their allocation of resources for cloud services. It is crucial for them to efficiently utilize their budget for cloud services to ensure the most favorable returns on their investments in cloud technology.

“Having workloads and sensitive data deployed across the cloud enables flexibility, but Canadian organizations have a long way to go in ensuring that these environments are secure,” says James Charter, national practice lead of hybrid infrastructure at CDW Canada

The report highlights that businesses are not optimizing their expenditures on public cloud services. On average, about 18% of the budget allocated for public cloud services is not being effectively utilized. The report suggests that there is an opportunity for companies to enhance their resource allocation and utilization in the cloud.

The study introduces the concept of Financial Operations (FinOps), which is defined as a discipline in cloud financial management aimed at assisting organizations in extracting the maximum value from their cloud investments. As per the report, 55% of Canadian organizations have dedicated teams responsible for FinOps.

Teams responsible for IT FinOps have faced several challenges, including figuring out how to optimize cloud spending, accurately attributing cloud costs to the appropriate teams, and comprehending complex cloud pricing models. The report recommends that organizations can tackle these issues by collaborating with a cloud service provider capable of offering services to manage financial aspects across hybrid and multi-cloud environments.

“Hybrid, multicloud environments are the bedrock of collaborative business innovation. They are essential for supporting the increasingly pervasive digital business landscape, and organizations must know how to refine their cloud spend and maximize their potential for future endeavors,” adds KJ Burke, principal technology strategist of Hybrid Cloud at CDW Canada.

The 2023 Hybrid Cloud report from CDW Canada emphasizes the importance of third-party partners in ensuring the security and governance of hybrid and multi-cloud setups. The cloud environments present several advantages for organizations, allowing them to enhance their performance scalability while upholding security and compliance requirements.

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