Infosys Research: CPG and Retail Sector Underutilizes over 50% of Cloud Investments, Struggling to Effectively Manage Costs
Infosys has released its new industry report, Cloud Radar: CPG and Retail. The findings reveal major disparities in how retail managers handle cloud spending. These discrepancies, spanning prioritization, management, implementation and optimization, have resulted in an astonishing $300B of untapped revenue potential for the industry.
The Cloud Radar: CPG and Retail builds on Infosys’ latest Cloud Radar, delving into specialized research conducted with more than 50 industry practitioners, executives and subject matter experts across diverse Manage Costs industries and regions. The report underscores that while cloud adoption is fairly straightforward to implement, businesses grapple with the critical decision of selecting the right cloud solutions for their industry. Furthermore, achieving maximum ROI remains an elusive goal for many.
Cloud Radar: CPG and Retail Industry Report identifies four key findings:
- While cloud expenditure is growing, less than 50% of cloud services contracted are actually being consumed and more than half of CPG/retail leaders struggle to monitor cloud costs.
- While CPG/Retail companies are largely focused on strategic cost takeout, the primary motivation to move to cloud is driven by facilitating access to new technology or software and enabling new revenue streams.
- Retail/CPG companies are more likely to use the cloud for digital commerce and CRM over point-of-sale or in-store systems.
- Our survey found that 29% of CPG and 34% of retail organizations sometimes adopted new cloud services without the support of an approved business case.
To view the full report, please visit: Cloud Radar: CPG and Retail Report
