Survey: CFOs require more education regarding the cloud

According to a recent survey, chief finance officers need more training and education regarding cloud computing. The survey states many CFOs see the managed IT service as important; however, many do not fully understand the concept.

Most of the senior finance executives responding to the survey either have tentative plans to adopt the cloud or have none at all. Roughly 33 percent of respondents admitted a lack of knowledge regarding cloud computing, while close to 50 percent believe the service will lead to significant IT restructuring at their company.

Another recent survey, conducted by accounting and consulting organization BDO, found 72 percent of responding CFOs believe cloud computing will improve business agility, while 33 percent cited increased scalability as a benefit.

“Technology companies have switched gears from survival to growth mode,” said Hank Galligan, leader in the technology and life sciences practice at BDO. “The flexibility and scalability of cloud computing created cost-effective infrastructures that allowed adopters to weather the recession and emerge ahead of the curve.

With more companies realizing the benefits of cloud computing, the importance of cloud-educated CFOs has never been more important, especially considering industry regulations and compliance standards. IDC predicts the the public cloud network will reach $29.5 billion in revenue by 2015.