Another significant part of the problem is that most organizations continue to fund their IT investments without aligning to revenue potential and innovative projects: two in three business decision makers said IT funding is too traditional and is stifling innovation, while one in three IT-decision makers admit their organizations’ IT funding models are hindering them from IT innovation, according to Oracle’s Putting Cultural Transformation at the Heart of Cloud Success report. For the research, Oracle partnered with Coleman Parkes to survey 600 senior IT and line of business decision makers across Europe and the Middle East
Time to change funding models
The findings reveal businesses must rethink their IT funding models and undergo a cultural transformation in order to fully exploit the benefits of cloud computing. One third (33%) of respondents say an inappropriate IT funding model is inhibiting their business. One third (33%) also believe their company’s IT culture is unfit for the cloud computing age.