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Companies around the world are increasingly adopting a multi-cloud approach to cloud storage, which could now be the key to business success according to storage company Seagate.

The company defined companies as "mature multi-cloud" or not, with mature companies better able to manage cloud costs and drive innovation within the cloud.

Seagate says that these "mature" companies have many competitive advantages, including exceeding their revenue goals by almost twice as much as their less mature counterparts.

How do mature multicloud companies position themselves?

Storage company research suggests that mature multicloud companies are 6,3 times more likely to go to market months or quarters earlier than their competitors, and nearly three times more likely to say their organization is in a very good business position. solid.

Furthermore, the Seagate report states that these mature companies are more than three times as likely to expect their business valuations to increase fivefold over the next three years.

"When you're trying to test the link between actions and outcomes with research, you never really know if your hypothesis will hold up," said Adam DeMattia, senior director of custom research at ESG. "The report makes it clear that an organization, through its actions, can make a difference in both cloud costs and innovation outcomes."

He added: “What is unique about this research is how we see that combining cloud cost action and driving innovation with cloud operating models can have a huge impact on the overall health of the business.”

It seems that many companies agree with Seagate on the benefits of a multi-cloud approach. Flexera's new State of the Cloud report found that almost all enterprises have adopted multicloud, with 93% now using multiple cloud service providers.

Although IT professionals recognize the benefits of multicloud, security risks still surround the technology.

Virtually all (98%) of the security professionals responsible for these multi-cloud environments report that relying on multiple cloud providers also creates additional security issues, according to IT security firm Tripwire.

The multicloud space is largely controlled by a select few giants of the cloud hosting world, including Google Cloud, Amazon AWS, and Microsoft Azure.

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