New research found that IT leaders use multiple cloud providers to benefit from reduced costs and more control over their data
SINGAPORE, April 3, 2023 — Customers are looking at multiple cloud providers to meet their enterprise requirements. Multicloud is the reality in enterprise technology according to a study from 451 Research, part of S&P Global Market Intelligence, commissioned by Oracle. The study collected information from 1,500 respondents at enterprises about how they use the cloud within their organization and found that almost every cloud journey is now becoming a multicloud journey. Read the full report here.
Cloud adoption has become synonymous with how enterprises build business agility and operational efficiency. While these trends have existed for some time, more than 90 percent of Asia Pacific respondents agreed that the COVID-19 pandemic has been a strong driver of greater interest and investment in cloud technology. As organizations faced new challenges such as increased levels of remote work and collaboration with new business partners and suppliers, they adopted a multicloud strategy to gain the flexibility and scalability they needed for this new reality.
“The ‘one-stop-shop’ mentality has died when it comes to the cloud. Instead, multicloud is the reality of enterprise technology environments as these organizations seek to get the right mix of solutions and capabilities they need to operate effectively,” said Melanie Posey, research director, Cloud & Managed Services Transformation at 451 Research. “Multicloud is here to stay, and enterprises are choosing this model for the benefits it provides for a range of different business and operational requirements, like business agility or access to best-of-breed technology.”
Key findings from the study include:
Almost every cloud journey is multicloud
- 97 percent of Asia Pacific enterprises surveyed are using or plan to use at least two cloud infrastructure providers and 35 percent are using four or more.
- 95 percent of Asia Pacific respondents reported they are using or plan to use at least two cloud application providers (Software-as-a-Service), with more than 48 percent using cloud applications from five or more providers.
- This multicloud strategy allows IT departments to meet the specific technology needs of different teams across the organization.
Data sovereignty and cost optimization are driving demand for multicloud strategies
- The top two drivers of multicloud strategies in enterprises are data sovereignty (44 percent) and cost optimization (40 percent).
- Other drivers of multicloud strategies include business agility and innovation (32 percent), best of breed cloud services and applications (27 percent) and cloud vendor lock-in concerns (26 percent).
- Multicloud strategies give enterprises more control over where and how their data is stored and used, while also ensuring businesses can control the costs of their cloud operations by adjusting which services they use from different providers.
Enterprise organizations are proactively planning multicloud strategies for the future
- Data redundancy (56 percent) is the most anticipated future use case, followed by data mobility (52 percent) and cost optimization across public clouds (45 percent).
- IT departments also plan to use multicloud strategies for risk mitigation for the entire IT environment (41 percent) and geographic expansion or global service delivery (44 percent).
- The fact that IT departments are planning multicloud strategies shows that they see multicloud as a way to get ahead of their technology needs, instead of simply a tactic to react to crises.
“Customers are on-boarding new cloud providers to accelerate their digital transformation goals. They want to get their existing mission critical workloads on the cloud faster, without the cost or risk of having to re-write, to then tap into the innovation areas driven by machine learning and AI” said Chris Chelliah, senior vice president, technology and customer strategy, Oracle Japan and Asia Pacific. “Unique among hyperscale providers, Oracle Cloud Infrastructure (OCI) offers customer choice to deploy workloads where they best fit – on-premises, on the public cloud or even across multiple clouds. With the recent introduction of MySQL HeatWave on AWS and Oracle Database Service for Microsoft Azure, Oracle has broken down the wall between cloud providers, so that customers can achieve their business outcomes.”
This research validates the approach OCI has taken with its distributed cloud and management offerings, which earned Oracle recognition as a leader in the recent Omdia Universe: Hybrid and Multicloud Management Solution, 2022–23 report (December 2022). Read a complimentary version of the report here.
The survey data used in this report was collected by 451 Research, part of S&P Global Market Intelligence, and commissioned by Oracle. The global survey was fielded in the third quarter of 2022 and is based on a cross-industry sample of 1,500 enterprise respondents in North America, Europe, Asia-Pacific, the Middle East, and Latin America.
About OCI’s Distributed Cloud
OCI’s distributed cloud offers customers the benefits of cloud with greater control over data residency, locality, and authority, even across multiple clouds. OCI’s distributed cloud features the following:
- Multicloud: OCI’s multicloud capabilities such as Oracle Database Service for Microsoft Azure and MySQL HeatWave give customers the choice to pick the best cloud provider for their applications and databases.
- Hybrid cloud: OCI delivers hybrid cloud services on-premises via Oracle Exadata Cloud@Customer and manages infrastructure in over 60 countries.
- Public cloud: Today, OCI operates 41 OCI regions in 22 countries, with 9 more planned, including two sovereign cloud regions for the EU.
- Dedicated cloud: OCI delivers dedicated regions for customers to run all Oracle cloud services in their own datacenters, and Oracle Alloy will enable partners to customize the cloud services and experience for their customers.
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.
About Oracle CloudWorld Tour
Oracle CloudWorld Tour is Oracle’s global celebration of customers and partners. Join us to discover the insights you need to tackle your biggest business challenges, build your skills, knowledge, and connections, and learn more about our cloud infrastructure, database, and applications from the people that build and use them. For live keynotes, session details, news and more visit oracle.com/cloudworld-tour or oracle.com/news.
Climate tech Startup Bio-Logical raises $1m Seed round: Kenya’s Agricultural Sector to Get a Boost from Bio-Logicals Landmark Biochar Carbon Removal Facility
Climate tech company Bio-Logical has raised a $1m seed round to scale up its operations in Kenya, facilitating its mission to build climate resilient communities of smallholder farmers around the world.
Smallholder farmers are facing a dire outlook with faltering harvests, increasingly extreme weather and skyrocketing fertiliser prices becoming increasingly common due to climate change. Bio-Logical addresses this challenge through a circular economy, transforming waste into biochar, a super material that sequesters carbon for millenia and regenerates degraded soil. Their biochar is then incorporated into an organic fertiliser which is distributed to smallholder farmers in the region, regenerating land, increasing crop drought resistance and boosting yields by over 50%.
“Bio-Logical was founded on the belief that Smallholder farmers should not suffer at the hands of a climate crisis they have played no part in. At present, soil degradation and changing weather patterns due to climate change is directly threatening the livelihoods of 500 million smallholder farmers around the world.” Rory Buckworth, Co-Founder
Utilising its innovative technology, Bio-Logical’s first site will be the largest biochar production facility in Africa. It will transform over 30,000 tonnes of agricultural waste a year into biochar, sequestering 25,000 tonnes of CO2. This process will generate carbon credits, the revenue from which will be used to subsidise its resilience building fertiliser for smallholder farmers, boosting yields and reducing fertiliser costs.
“We believe carbon credits should do more than simply remove carbon from the atmosphere and instead should be used to build the resilience of climate vulnerable communities” Philip Hunter, Co-Founder
The funding round is led by the Steyn Group alongside Angel Investors Rob Konterman, Luke Calcott-Stevens and Jochem Wieringa. The round will go towards the development of Bio-Logical’s first Kenya site which will pave the way for its expansion throughout the region that will see the company scale to support 1 million smallholders and sequester 1 million tonnes of CO2 annually by 2030.
According to setscale, More than 50% of US Small Businesses are Unaware of Federal Government Contracts, Losing $84 Billion a Year in Valuable Deals
Setscale, a purchase order financing company, reports on small business financing, highlighting the lack of access to US government contracts
Setscale, the purchase order financing company, released today its first-ever report on US small business financing. The report surveyed US small business owners to better understand some of the financial barriers to small business ownership, including their awareness of federal government contracts for small businesses.
More than half (52%) of all surveyed small business owners revealed that they aren’t aware of the specific contracts the US federal government awards to small businesses each year, missing out on approximately $84 billion* per year.
Government contracts are well-valued and often serve as a gateway to a steady source of income and small business growth. More than 70% (71%) of surveyed US small businesses say that they’re aware of lucrative and reliable government contracts, but more than half (52%) say they don’t know what specific contracts are available to them. And over a quarter of US small businesses (29%) are completely unaware that the federal government awards contracts to small businesses.
This report highlights that the federal government is investing in small businesses in record-high amounts, but business owners are still struggling to fill open government purchase orders. Almost 70% (69%) of US small businesses struggle with cash flow and working capital, preventing them from meeting the demand of a government contract. Many businesses pursue lines of credit from a bank or financial institution to fulfill purchase orders, but these are costly and hard to obtain. Alternative finance like purchase order financing can help these businesses secure and fulfill valuable government contracts.
Moreover, US small business owners say that a lack of cash flow and working capital prevents them from securing government contracts. At 22%, a lack of cash flow or capital is the second most popular reason that prevents US small business owners from securing a government contract. The most popular reason they aren’t securing government contracts is due to a lack of time and resources (25%).
“Our small business financing report sheds light on an issue that more than half of surveyed business owners know all too well – that even though the US federal government is awarding a record number of contracts to our small businesses, they’re still struggling financially to fulfill open purchase orders, potentially losing out on more than $80 billion each fiscal year,” comments Daniel Fine, Founder and CEO of Setscale.
“Government contracts are fierce competition for US small business owners for a reason. They’re reliable, well-valued, and often lead to steady sources of income. However, due to a lack of knowledge of the specific government contract awarding process, business owners are unsure if they can fulfill the government’s open purchase orders without pursuing a line of credit from a bank or financial institution,” elaborates Fine. “With interest rates at an all-time high, it’s an incredibly bad time to be a borrower. PO financing allows a small business to quickly bid on a contract, finance the full transaction, and scale operations to meet the size of the order.”
*In Fiscal Year 2022, the US federal government awarded $162.9B in federal contracting opportunities to small businesses. 52% of surveyed US small business owners reported that they aren’t aware of the specific contracts the US federal government awards to small businesses * $162.9B = $84B in lost opportunities.
Setscale designed and executed research for this report in collaboration with Censuswide. 251 US small business owners in companies with less than 50 employees (aged 18+) were surveyed online in October 2023. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles.
Setscale is a fintech startup solving the trade financing dilemma for small businesses. Small businesses frequently get purchase orders, but don’t have the money to fill them. Through its PO financing technology, Setscale finances the cost of those goods, allowing small businesses to focus on product and sales, enabling them to scale. Setscale is an ideal partner for SMBs, coming in where traditional financial institutions won’t, enabling SMB’s to finance their growth. Setscale funds supply. You meet demand.
Monsha'at leads delegation of Saudi startups at Web Summit 2023
As part of its work to showcase the growth of the Kingdom’s SME sector, Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, took part in Web Summit 2023: one of the world’s leading technology conferences.
Held from 13 to 16 November 2023 — in Lisbon, Portugal — the event provided Monsha’at the opportunity to spotlight Saudi Arabia’s most innovative SMEs. The authority led a delegation of Saudi start-ups, calling attention to their success and contributions to the national economy. Moreover, the event provided a platform for industry leaders, including policymakers, heads of state, and tech CEOs and founders, to address global challenges.
Sami Al Hussaini, Governor of Monsha’at, said: “2023 has been a landmark year for Monsha’at and the Saudi SME sector, with the number of start-ups in the Kingdom growing to over 1.2 million. While we have made a great deal of progress, we can achieve more. Launching innovative partnerships with businesses and entities around the world is essential. Events such as Web Summit 2023 enable us to do that, immersing some of our leading start-ups in an energized environment conducive to collaboration, innovation and growth.”
Saudi Arabia’s start-up ecosystem is currently undergoing a period of rapid growth. Amid the continued expansion of its non-oil sector, the Kingdom achieved one of the highest economic growth rates in the world last year and has been recognized as one of the best-performing countries in terms of leveraging reforms to improve its business environment. In Q2 2023, the Kingdom led the region in VC funding and capital raised, accounting for 42% of MENA funding at a value of $446 million.
Among the Saudi start-ups participating in Web Summit 2023 were: Zid, Lendo, Nuqtah, Syarah, Asasat Advanced Systems, Wosul, Kabi, Master Works, resal, WhiteHelmet, Mustadem, and Tachyon.
Monsha’at’s participation at WebSummit follows its recent participation in other world-class conferences, including SWITCH Singapore, and ComeUp Korea, where it has helped connect some of the Kingdom’s leading start-ups with the international business and investment communities.
Monsha’at was established in 2016 with the aim of regulating, supporting, developing, and sponsoring the SME sector in the Kingdom in accordance with global best practices, in order to increase the productivity of SMEs and their contribution to GDP.
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