Many businesses and organizations have shifted to the cloud to save money, but CIOs say their costs are rising as they shift to the new technology, The Wall Street Journal reported Sept. 29.
Cloud computing is advertised to be a cost-saving mechanism, offering nearly unlimited computer capacity with a pay-as-you-go pricing model. But some CIOs say storing data in their own data centers has been more cost-effective than the cloud.
According to the article, the rising costs come from organizations turning to multiple cloud providers for different systems and applications for different business areas.
This, in turn, has increased costs for technology executives.
According to professional firm KPMG, roughly 67 percent of 1,000 senior technology leaders at U.S. firms across industries said they have yet to see a significant return on cloud investments.