The Manufacturing Industry Is The Most Advanced In Cloud Adoption: Wipro Report

Rhea-AI Summary

Wipro Limited (NYSE: WIT) reported that the manufacturing sector leads in cloud adoption, with 32% achieving 'cloud leader' status. The company's report highlights that manufacturers enjoying cloud benefits realize a 42% ROI compared to 24% for early adopters. Despite progress, 27% of manufacturers are still in early cloud adoption stages, hindering their market responsiveness. Key findings include improved productivity (56%) and quality control (79%) due to cloud technologies. The research surveyed 93 executives across France, Germany, Switzerland, and the UK, affirming the cloud's critical role in future-proofing manufacturing.

Positive

• 32% of manufacturers achieved 'cloud leader' status, indicating strong cloud adoption.
• Cloud leaders achieve a 42% ROI, nearly double that of early adopters (24%).
• 56% of manufacturers report improved productivity due to cloud adoption.
• 79% of European manufacturers find cloud enhances quality control.
• 49% anticipate increased investment in cloud-based quality control.

Negative

• 27% of manufacturers are still in early cloud adoption, limiting their market responsiveness.

32 percent of manufacturing companies have achieved cloud leader status, compared to 18 percent across all other industries

LONDON, England & BANGALORE, India--(BUSINESS WIRE)-- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today released a report entitled, Redefining Manufacturing for The Digital Era, published by Wipro FullStride Cloud Services. According to the findings of the report, the manufacturing industry is leading all other industries in cloud adoption, with 32 percent of manufacturers having achieved “cloud leader” status. Further, the report indicates that cloud-based technologies are the driving force behind the rapid business transformation in the European manufacturing industry.

However, cloud adoption across European-based manufacturers has not been even, according to the report. Those who are in the early stages of cloud adoption (27 percent), are lagging in moving products to market faster, making risk management more effective, and bolstering shareholder value. In fact, the report reveals that manufacturers that are cloud leaders receive almost double the payoff from their investments in cloud, achieving a return on investment of 42 percent, compared with 24 percent for beginners.

“Shifts in the global economy are reshaping the manufacturing industry in Europe,” said Srinivasaa HG, Europe Business Head of Integrated Digital Engineering & Application Services (iDEAS) at Wipro Limited. “The pandemic led to a massive uptake in adoption of cloud technologies. Now, as business leaders in Europe face an uncertain economic environment, they are tapping into the power of the cloud to quickly deploy advanced technologies to enhance resiliency across their operations and better manage future risks and supply chain shocks.”

“Cloud is increasingly acting as the foundation for business, enabling manufacturers to use artificial intelligence, Internet of Things, data management warehousing and other emerging technologies. Going forward, cloud will be the bedrock upon which the sector will build the smart factory of the future.”

Among the other findings of the report are:

1. Manufacturers are using cloud to modernise their production processes to become future-ready:

• 40 percent of European manufacturers made significant progress in key activities by using cloud, including improvements in IT management, production, planning, procurement, and supply chain operations.
• 56 percent of all manufacturers have reported improved productivity thanks to cloud adoption.
• Overall, 51 percent of manufacturers across all stages of cloud adoption reported improved planning and decision-making.

2. Business leaders believe that cloud is making manufacturing more effective by supporting the transformation of key operations:

• 79 percent of European manufacturers say cloud has made quality control more effective by centralizing, standardizing and bringing transparency to the relevant data.
• 49 percent of manufacturers expect to increase their investments in cloud-based quality control in the near future, helping to achieve a faster time to market, new markets and better market position.

3. Protecting investments into cloud and ensuring safety is a key priority for European manufacturers:

• Protecting cloud investments provides a foundation for improved customer service and cybersecurity. One of the top benefits discovered by 58 percent of leaders is decreased costs.
• 49 percent of all European manufacturers have benefitted from increased revenue thanks to their cloud investments.
• 61 percent of cloud leaders say developing cybersecurity teams and skills is the number-one step they are taking to protect their cloud investments, thus ensuring their move to cloud is effective and vital operations powered by cloud are safeguarded.

“Our report shows that manufacturers who have adopted cloud expect the technology to expand into every single area of their business within two years,” added HG. “This is no surprise given that cloud’s benefits go beyond increasing competitiveness and productivity. Cloud-enabled businesses can drive increased revenue, enhance reputation, and better manage their carbon footprint. All of this will be incredibly important as we move into Industry 5.0 and create future-proof businesses.”

Wipro surveyed 93 C-level executives and key decision-makers at manufacturers in four European countries: France, Germany, Switzerland, and the UK on how cloud is helping the industry prepare for the future.

For a complimentary copy of the report and more details, please click here.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005352/en/

Media Contact:

Sanuber Grohe

Wipro Limited

sanuber.grohe@wipro.com

Source: Wipro Limited

FAQ

What are the key findings from Wipro's report on cloud adoption in manufacturing?

Wipro's report indicates that 32% of manufacturers are cloud leaders, experiencing a 42% ROI. Cloud adoption improves productivity by 56% and quality control for 79% of manufacturers.

When was the report on cloud adoption published by Wipro Limited?

The report was published recently by Wipro Limited, reflecting ongoing trends in the manufacturing sector.

How does cloud adoption impact manufacturers according to Wipro's findings?

Cloud adoption enables manufacturers to modernize processes, improve productivity, and enhance quality control, with a significant majority reporting positive outcomes.

What percentage of manufacturers in Europe are considered cloud leaders as per Wipro's report?

According to Wipro, 32% of manufacturing companies in Europe have achieved cloud leader status.

What challenges are faced by manufacturers in adopting cloud technology?

Wipro's report highlights that 27% of manufacturers remain in early stages of cloud adoption, affecting their ability to respond quickly to market changes.