Business executives in the Philippines are increasingly planning to invest in hybrid multi-cloud platform strategies and capabilities, according to an IBM Institute for Business Value survey.

“Undoubtedly, in today’s digital-first economy, cloud adoption plays a key role. It is interesting to note that most organizations surveyed in the Philippines find hybrid multi-cloud as the critical enabler that will help them embark on their journey to become a Cognitive Enterprise,” said IBM Philippines Chief Technology Officer Lope Doromal Jr. in a press statement.

Results of IBM survey

“Moreover, they are realizing that hybrid cloud enables improved business performance and greater return on investment. Proof of this are the leading businesses that have demonstrated their competitive advantage through a robust hybrid cloud management and governance platform. In the Philippines, we’ll see more businesses leveraging a secure, interoperable, open and free from vendor lock-in hybrid multi-cloud platform technology that embeds AI (artificial intelligence) to achieve successful business transformation,” Doromal said.

Over 6,000 global executives across industries, including 100 executives from the Philippines, participated in the IBM survey. The survey was conducted to gain an in-depth understanding of their organizations’ use of hybrid cloud, multi-cloud, and their approach to multi-cloud management for the report titled, “The hybrid cloud platform advantage“.

According to survey respondents from the Philippines, 17 percent of their information technology spend is allocated to cloud and they plan to increase the share of spend on hybrid cloud from the present 39 percent today to 48 percent by 2023.

Most of their cloud budgets are being allocated to hybrid cloud platforms even as their public cloud spend is set to be reduced from 53 percent share today to 43 percent by 2023. Most industries globally will exhibit growth in the number of clouds they will deploy, which can go up to 11 clouds per organization, particularly in insurance, telecommunications, retail, banking, and consumer products as these industries will continue to expand multiple cloud deployments in the next three years.

Further, the study confirmed the return on investment of a platform approach as respondents said that the value derived from a full hybrid, multi-cloud platform technology and operating model at scale is 2.5 times the value derived from a single platform, single cloud vendor approach. In fact, the platform approach is cited as accelerating value with scale.