It wasn’t too long ago when any mention of cloud technology for business use raised skeptical eyebrows. These days, however, things are a little different. In fact, a new report suggests that modern businesses are embracing the technology faster than ever before.

The study, by Harvard Business Review Analytic Services (https://hbr.org/hbr-analytic-services), reveals some interesting information. Almost 44 percent of businesses in the survey state that the cloud is central to their thinking about moving their business forward. 36 percent of the survey revealed they had increased their profit margins thanks to the cloud.

Use of the technology has risen dramatically, too. More than eight out of ten of the respondents said that their organizations were using more cloud services. When prompted to explain why, most spoke of their trust in established companies who deliver a broad range of secure services.

The popularity of the cloud amongst modern businesses is no real surprise. Over the years, plenty of research has been released that shows the cloud to be fast, flexible and efficient for business. The U.S. government was one of the first large organizations who embraced the technology. They are now looking into using cloud-based services before any other. Companies, it seems, are starting to follow suit.

Flexibility is, without a doubt, one of the major factors of the success. More than two-thirds of the responding companies revealed that cloud services allowed them to move with more agility. And, it’s that flexibility that helps them move smoothly during periods of growth. It also gives them a complete system with regards to their IT solutions.

In fact, it seems that multi-channel IT services are spearheading the move to the cloud. Take Australian firm Cymax (http://cymax.com.au) as an example. They offer a broad range of services all from a central cloud location, which businesses can pick and choose from. Instead of complete on-site installations, companies can refine the services they need. It’s akin to a pick n mix at a candy store.

The clouds reputation for security is also starting to improve. In days gone by, the technology had much to prove in terms of security. But – particularly with centrally used IT systems – businesses are a lot more confident. Using different software and services has often led to security issues in the past. But, it seems that when involving central IT systems, that risk is reduced.

However, there is still a long road ahead before companies embrace the cloud wholeheartedly. Most of the figures are still hovering around the 50-50 mark, give or take ten to twenty percent. Also, as more businesses jump on board, there is a chance that the initial advantages of using the cloud will disappear. Early adopters have enjoyed being one step ahead of the competitors, but once everyone is on board, will that advantage still exist?

Time will tell, of course. However, the business world is hurtling towards a cloud-based world faster than ever before. The temptation of lower costs, less complexity, and flexible plans appears to be a big pull.