Many companies are making the move to the cloud, but 73% of cloud migration projects are taking a year or longer to complete, according to a report from Velostrata and Dimensional Research released Wednesday.

Of that 73%, some 30% said they believe their migration will take between one and two years. The remaining 43% said they think that their cloud migration will last longer than two years.

The survey found that more than 96% of companies were moving applications to the cloud, but that it was also taking more time and money than expected. According to the report, 62% said that the projects were harder than expected or that they failed, and 55% said that they went over budget.

SEE: Cloud computing policy template (Tech Pro Research)

As far as why migrations took more time than expected, 56% noted both competing IT projects changing priorities and a lack of expertise. Security concerns were listed by 52%, and 49% cited a lack of resources as a major barrier.

Key goals for the migration projects of the respondents were minimal downtime, simplicity, and zero data loss, the report said. For the migration solutions that respondents considered, the key features needed were automation, rollback, integration, multi-tier migration, and testing.

In approaching a move to the cloud, 61% of respondents used cloud migration software. Another 46% re-wrote applications directly in the cloud, while 12% took another approach.

When asked what they would change if they could go back and re-do their cloud migration, 56% said they would perform more pre-migration testing, the report found. Half of the respondents said they would have set a longer timeline, and another 45% said they would have hired an in-house expert to help with the process. Some 42% said they’d recommend budgeting more money, and 29% said they’d use a different migration strategy altogether.

Once they get to the cloud, 69% said they’re planning on using multiple clouds. For the reasoning behind this, 77% said flexibility of workload placement was a key driver. Additionally, 58% said that they were doing so to prevent lock-in.

Want to use this data in your next business presentation? Feel free to copy and paste these top takeaways into your next slideshow.

  • 73% of tech leaders expect their cloud migrations to take more than one year to complete, with 43% expecting the process to last more than two years. – Velostrata/Dimensional Research, November 2017
  • 96% of companies are in the process of moving their applications to the cloud. – Velostrata/Dimensional Research, November 2017
  • 62% of companies said their cloud migration project was harder than expected, and 55% went over budget. – Velostrata/Dimensional Research, November 2017