The shift to internet-based cloud computing holds much promise for organisations trying to improve access to technology resources while lowering costs, but looms as a major threat to the existing business models of some locally listed stocks.

While management teams have been hitching their wagons to the train in analyst briefings ahead of full-year reporting season and will score some early consulting wins in helping customers navigate their way through marketing hype, the longer- term forecast is less promising as the world’s biggest technology companies offer customers new business models.