Businesses are only just starting to realize the benefits of cloud computing, and rapid growth cannot occur until vendors address particular obstacles, according to a recent report from the World Economic Forum, the Irish Times relays.

The cloud has been lauded for helping businesses reduce their costs and improve overall business productivity, but the report found these benefits are merely the “scratching the surface of cloud’s potential.”

The WEF’s report found 86 percent of respondents said the cloud’s main contribution to businesses was its potential to set the stage for new services and products.

The document also cites research showing companies currently implementing cloud services could help employ between 300,000 and 1.5 million individuals in Europe during the next five years.

The obstacles discussed in the report are security and long-term commitments with vendors, the news provider relays.

Although many companies have overcome their fears associated with the new technology, lengthy commitment contracts continue to wane on those who are hesitant about the cloud.

As vendors make it easy for customers to switch providers and move data from one cloud to another, experts believe cloud computing will achieve even greater adoption.ADNFCR-2553-ID-19922122-ADNFCR