50% of CIOs think the app development process takes too long, 63% will be turning to the cloud.
The time and money it takes to build apps is holding companies back from making the most of mobile, according to research.
A survey by software-as-a-service specialist Kinvey found more than half (56 per cent) of companies spend 7 months to one year building a single app, and almost 20 per cent spend more than $500,000 on the development of each app.
As many as 52 per cent of CIOs think the app development process takes too long, while 24 per cent cite the current approach as a source of frustration.
"The research confirms that, while mobile plays an important and critical business role, the process to build and deploy apps is broken," said Sravish Sridhar, founder and CEO of Kinvey.
One in every three companies does not have a formal mobile strategy, which the survey suggests leads to leads to redundancy, inefficiency, and uncontrolled costs.
Almost two-thirds (62 per cent) of CIOs cite the challenging pace of change in mobile as the reason why mobile strategy lags behind, while 46 per cent refer to fragmentation.
As many as 63 per cent CIOs say they will be turning to the cloud to address their needs.
The top reasons for moving to the cloud include supporting mobile projects (67 per cent), efficiency (68 per cent) and cost (71 per cent).
ResearchNow surveyed 100 CIOs and 100 mobile leaders on behalf of Kinvey.