The future of cloud computing has taken a step closer to becoming the present after Intel signed an agreement with Oracle to work together on the cutting edge concept.

It was noted by the companies that while the concept of cloud computing focused on the efficiency of running programs and storing data through the use of a large amount of internet technologies, the networks demanded enhanced security and flexibility to deliver what was needed.

After being lauded for the joint-leadership role of addressing this issue, group vice-president of Oracle Global Technology Business Unit Robert Shimp said he was glad they had teamed up.

He continued: "Oracle understands that enterprises would like the flexibility of choosing to run their enterprise systems in either private or public clouds, but in order to do that, cloud computing needs to be highly efficient, secure and standards based."

Founded thirty years ago by Larry Ellison, Oracle commercialised the first relationsal database for mainstream businesses.

More than half of small businesses (53%) believe that the most important benefit of outsourcing is guaranteed response times for IT support, London based Connect conducted the research in 2007.