Not surprisingly, many firms – including those with well-established in-house infrastructures – are making the move to the cloud for a variety of compelling reasons.
With the introduction of Amazon’s Elastic Compute Cloud in 2006 and Microsoft Azure in 2008, the organisations started moving away from traditional CAPEX model off investing affront and owning the dedicated hardware and software. They now prefer to use a shared cloud infrastructure and pay as one uses it, popularly known as OPEX model.
In 2010, OpenStack, an open-source cloud-software initiative made cloud computing more popular. New technology brought high-capacity networks, hardware virtualization and service-oriented architecture. This has led to a growth in cloud computing. Cloud technology converts a ‘virtual office’ into a ‘true mobile office’. Using a laptop or tab, they can access all the fund’s data, intelligence and work files from anywhere any time.
According to Greenwich Associates, hedge funds could get cost reduction of more than 50 with cloud deployment.Cloud computing industry is growing at an exponential rate of 50 per annum. As technology enhancements continue, made and more business applications get added. Cloud computing gives a competitive edge to hedge fund managers.
About the Author Arnaud Mercier is a FinTech entrepreneur based in London. Thanks to his solid experience in IT management – mainly Salesforce and SAP – Arnaud has created Askerteam, a consulting and Cloud solution provider for Financial Services based on Salesforce platform. Askerteam focuses on the Financial Services Industry. Our CRM solutions Suite are designed specifically for Hedge Funds, M&A, Private Equities, Familly office, and Insurance companies; those solutions embraces the key CRM, sales, operational and marketing functions, including compliance.