Latest Hosting Posts
Investment companies are one of the types of companies that can benefit greatly from cloud adoption, because they rely significantly on technology to perform important tasks such as trade execution, customer response and data protection.
Cloud computing can make these and other tasks more efficient and effective, enabling investors to meet the needs of their clients more competently.
Here is a look at the use of cloud computing in the investment industry.
Cloud Adoption in the Investment Industry
According to an Eze Castle Integration (ECI) survey conducted in 2013, 87 percent of investment and hedge funds firms said that they were using some form of cloud computing to meet their business meets, which was about 7 percent higher than the figure recorded in 2012.
In the past, many investors were hesitant to adopt the cloud because of security concerns, but they have been gaining confidence in the technology over the years.
The survey showed that 93 percent of investor companies believed that private cloud services are more or equally secure compared to on-premise IT infrastructure.
How Are Investment Firms Utilizing the Cloud?
Investment companies can use the cloud for a wide range of purposes.
The ECI survey revealed that about 60 percent of investment firms are using cloud computing for basic business and office functions such as emailing, filing and storing data.
Other common uses include financial application hosting, IT outsourcing and data backup and recovery.
Benefits of Cloud Adoption for Investment Companies
One of the main benefits of adopting cloud computing is that it can help reduce IT costs substantially.
Instead of having to purchase expensive infrastructure and setting up their own communications rooms, investment companies can let a third party provide that infrastructure and manage all their data and applications on the Internet.
Additionally, since the cloud enables companies to get more work done with less people, it can help investors reduce their IT labor costs.
The cloud allows investors and their employees to gain access to company data anytime, anywhere, making it easier for them to meet the needs of their customers and respond to unexpected events promptly.
With a cloud computing system in place, employees can perform their work duties remotely, which can result in better productivity.
Investors can also use the cloud to stay up-to-date with the latest changes and opportunities in the industry, and provide better investment tips for their clients.
A system crash or other unforeseen misfortune can result in data loss and business interruption, which can in turn lead to substantial financial losses. Investment companies can minimize such losses by adopting cloud computing.
The cloud provides secure data backup and convenient disaster recovery, enabling companies to restore their data in a matter of minutes.
Presently, there are many different types of cloud services available in the market, and investment companies have to choose one that can help them reach their business goals, meet their risk management needs and provide optimal security.
John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to Cloud computing.View John McMalcolm`s profile for more