According to a recent article from Cloud Computing News, cost savings is not the primary driver for firms looking to move to the cloud.
We could not agree more.
Cost is really not a big driver for buy-side firms looking at cloud solutions from what we are seeing. While long term reduction in IT costs is an added benefit, the key driver for investment management firms is really the ease of use that a cloud solution offers (all you need is an Internet connection), which also solves the problem of remote office/end-user connectivity along with the added benefit of integrating high availability disaster recovery for mission-critical systems.
From there, the other main driver is the scalability that the cloud provides. For investment management firms in growth mode, not having to worry about IT requirements when volumes double in key areas, such as assets under management, trading volumes, and/or number of users, is the main benefit that the cloud model uniquely provides.
