understanding the cloud: a guide for financial businesses
DESCRIPTION
The Cloud Made Simple - learn about the Cloud, the types of Cloud services available & how financial businesses can benefit from using the technology.TRANSCRIPT
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understanding the Cloud
a guide for financial businesses
18th July 2013
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95%
16%
have used the Cloud but don’t know it
correctly think the Cloud is a place to store, access and share data
Did you know:
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So what exactly is the Cloud?
Although the Cloud has been around for several years, there is still some confusion around what it is and how it works.
Cloud computing is when a service or software application is hosted in a web-based repository known as the “Cloud.”
The service is hosted by a third-party provider who will grant a user access to the service on an on-demand basis.
Into the Cloud64% of UK based financial firms believe the Cloud to be a key enabler of change, despite compliance restraints.
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Adoption rates for the Cloud
Over the last 18 months, Cloud adoption in the UK has grown by 27%.
Cloud Industry Forum predicts 75% of UK businesses will be using one or more Cloud services by the end of 2013.
60% of financial firms anticipate the Cloud as a core part of their IT strategy going forward.
Sources:
1. Cloud Industry Forum2. Saugatuck Technology Inc. 2013 Survey
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Business drivers for the Cloud for regulated firms
1 Reduced time to deploy/provision new infrastructure
2 A lack of internal IT resources
3 A move from Capex to Opex
4 Improved agility, flexibility & capacity to respond to business
changes particularly with an increase in BYOD and staff travel
5 Industry specific factors:
// Compliance // Latency // Disaster Recovery & Backups
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What types of Cloud are there?
+
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Service Model ComparisonHow a Cloud service model is managed will impact which is best suited to your business:
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Who is leading the pack?As it stands today, SaaS is the leading Cloud service model.
This might be the case in the UK markets but is SaaS right for the financial services sector?
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Deployment Model ComparisonHow will your Cloud services work together?
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Cloud Model Usage
5%65%30%
of financial businesses use
only Cloud services for their
IT needs
of businesses use a hybrid
of Cloud & On-Premises
infrastructure
of businesses use only
On-Premises infrastructure
for their IT
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The Cloud & the FS sector
Increased regulation and compliance requirements have driven financial firms to think about their infrastructure as an integral part of a sound business model.
Although the Cloud still has some maturing to do, has it developed enough for regulated businesses to form part their infrastructure?
Yes // No
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How are firms using the Cloud?Complete Outsourcing Newly regulated firms starting-up or those wishing to refresh their existing IT environment are moving towards a fully outsourced Cloud infrastructure. This might include file services, email, backups, DR and remote access – all catered for by one provider and on a per user basis.
Application Hosting For those firms who remain unsure and want to test the waters, they are moving their applications such as their OMS or CRM to the Cloud. The apps are available at any time and typically via the web.
Disaster Recovery Cloud services have made DR more affordable for many businesses. No longer are duplicates needed of each service andinstead, it is now in the hands of the Cloud provider to offer a resilient solu-tion.
Hosted VoiceHosted voice solutions eliminate the need for an on-site PBX. By using a cloud voice solution, firms receive a professionally managed & compliant service with added recovery capabilities and minimal upfront costs.
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Things to considerWhen weighing up the Cloud, what it offers and whether it is right for your business, it is a good idea to ask yourself how the Cloud responds to the following:
1 Security
Data ownership, encryption & 100% uptime are the number 1 priorities for all regulated firms.
2 Control
With BYOD on the rise, there are concerns about the safety & security of implementing remote access working conditions & effectively monitoring these changes.
3 Delivery speed
A key aspect to every part of business operations - refers to resources, connectivity & compliance.
4 Pricing
Although essential, IT spend can pose large overheads. When businesses & IT requirements change, you need a solution that mirrors the scale of your business.
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Right Cloud. Right Place.
Right Time.
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How can Sentronex help?As part of our SentroCloud service offering, Sentronex delivers a number of Cloud based solutions including Private Cloud, Virtual Desktop Infrastructure (VDI), Cloud based backups & email archiving.
Our team believes in business leading technology and not technology leading business.
Sentronex provides end-to-end IT solutions that are focused around a business’ individual needs and not just technical capabilities.
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About SentronexSince 2005, Sentronex has provided award winning IT services bespoke to London’s financial community. Over 1,000 staff rely on our expertise and services to continue operating/trading.
Our objectives are simple: 1 be the best 2 be transparent 3 be in the know
As a result, we have achieved the following impressive statistics:
90% of clients renew after the first term 70% of our customers take 2 or more services 60% of clients are won on a referral basis
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Get in Touch
Email // [email protected]
Tel // +44 (0)20 7397 7400
Address // 42 Southwark Street London SE1 1UN
Web // www.sentronex.com