Moving Beyond Buy-Side Cloud Computing Myths
July 10, 2014
Grazed from WallStreet and Tech. Author: Kevin McPartland.
Security and compliance are certainly concerns for buy-side firms looking to use the cloud, but it shouldn’t hold everyone back from cloud-based technology. Cloud computing has been discussed on Wall Street since the early days of Salesforce.com circa 1990. Depending on how it is defined, the “original cloud” could date back even further, to the founding of Bloomberg and the widespread use of mainframe computers in the 1980s. But despite those early beginnings, Wall Street today is underutilizing this resource and its potential competitive advantage.
Greenwich Associates research shows that 80% of buy-side firms utilize vendor hosted execution management systems (EMS). Web-delivered applications, often referred to as software-as-a-service (SaaS), are also common, ranging from customer relationship management (CRM) to email to market data terminals. For the largest firms, internally built applications delivered in this way often consist of a pretty front end hooked up to a legacy back end. The cost and ease-of-use benefits of these approaches cannot be understated; however the capabilities of these approaches only scratch the cloud’s surface…
The information and processing behind these products run in a cloud environment, but the cloud itself is mostly if not completely obscured to simplify the user experience. For that community to move en masse to the next stage of adoption, a number of perception issues must be addressed…
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