Cloud Computing Takes Shape Over Wall Street
Grazed from Investment Underground. Author: Susan Wright.
Cloud computing has made its way onto Wall Street. Firms on Wall Street are now adopting cloud computing practices. This new development follows the recent trends surrounding cloud computing as an increasing number of businesses, educational institutions and individuals are looking to the cloud for their data storage requirements. There are currently over 600 million cloud subscribers around the globe. The cloud computing market is expected to become a billion dollar industry within the next four years.
Hundreds of new firms have entered the cloud computing marketplace, and the competition has led to innovative ideas for storing data. One of these innovative new cloud computing firms is Navatar Group, which was founded in 2004 by Deloitte Consulting veterans, including Alok Misra. Navatar Group has geared its cloud solutions toward the financial sector. The company focuses on debt or equity capital markets, mutual funds, private equity, asset management and banking. Navatar Group works with leading financial institutions worldwide…


Salesforce.com (CRM), No. 2 in this year’s Bloomberg Businessweek 50 ranking, has been outpacing rivals Oracle (ORCL), Microsoft (MSFT), and SAP (SAP) in the business software market by exploiting companies’ desire to stop managing programs for thousands of their employees and outsource the job instead. The company’s stock has climbed more than 170 percent in the past three years and Chief Executive Officer Marc Benioff is expanding his portfolio of cloud computing software for sales, customer service, and online marketing by branching into new areas like human resources. Benioff spoke with Bloomberg News reporter Aaron Ricadela from his home in San Francisco about the competitive landscape and his plans for the coming year.