Financial Sector’s Gaze Fixed Firmly on the Cloud

Grazed from eCommerce Times.  Author: Editorial Staff.

A persistent myth in the tech world is that major enterprises in highly regulated industries are risk-averse and reluctant to adopt new technology innovations. In the case of the financial services sector, this has not been the case for years, and it is being disproved again as a growing number of financial institutions aggressively pursue a widening array of cloud computing alternatives.

One of the foundations for this myth in the cloud arena has been the initial small size of Software as a Service deployments. For instance, because Salesforce.com’s average deal size for many years was approximately 10 users, many industry observers misinterpreted this figure as indicating that SaaS was attractive only to small and medium-sized businesses.  In reality, SaaS was being adopted incrementally within a broad assortment of enterprises by disgruntled employees and business units via the clandestine procurement process we now refer to as "shadow IT" or the "consumerization of IT."…


Beacons of Early Success

As we all know now, Salesforce intentionally employed this go-to-market approach to circumvent the traditional IT-centric, top-down buying patterns of the past to win the hearts, minds and pocketbooks of a new buyer — the end-user. In fact, it wasn’t until last year that Salesforce established a new division to target SMBs…

Read more from the source @ http://www.ecommercetimes.com/story/Financial-Sectors-Gaze-Fixed-Firmly-on-the-Cloud-78478.html