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IT executives at firms such as T. Rowe Price, Vanguard and Putnam Investments say that embracing the cloud enables them to more rapidly respond to changing needs of business units and gives them greater flexibility and efficiency in how they manage tech change.
–Noblett, Jackie. December 18, 2017. “Shift to Cloud Prompts Fund Shops to Retool Tech Teams.” Ignites
Archer has been “cloud-native” from its onset, having early-on embraced the benefits for investment management operations which includes a greatly reduced technology footprint — no software to update or maintain or additional hardware to support. These lead to even greater benefits for managers by empowering a focus on strategic plans rather than tactical support. Growth and efficiency are gained through:
These and other benefits are discussed in our Insight, “Embracing the Cloud.” In it, we discuss how common the cloud is to our everyday lives, yet is only now gaining a foothold in enterprise solutions within the financial industry.
Additional, direct-experience benefits of Archer’s private-cloud based solution are noted in a discussion of how an investment management firm benefited from our single-source solution, including enabling it to open a new location and support new products while minimizing the technology footprint.
In an article at harnessing the benefits of fintech, Matt Caulfield points out: “Rather than fit their investment management business to legacy solutions for operations, investment managers must work with a change catalyst that is willing and able to fit a new solution to their business.”
Collaboration is key to adopting new technology. Bob Lage notes, “In fact, what many of us call user training is simply a forum for users to build relationships around new process opportunities presented by the change. Successful adoption of technology change requires the team to get to the point of saying, ‘I’m good with this. You’re good with this. We’ve got it.’”
Native-cloud technology is a start, yet with the sheer number of supporting data that flows between systems – prices, corporate actions, currency exchanges, etc. – an efficient ecosystem stays on top of changes as they happen. As the changes are implemented on a cloud application, all users downstream receive the update, no additional steps installations needed. For investment managers using Archer’s technology and services, an oft-overlooked but very powerful benefit of our private-cloud based ecosystem is the integration of industry-leading services in a single solution — no additional licenses, logins, or hardware required.
As you can see, the benefits of cloud-based services are many, and collectively empower investment management firms by unleashing their strategic potential. Unlike the nebulous nature of atmospheric clouds, the benefits found in cloud-based technology are tangible and available to be embraced today.