Nowadays, most companies are proving to extensively engage in end-to-end digital transformation solutions, which means they are applying digital transformation to all phases of a given business process.
With the Covid pandemic accelerating the need for digitalisation to remain competitive in a crowded market, majority of businesses are identifying Cloud as the main enabler to complete a smart digital transformation journey and the ultimate key to help them reopen, reinvent, and win uncertainty.
In this ever-changing financial scenario, adopting a future-oriented cloud strategy, along with the innovative technologies moving it, cannot be a decision to put aside, not anymore. If it’s true that digital transformation carries high costs of implementation and complexity due to an utter migration of business operations to the cloud, companies’ hesitation towards it should be overtaken by the advantages it brings. Cloud computing is in fact a great opportunity to reduce costs, increase efficiency, scalability, and security.
Key benefits revealed
Amongst the primary drivers of Cloud’s popularity, scalability refers to its rapid elasticity, that is, in other words, the ability to grow or diminish resources, sometimes automatically, as needed, to meet demands change in a capable way.
Cloud leads to a significant improvement in terms of efficiency and flexibility. Indeed, digital transformation carries faster and smoother operations; users, wherever they are, can access the cloud services and data they need. This way, business expansion in new territories results in an easier process, as well as service offering to international audiences, and a more flexible way of working for employees.
Given that Cloud migration promotes working flexibility, we assume employee collaboration will be facilitated. Cloud technology supports businesses in operating in distributed work environments, this way employees can work remotely, also thanks to cloud-based communication and collaboration tools.
Companies adopting cloud computing strategy significantly reduce costs of hardware and software purchase. In fact, they do not need to buy local servers and data centres, that requires specialised people for their management and maintenance, occupies physical space and consumes electricity 24/7.
Besides, cost reduction goes hand in hand with
on-demand computing; cloud technologies enable businesses to take advantage of computing resources on demand without having to invest in specific hardware and software, this way allowing cloud-computing providers to optimise the hardware needs of its data centres, based on a given business’ requirements.
Cloud transition will bring advantages in terms of increased security and perceived reliability. With cloud storage, the massive risk of data loss ceases to exist, and it is exchanged with security and protection against system failure. All data are available anywhere, even in case of damaged corporate devices. Also, reliable cloud providers offer data recovery procedures designed for all sorts of emergency scenarios.
About Objectway
Founded in 1990, Objectway Group is a leading provider of investment management and digital software solutions to the worldwide financial services industry. Our omni-channel, omni-device software platform supports the rapidly advancing digital revolution within the wealth and investment management segment.
Under the direction of CEO and founder Luigi Marciano, Objectway has seen steady growth since its inception, both organically and through strategic acquisitions, with revenues topping 60 million euros in fiscal year 2015. Our awarding-winning platform is the trusted choice of leading wealth and investment firms across the globe from EMEA to Canada to Central America.
From offices in Italy, Belgium, the UK, Ireland and South Africa, Objectway's roughly 500 employees support more than 100,000 investment professionals in 15 countries, who manage more than one trillion euros in wealth. For more than 25 years, we've kept our focus on a single vision: combining advanced technology with a deep understanding of business needs to help our clients reshape their wealth management services.
