Catalyst Cloud – The Route to ROI

For investment firms, the adoption of cloud technology is a vital component to achieving digital transformation goals, offering unparalleled opportunities for cost efficiency, scalability, and innovation.

At the recent A-Team Data Management Summit in London, I joined a panel of industry experts to explore unlocking business potential in the cloud. Many firms have already embarked on their cloud transformation journey however, when polled, over half of the audience, formed of data leaders across the Buy and Sell Side, claimed they are struggling to see clear ROI from their cloud investment, and they need a clear data strategy to help them align with business goals.

What are the benefits to a cloud–native data strategy?

For firms today, the cloud is now the platform on which to operate, offering a scalable and readily-accessible alternative to on-premise solutions. With transparent pricing models, firms are able to optimise their cost structures and scale resources dynamically, seamlessly adjusting to changing business needs.

However, despite the clear benefits, there is no silver bullet to moving to the cloud and coming up with a migration path can be difficult. As a result, many firms are facing both technical and business challenges associated with data migration projects. In fact, 55% of the audience members said that integrating with existing technology is their biggest challenge in achieving business value. This was closely followed by aligning their cloud strategy with business objectives (47%).

So, how can firms overcome both business and technical challenges to maximise value in the cloud?

First and foremost, it’s important to realise that the transition to the cloud is a phased journey for most organisations, and it’s vital that firms take time to work out the limitations of their current technical estate and fill the technical and functional gaps before embarking on a change project.

After all, there’s no point in moving the problems of their legacy solutions to the cloud.

With a strategy in place, firms can take advantage of the scalability of cloud technology to easily track their usage and how that attributes to company spend. This allows users to clearly align their business outcomes with their expectations.

From a technical perspective, many firms hold data that sits across tens, or in some cases, hundreds of systems, whether that be cloud-based, or on-premise. In the transition to the cloud, firms don’t need to be limited to a rigid data strategy and overhaul their existing systems. Instead, they can leverage a flexible data layer which enables them to integrate their existing technology with new technologies in a cloud environment. This minimises disruption to core business operations and improves the flow of data across the organisation.

Accessing the next generation of technology on the cloud

Where firms would traditionally be limited to Extract, Transform and Load (ETL) data processes across different environments, cloud technology gives access to technologies such as data virtualization – a modern approach to data delivery. Data can be fetched from source systems in real-time, without the need for multiple copies. This allows users to easily combine datasets in one place, streamlining the flow of data across an organisation for interrogation and analysis, and helping to drive more efficient investment decisions.

Firms can also leverage cloud technology to experiment and innovate with emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML), for enhanced data-driven decision making.

The future of the investment industry in the cloud

For the investment industry, navigating digital transformation is more than just migrating to the cloud; it demands a strategic approach to data management and utilisation. By embracing a cloud-native data strategy, firms can overcome the dual challenges of technical integration and aligning with business objectives, unlocking unprecedented scalability, cost efficiency, and innovation.

Those that harness the full potential of cloud technology won’t just stay ahead of the curve, they’ll be able to redefine it. To speak to an expert about FINBOURNE’s capabilities, why not get in touch.