Eze Castle Integration Market Survey Finds Eight Out of Ten Hedge Funds and Investment Firms Are Adopting Cloud Computing Solutions
In Partnership with IDG Research, Survey Identifies Economics, Speed of IT Deployment, IT Simplification and Built-In Disaster Recovery as Key Drivers to Adoption
BOSTON – June 5, 2012 – Eze Castle Integration, Inc., a leading provider of strategic IT solutions and private cloud services to hedge funds, today announced the results of its independent “Cloud Adoption Trends in the Investment Management Industry” survey, which was conducted in partnership with IDG Research. Featuring responses from 125 senior-level executives, the survey found that more than eight out of 10 hedge funds and investment firms use or are deploying the cloud for IT infrastructure or application services.
Eze Castle will release the findings during a live webinar on Wednesday, June 6, 2012 at 11:00 a.m. ET. A report of the complete survey results will be available following the event. Register for the event and report here: http://www2.eci.com/l/5322/2012-05-15/bm7zw.
The strong adoption rate of cloud services indicates increased emphasis on the benefits the technology is bringing to the financial industry. The survey found that the top three factors influencing adoption of cloud services are the ability to reduce IT infrastructure costs (85 percent viewed as extremely important/important), increase speed of technology deployment (83 percent) and simplify IT management (82 percent). Other factors include improved access to resources on-demand and the ability to take advantage of built-in disaster recovery functionality.
The survey also showed that private clouds are the models of choice, with 71 percent of those using cloud services indicating they were using private cloud platforms. Additional findings include:
- Fifty-seven percent of respondents began their use of the cloud with basic business or office functionality, including email, file services and mobility. Thirty-four percent indicated their first use of the cloud was for hosting of financial applications.
- Eighty-four percent of respondents indicated cost-effectiveness as the top reason for selecting their private cloud service providers. Security policies and procedures, and knowledge of cloud within the financial industry were close second and third factors scoring 82 percent and 81 percent on extremely important/important, respectively.
- Seven out of 10 respondents ranked concerns about security as well as information governance and meeting regulatory requirements as significant barriers to cloud deployments.
“Eze Castle Integration is the leading provider of private cloud services to alternative investment firms worldwide. This leadership role means we must provide outstanding worldwide cloud services as well as educational resources and knowledge for the entire industry. By partnering with IDG Research, we are reinforcing this commitment by delivering objective insight into how and why firms are adopting cloud computing technologies,” said Bob Guilbert, managing director of Eze Castle Integration. “This survey and the recently launched Cloud Forum are two invaluable resources hedge funds should utilize to explore how cloud services can support their business operations.”
The online survey conducted by IDG Research collected information from 125 senior-level executives at hedge funds and investment management firms within the United States that were using or planning to use the cloud for infrastructure or application services. Forty-five percent of these individuals worked at firms with more than $750 million in assets under management (AUM); 23 percent had an AUM between $250 and $749 million; and 32 percent had less than $250 million in AUM at the time of the survey.
About Eze Castle Integration
Eze Castle Integration is the leading provider of IT solutions and private cloud services to more than 600 alternative investment firms worldwide, including more than 80 firms with $1 billion or more in assets under management. The company’s products and services include Private Cloud Services, Technology Consulting, Outsourced IT Support, Project & Technology Management, Professional Services, Telecommunications, Business Continuity Planning and Disaster Recovery, Archiving, Storage, Colocation and Internet Service. Eze Castle Integration is headquartered in Boston and has offices in Chicago, Dallas, Geneva, Hong Kong, London, Los Angeles, Minneapolis, New York, San Francisco, Singapore and Stamford.