Welcome back to Hedge IT! Now that you’ve read Part I of our Cloud Survey Findings recap, let’s take a look at some of the other results we found.
Cloud Users = Satisfied
One of the most interesting findings our 2013 survey revealed was the level of satisfaction investment firms have with their current cloud deployments. Over 90 percent of respondents indicated their clouds (whether public, private or hybrid) were meeting or exceeding expectations in each of the following areas:
- Reducing IT costs
- Improving users’ IT experience
- Simplifying management of IT
- Allowing firms to reallocate resources to more valuable activities
- IT performance, scalability and resiliency
- Providing a high return on investment
Private cloud users appear to be the most satisfied with their cloud services. When asked how their cloud services reduced their IT costs, nearly all (98%) private cloud users said their cloud model was effective in this regard. In contrast, only 83 percent of firms using the public cloud felt the same.
One benefit many firms see from the use of cloud services is the ability to reallocate internal resources to more valuable activities. For example, if outsourcing cloud services to a third-party provider, a firm’s internal IT department no longer needs to focus on the day-to-day management and maintenance of the cloud – thereby allowing those employees to focus on higher-value areas of the business such as meeting regulatory and compliance requirements and improving security practices across the firm. Eighty-nine percent (89%) of overall cloud users believe the cloud is currently meeting or exceeding their expectations in this area, but once again, there are some discrepancies between cloud types. While 39 percent of hybrid cloud users say their cloud type exceeds expectations in this area, only 22 percent of private cloud users feel the same.
Given their overall happiness in the cloud, it shouldn’t come as a surprise that many hedge funds and investment firms we surveyed are planning to maintain the same cloud usage levels or increase them in the near future. For example, within the next year, 41 percent of firms expect their use of private cloud services to increase. Thirty-nine percent of firms expect to use the hybrid cloud more; only 28 percent will increase their use of public cloud services.
Many firms (37%) also reported their budgets for cloud projects had increased in 2013 compared to 2012. The majority (52%) indicated their budgets had remained the same year over year.
Benefits Gained from Cloud Usage
The cloud continues to entice hedge funds and investment firms of all types and asset classes, and based on our survey findings, most users are happy with their current technology deployments. The benefits firms gain from cloud services continue to impress. Our survey found that firms expect to realize the following outcomes from the cloud:
- Improved data management ability (60%)
- Improved ability to manage applications (55%)
- Improved resource utilization (54%)
- Improved disaster recovery/business continuity (52%)
- Simplification of the infrastructure (51%)
- Cost savings/lower total cost of ownership (48%)
- Improved application service levels or IT responsiveness (47%)
- Lower support costs (46%)
- Improved scalability/flexibility (46%)
- Increased agility in bringing in new business applications (45%)
To hear more about our 2013 Cloud Usage Survey Results, watch our 30-minute webcast. You can also download the full report of survey findings here.
- Answering the FCA's Dear CEO Letter on Outsourcing with Some Practical Steps
- Reflecting on What We're Thankful For This Thanksgiving
- Finding Your One-Stop Shop: The Benefits of Choosing an All-Inclusive IT Provider
- Three Ways Your Cloud Provider Can De-Stress Your Life
- Putting BCP on Your Holiday To-Do List
- business continuity planning
- cloud computing
- data loss prevention
- disaster recovery
- eze castle milestones
- hedge fund due diligence
- hedge fund marketing
- hedge fund operations
- hedge fund regulation
- help desk
- high frequency trading
- launching a hedge fund
- privacy compliance
- project management
- real estate
- startup & relocation
- trends we're seeing
- videos and infographics