Webinar Replay: The Future of Cloud - 2020 Vision
Before we step into 2020, businesses are encouraged to stop and think about what the future of cloud holds and what that means for their firm. This goes for firms who have already taken the leap and those who are still evaluating a cloud migration. In a recent webinar, our senior technology enthusiasts explored the future of cloud computing to provide investment firms with an outlook for 2020, and how to leverage the cloud wherever they might be in their journey. Today’s blog article will summarise key points covered in the discussion. The full replay of the webinar can also be accessed here.
A View of 2020 and What’s in Store for Cloud Computing
We’ve seen a huge shift to the public cloud in recent years from traditional datacentre usage. The competition for investment and funds amongst hedge funds, asset managers and the wider investment management landscape is what is driving this shift, with management fees and returns from a traditional infrastructure under scrutiny. Therefore, today’s firms are drawn to keeping operational costs as low as possible with the cloud. When it comes to lowering IT costs, moving to a cloud model is the clear solution. And, for firms that are already on the cloud it is recommended to assess if that cloud is still the best fit for your organisation. There’s much discussion around the following points when thinking about your cloud journey for 2020.
Omni-cloud vs. Multi-cloudInstead of managing each cloud separately, IT providers are increasingly helping businesses to manage everything in one place. Looking to 2020, our experts see where the workload runs changing infrastructure wise, whilst how it runs remaining the same.
Mobility and CollaborationThis is an area where we see significant amount of change in 2020. As a cloud services provider to investment sector, we’re seeing a shift in user experience driving cloud adoption. With remote work on the rise and increased demands for collaboration both internally and externally, the slowest component to catch up has been telephony. In 2020, we’re expecting more of a shift in telephony use within the investment sector. Microsoft currently have a beta version of a call recording function within Microsoft Teams out at the moment, which is looking promising for next year, enabling firms to utilise active call recording. With this in place, we’re expecting a shift in the choice of instant messenger services used by investment firms. Especially with the majority of businesses today using Microsoft Office 365, who will have a free subscription to Teams and other products within the suite for increased organisational collaboration and mobility. We’re also seeing the impact of business intelligence and automated workflows which comes with Office 365 as a business standard on the collaboration front in 2020.
SecurityAs the threat landscape continues to evolve a security by design approach is recommended to help firms tackle risks bespoke to the nature of their business. With this demand, we’re expecting more security products to come into the fold, especially with public cloud vendors. We’re already seeing the likes of Microsoft and VMware adding security enhancement products and features to their platforms which will be readily available to investment firms - potentially even as part of an existing package subscription. So, looking to next year it is certainly worthwhile for firms to assess and investigate new security products for the cloud, and whether these products might be better than what is currently in place.
Evolution of the DatacentreAnother interesting transition we’re expecting is that of the datacentre. They are becoming less about application hosting and more about secure network aggregation for a firm’s users and clients. Using a Palo Alto or the Cisco Fire Power series where clients are connected through a VPN, enables organisations to enforce a single corporate security policy across all clients and internal users. Aggregation through the datacentre is something we expect will benefit firms in the investment sector, as it goes into an omni or multi cloud model.
Watch the full 26-min replay to listen in on the full discussion, covering other key points including:
• Tips for ensuring effective usage and adoption of the cloud
• Operational outlook and cloud IT infrastructure investment
• Tips for investment firms preparing for and continuing their cloud journey