Like all technology trends, the cloud technology model emerged with a lot of hype and promise. It’s wise to step carefully into new ground, especially in the risk-averse finance and commerce segment where information has more privacy, security and regulatory concerns than nearly any other. Despite all this, a number of financial companies are making headway with cloud-based technology solutions across lines of business including ERP, CRM, supply chain, procurement, commerce, and front office applications.
Adopting cloud-based solutions offer a real opportunity for vast operational and technical improvements. In its narrowest definition, it’s a better, cheaper, faster, more scalable way to host software applications and large amounts of data. In its broadest view, cloud represents a transformative force, where new business capabilities and customer experiences can be launched and scaled with amazingly shorter timescales, lower costs, and reduced risk.