Tag Archives | Financial Services salesforce

Three Reasons Why LPs Are Finally Playing Catch-Up to Tech-Savvy Asset Managers

Cloud Computing Gives LPs Faster Technology for Better Portfolio Monitoring

 

 

 

 

 

 

 

 

It didn’t make headlines, but the news is a major development in the alternatives sector nonetheless. A large majority (83 percent) of limited partners (LPs) have either recently upgraded, or are planning to upgrade, their back office monitoring technology, according to a recent Coller Capital survey of LPs.

That type of stark departure from the status quo warrants some explanation.

For different reasons, LPs have been slower than GPs to embrace new technology. Public pensions are hesitant to spend tax payer dollars on new systems while smaller investors such as family offices and endowments tend to have less room in the budget for tech upgrades, even if it means savings in the long-run. As capital providers, LPs are also under less pressure than GPs to reap efficiency gains and savings from new technology in order to remain competitive.

So what’s changed? Three key trends explain the situation:

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Public Cloud Provides Most Data Security For Financial Services Firms

Salesforce for Financial Services, Financial Services Cloud

Corporate IT continues to argue that public cloud security cannot be trusted. They believe, mistakenly, that they can keep data more secure than the public cloud.

“We live in a world where data center breaches are in the headlines almost monthly, much to the consternation of corporate IT — the same corporate IT that fears the public cloud due to fears around data security. The truth is that the public cloud is more secure than the typical data center, and IT would get better security if it got past its prejudice against the cloud,” says David Linthicum, in his recent article.

Look at the recent hackings of Ashley Madison, Hilton and plenty of others. I’m sure they all deployed IT security specialists and spent a lot in managing security. But it wasn’t enough.

Because IT manages its own data resources, it believes it’s doing a better job than other people might, says Linthicum — especially those people at those cloud services where security practices are opaque. But it’s simply not true. Cloud providers have better security mechanisms in place and are more paranoid — and attentive — to security risks throughout their entire stack. Continue Reading →

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Is Navatar’s Financial Services Cloud For Force.com Popular Because It’s Low Cost?

At least 5 people asked me that question in the last 2 weeks. These people are customers, competitors as well as our partners. Everyone has been surprised at our success in the Financial market with our Force.com based services (or products, as some would call them) to manage operations for Capital Markets and Asset Management firms. But then, they figured it makes sense since Navatar is offering the lowest cost option to those who have no money to spend these days.

Is it true then, that our Financial Services solutions for Force.com are popular because they’re low cost? Of course. Navatar’s solutions to manage CRM, Operations and Portfolio for these firms are probably the most cost effective alternatives. They deliver on the Cloud Computing promise – to?lower costs and enable scalability as financial firms navigate the turbulent waters of today and prepare for the future. You can read about how Transparent Value, a Guggenheim Partners Company is achieving this, in the article, Asset Management Firm Moving Apps to the Cloud, written by Penny Crosman at Wall Street & Technology.

However, there is another important aspect to all of this. Around 60% of our financial customers bought from us since someone (another firm) recommended us. You would think the recommender probably said, “Yes, indeed, the cost is low and the product has all the features we need.” In reality, our recommenders endorse us for much more than that – they are happy to recommend us for the combination of product features and the service they receive from folks well versed in Financial Services. They like the idea of a one-stop-shop they can turn to, for anything related to running their operations efficiently. And it’s all baked into the cost of the service.

The service aspect really is the crux of the Cloud Computing model. A cloud service provider is a company that delivers cloud services as part of its business model. The public Cloud will be an abstract place through which service providers will deliver things like storage as a service, software as a service, or maybe even sushi as a service in Indiana one day. But the common link between all those things is, and ever shall be, the delivery of service. That quote is from an article Delivering Cloud Services: ISVs ? Change or Die or both! written byDaryl Plummer at Gartner.

So, let’s ask the question again. Is it really the cost?? My answer is that the big differentiator is the value that the Cloud Computing model enables us to provide. It makes us successful and it is exactly that value which will help our Financial Services customers take advantage of the new upcoming opportunities in this downturn.

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