OpenLink Cloud is the world’s first enterprise cloud platform for trading, treasury and risk management, combining the strength and security of the Microsoft Azure platform with OpenLink’s own security and tools to ensure that clients’ systems and data are completely protected at all times. Its value essentially lies in unlocking further power from high-performance systems to deliver improved productivity, responsiveness and innovation.
Recent years have seen worldwide growth in the adoption of Cloud usage across all industry sectors. The results of a 2016 report by Cloud management platform provider Rightscale showed that 95% of surveyed companies had employed some form of Cloud, with 18% using public Cloud, 6% private Cloud and 71% some form of hybrid. Its increasing popularity is reflected in in market growth and value: The technology research company Gartner, Inc suggests that the worldwide market for public Cloud will grow by 18% in 2017 and will be worth $246.8 billion by the end of the year – up from $209.2 billion in 2016.
Energy and commodity-intensive businesses
Energy and commodity-intensive businesses have been among the forefront of those adopting Cloud-based solutions of one kind or another. There are a number of factors behind this. The narrowing of margins and increasing levels of competition in the sector are driving the adoption of proprietary analytics and the insights they provide; Cloud deployments of ETRM (energy trading and risk management) solutions allow firms to adopt analytics and data management solutions across various disparate areas including logistics, supply-and-demand data and forward curves. The so-called big data phenomenon has put current infrastructure under considerable pressure and here Cloud is providing a cost-effective method of managing what Gartner calls the three Vs of data: volume, variety and velocity. Energy and commodity-intensive companies have been quick to appreciate that the Cloud is not just useful in enabling special one-off projects, but it also means that routine tasks such as end-of-day or quarterly reports can be conducted more quickly. Finally, Cloud-enabled systems often have more intuitive user interfaces, meaning that traders and risk managers are far less dependent on the IT department for the necessary output, which leads to a more efficient workforce.