Executive Editor, Cloud Computing
Five years ago, the term “cloud computing” was scantily heard. Within the last 12-18 months, companies have adopted cloud-based services at a healthy pace, with the latest industry forecasts predicting a bright future. A recent IDC (News - Alert) study concluded that revenues from cloud-based services will jump from $21 billion in 2010 to a whopping $72 billion by 2015.
As recently as year ago, no one in the RIA business understood the cloud or the concepts of PaaS (Platform as a Service) or IaaS (Infrastructure as a Service), according to Christopher Anderson – head of business development at Investment Technology Partners (ITP), a hosted IT provider.
“Talking with RIAs back then, it was clear that most had very little idea of what the cloud offered,” he said. “They all knew – on some broad level – that the tools of tomorrow will not be software they will load in their offices, but other than that, they were mostly unsure of how the cloud could affect their business.”
The cloud movement has obviously come a long way in the last few years.
“The cloud movement is about much more than
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