Aspect CEO Steve Hughes Discusses True Cloud CTRM Technology on CTRMRadio
Written by Brigette Gebhard, VP Marketing at Aspect Enterprise Solutions
Aspect Enterprise Solutions CEO Steve Hughes participated in the latest CTRMRadio podcast by ComTech Advisory. Hughes is a member of the advisory’s CTRM Thought Leadership panel, and explains the varied definitions CTRM software vendors are using for the term cloud within their own software environments, and why most of them are not “true cloud,” and don’t deliver the same cost savings and advantages of a true cloud product.
Below is a preview of what Hughes discussed on the podcast:
“Cloud can mean a number of things, and using the word cloud does not necessarily give you the economic advantages that people anticipate because of misinformation and misunderstanding… So, I think the whole thing about even those that have moved into “the cloud”, usually through adapting an application to work on Microsoft Azure, or whatever, I think that’s a good starting point, it helps get them on the bandwagon, but there’s a serious amount of work to do now to make it a true cloud application.”
Listen to the full podcast here.
What Hughes is referring to is the number of traditional, older software vendors who are now referring to their applications as cloud, when they can’t deliver the same benefits as real cloud solutions like AspectCTRM. For a solution to be truly cloud, it needs to be multi-tenanted. Multi-tenancy allows several clients to use a single software instance, significantly cutting costs since users share servers, maintenance fees, and development costs. With real cloud, software updates are released seamlessly during off hours, so users always have access to the latest version, with no business disruption. Across industries there are many vendors claiming to offer cloud solutions, but their software isn’t true cloud. They are simply moving their existing systems to an online application that isn’t multi-tenanted, and can’t scale up and down easily to benefit multiple global users.
ComTech Advisory’s CTRM Thought Leaders Panel consists of recognized industry professionals that serve as a source of expertise to the commodity trade and risk management technology market. The panel is represented by the brightest in the business, where industry experts share their insights and knowledge about current market trends and challenges.
Patrick Reames, Founder and Managing Partner of ComTech Advisory, says:
“Steve was chosen as a CTRM Thought Leader based on his experience as the head of one of the first dedicated cloud-based providers of CTRM solutions in the market, his insightful understanding of the value of the cloud as a platform, and his broad knowledge of the issues and concerns facing commodity trading organizations, and the role technology plays in addressing those challenges.”
Look for more interesting insights from Hughes in future ComTech Advisory videos, podcasts, interviews and live panels. To learn more about multi-tenant cloud solutions, visit this link, or watch this short video about real cloud vs. fake cloud to learn what types of questions to ask to help you understand if a solution is real cloud.