Private vs. Public Cloud? Which Strategy Will Help Your Firm Gain a Competitive Edge

Faced with a relentless stream of technological advancements that promise to provide your firm with a competitive edge, how do you determine which will make the most sense for you and your firm?

At the forefront of this important debate is cloud-based technology, which then begs the question: should our firm conduct business on the private or public cloud?

While alternative investment firms in pursuit of significant gains in flexibility and efficiency must deal with their own set of unique data management challenges, both private and public cloud solutions have its own set of pros and cons.

Successfully Mapping Out Your Cloud Migration

To help you map out your own successful cloud migration, Edge recently partnered with Gartner Research to publish the article: “How to gain real business value with an optimized cloud solution.” In it, Edge and Gartner begin by explaining:

  • Why the cloud is not a “one-size-fits-all” solution.
  • How to enable the best hosting decision (along with a link to an informative infographic that includes six critical cloud considerations).
  • Which viable option you might want to consider when you want the best of what the private and public cloud has to offer.

How to Design Your Own Cloud Strategy

The article continues to outline several factors to consider when designing your overall cloud strategy. Following are brief snapshots of each factor:

  1. Quality of Service
    Financial firms moving to cloud computing platforms—whether public or private—should always demand high efficiencies and network performance.
  2. Control
    Firms should insist that their cloud provider offer complete visibility into where their data is actually located for a variety of reasons, from investor and regulatory requirements to performance and latency concerns.
  3. Costs
    When evaluating which cloud approach to take (and the public cloud doesn’t necessarily mean greater overall savings) firms must carefully consider the total cost of ownership when analyzing both operating and capital expenditures.
  4. Security
    Your chosen cloud design should deliver a hardened perimeter network, supported by enterprise-class intrusion detection and monitoring to keep information safe and available.
  5. Support
    Managed service providers (MSPs) that specialize in the alternative investment sector employ technicians from the industry who are well-versed in the specific challenges and business issues arising in the financial sector, specifically asset management. This ensures that support engineers from the industry are familiar with business-as-usual systems and almost all typical financial services applications.

The Technology Strategy / Business Goals Connection

Regardless of which cloud approach your firm takes, keep in mind that all cloud technologies have a cost. Private cloud is typically viewed as a capital investment and public cloud is seen as a continuous operational cost.

While arguments can be made for and against each, your technology strategy should always align with your business goals. And data management best practices should always remain your primary consideration.

To learn more about migrating your firm to the cloud, we invite you to read our full article, How to gain real business value with an optimized cloud solution.”

Need help choosing a cloud solution for your alternative investment firm? Contact us for a complimentary consultation.