Cloud in the News

The rate of adoption of the Cloud in the industries we serve is increasing. Read what the analysts are saying.

“Around five years ago, Cloud was almost not in the picture. Now almost every client wants to understand the benefits and how they would manage the security risk of C/ETRM applications in the Cloud.”

Sunilkumar Ramakrishnan
Associate Partner, IBM

“We expect to see a significant adoption of cloud over the next 18 months due to the cost savings and security capabilities of the leading cloud providers.”

Baris Ertan
MD and Global Trading and Risk Lead, Accenture

“A lot of energy companies are simply not equipped to manage the explosion in data and do not have the human resources to manage this. Many would be happy to manage it in the Cloud.”

Sidhartha Dash
Research Director, Chartis Research

“The value of centralized repositories is evident in the collaborative nature of data funneling into one, concise location. This improved the accuracy and speed of the data. It is precisely this vaunted level of analytics that helps treasury make better informed, faster decisions. These solutions are best served when they reside on the cloud.”

Keir Walker
Senior Research Associate, Financial Management & GRC, Aberdeen Group

“Analysts suggest some firms are waiting for cloud ETRM providers to develop the technology and create wider system functionality before migrating.”

Stella Farrington
Risk, April 6, 2017 2017 C/ETRM Software Survey

Just under 43 percent of survey participants use some Cloud-based applications, and two thirds said they would like to use more Cloud-based C/ETRM applications. The top reason given for not using Cloud-based applications was that systems then available didn’t yet cover their needs.

Energy Risk Survey

More than half of the respondents were made up of oil, gas and electricity firms, with consultants, IT specialists, banks, brokers, traders and investors accounting for the rest – almost 43% said they used some cloud-based applications. For the risk function, cloud computing provides some potentially revolutionary benefits, say market participants and IT specialists. One of the most important is the access it gives to exponentially larger amounts of computing power. And by effectively ‘paying as you go’ for that power, the cloud makes it possible to process terabytes of data for intermittent or one-off projects that would otherwise require warehouses of in-house servers far beyond the budget of an energy firm’s IT department.