I spoke with a CIO yesterday of 2 small businesses who is presently immersed in a large effort to right size one of them.
In order to remain viable in their industry, his company has shed the parts of the business that aren't able to produce results during these difficult times.
Now that they've done all of the external reshaping of the business, they're turning their attention in 2010 to the internal operations, re-evaluating and streamlining wherever they can to shave costs.
His on premises IT system isn't able to scale in this direction and under the circumstances is simply overbuilt and antiquated (excessive number of user licenses, excess compute capacity etc).
He's creating a plan to move out from under this system and into the flexible framework of a cloud-based solution where a much lower and predictable subscription fee will be the result.
It's not a question of technology as much as it is a question of keeping the business viable. Many CIOs are facing a similar dilemma and the choice they make could have profound implications for their companies.
A decision to remain with a legacy, on premises solution without fully investigating the opportunity to save considerable cost and streamline a business is not a prudent course of action these days.
TrueCloud can help you formulate your plan. Give us a call soon. 2010 approaches!
Dave Rice CEO, TrueCloud
www.truecloud.com
Wednesday, December 16, 2009
Monday, December 7, 2009
New TrueCloud Conversations Video Blog - TCO and Cloud-Based Software Solutions
If you get a chance, please take a look at my recent video blog on the topic of the fantastic cost savings available by re-deploying your core systems into the cloud.
TCO Video.
Dave Rice CEO, TrueCloud
www.truecloud.com
TCO Video.
Dave Rice CEO, TrueCloud
www.truecloud.com
Wednesday, December 2, 2009
Responding to Regulatory Mandates by Redeploying to the Cloud
If you haven't heard about "Red Flag" requirements for financical institutions and creditors to help fight identity theft, you may want to get familiar with them. Federal authorities, among them the FTC have combined to issue regulations that stipulate that "creditors" which includes auto dealers, mortgage brokers, utility companies and telecommunications companies just to name a few will be required to implement identity theft prevention programs by June of 2010. No doubt this is just the beginning. These programs must include provisions for indentification, detection, and response to patterns, practices, or specific activities known as "Red Flags" all of which are indicators of identity theft.
How many of us are aware of IFRS (International Financial Reporting Standards) and their impending changes that will no doubt impact every company? It's apparent already that IFRS disclosures will require a great deal more detail and transparency then the present day US GAAP standards (Generally Accepted Accounting Practices). These changes are so widesweeping that access to transaction data previously housed in the front to middle office systems will have to flow through to the back-end financial systems like never before.
And the changes that will have to be made to the financial reporting processes currently in place for most companies appear at first blush at least to be staggering. If not properly addressed in the core systems the result will be more spreadsheets and countless adjustments that will lead to escalating costs in accounting personnel.
As I see it, these are just 2 examples of the brave new world that lies ahead for businesses trying to keep up with increasing demand placed on their IT. I've heard of similar regulatory mandates that in process now related to distirbutor and manufacturer supply chains
I'm stating the obvious here, but meeting these regulatory obligations by enhancing your IT, does nothing to advance the bottom line.
A big part of the answer is to consider the redeployment of your core systems to the cloud and place the burden for these enhancements squarely on the shoulders of the service provider who will be required to make them on behalf of an entire community of users.
Get out of the IT business as quickly as you can!
Contact us at True Cloud.. We can help!
Dave Rice CEO, TrueCloud
www.truecloud.com
How many of us are aware of IFRS (International Financial Reporting Standards) and their impending changes that will no doubt impact every company? It's apparent already that IFRS disclosures will require a great deal more detail and transparency then the present day US GAAP standards (Generally Accepted Accounting Practices). These changes are so widesweeping that access to transaction data previously housed in the front to middle office systems will have to flow through to the back-end financial systems like never before.
And the changes that will have to be made to the financial reporting processes currently in place for most companies appear at first blush at least to be staggering. If not properly addressed in the core systems the result will be more spreadsheets and countless adjustments that will lead to escalating costs in accounting personnel.
As I see it, these are just 2 examples of the brave new world that lies ahead for businesses trying to keep up with increasing demand placed on their IT. I've heard of similar regulatory mandates that in process now related to distirbutor and manufacturer supply chains
I'm stating the obvious here, but meeting these regulatory obligations by enhancing your IT, does nothing to advance the bottom line.
A big part of the answer is to consider the redeployment of your core systems to the cloud and place the burden for these enhancements squarely on the shoulders of the service provider who will be required to make them on behalf of an entire community of users.
Get out of the IT business as quickly as you can!
Contact us at True Cloud.. We can help!
Dave Rice CEO, TrueCloud
www.truecloud.com
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