Like most things in life, change is inevitable, and that holds especially true in technology; and now for the first time, the CTRM-ETRM software vendor space is moving to the cloud with the introduction of "CTRM Cloud." So, you might think that you've heard the claim of cloud or "hosted" in the CTRM- ETRM trading software space and most likely you have. In fact, many of the established vendors make hosted claims and some may even use the term cloud but are they truly cloud computing? Or are they more a “lift and shift” of a software system built for on-premise installation to a hosted solution? Can they really offer all the benefits of a true cloud-native solution or is it only that you are only saving a few bucks on hardware costs?
So, what is all the fuss about and why is cloud computing so popular and so important. The high-level goal of cloud computing is to be able to operate an application, in this case a CTRM-ETRM trading system, in the cloud 24x7; connected in a cloud universe where you and others (tenants) can instantly reach and interact with your trading software on any device (mobile etc.) anytime. Ultimately, it should help you achieve better, quicker and more accurate (one version of the truth) risk management results; and at a much lower cost, due to the fact that there are no software contracts, no maintenance fees, no software upgrades and no hardware to maintain etc. Wow, now did I get your attention? That is the ultimate benefit of true cloud computing, less hassles, less cost and less downtime!
So, what differentiates cloud computing from hosted or hybrid computing. First, let me try to expound on the confusion why "Cloud" is a term often misused and then I will define what "True Cloud," means. Today, most legacy CTRM-ETRM trading software vendors, for the most part, install their software on hardware within a firewall or intranet providing secure access and perhaps offering some limited mobile views. This is not uncommon and most likely the norm in the industry even today. Now that cloud computing is moving from a fad to becoming the new industry standard, some vendors have moved their legacy applications onto servers that are accessed via the internet giving a cloud-like feel in an effort to update their offering. However, they are really a hosted solution, disguised as cloud computing, with all the problems of a complex, monolithic, on-premise enterprise application; multiple versions of software leading to quality issues, long turnaround time on bugfixes and enhancements, performance issues, outages, etc.
Today, as cloud computing platforms are becoming mainstream, it is putting pressure on all technologies to become more easily accessible and affordable. CTRM-ETRM software vendors, claiming cloud or software-as-a-service (SaaS) in many instances, are misrepresenting what they are really selling. For example, taking an existing fat client CTRM-ETRM software platform and implementing it as an internet accessed application or "pay-as-you-go" service is not cloud computing. So what is the difference between a hosted internet-based or accessed application and a "true cloud" application? Cloud computing can be defined, at the highest-level as such; if it's not in the cloud, it's not cloud computing - so let's look at what constitutes cloud computing.
In my view, there are really four main areas that define or constitute what is a "True" cloud computing solution:
1. Abstracted Infrastructure. Meaning any component can be upgraded or exchanged without affecting the operation of whatever is running above. This abstraction enables continuous and seamless improvements to the solution without any disruption to the end users.
2. As-a-services infrastructure. This is a bit techie but stick with me; as-a-service infrastructure supports self-service provisioning, or the ability to deploy an information technology by using pre-defined procedures via an application without requiring human intervention- or simply "truly virtual." What that means to cloud customers is enormous cost savings and productivity gains by not having to support an application with expensive hardware and IT support etc.
3. Multi-tenancy. A true, cloud native application is multi-tenant, where each tenant’s information is kept secure and private to that tenant, but they still all benefit from a shared infrastructure and a solution, which include things like common reference data, a single version of the software that is of much higher quality, constantly and seamlessly improving with regular updates, 100% uptime, etc.
4. Scalability. The above benefits of multi-tenancy support the fourth and final defining attribute of cloud computing i.e. cloud scale - or the limitless ability of a cloud computing application to grow with an organization without expanding one's infrastructure, for example, hardware requirements and IT resources etc.
I hope this helps to clarify and reiterate the benefits of true cloud technology. Thank you for subscribing to our blog to stay informed on CTRM-ETRM trends and technology advances.
About "CTRM Cloud"
CTRM Cloud is a true cloud computing trading and risk management software platform for commodity markets. We started CTRM Cloud with the vision of a scalable, sophisticated, yet easy-to-use software (SaaS) solution founded on the pillars of modern technology supporting rapid implementation and the lowest cost of ownership available in the industry. Backed by the financial support of Eileses Capital and built by the expertise of a team with over 100 years of combined CTRM-ETRM technology experience, we aim to revolutionize the commodity and risk management trading software vendor space. Start enjoying the benefits of true cloud enterprise risk management technology today. To request a demo, click the “Request a Demo” button below. Thank you