Cloud computing moves past benefit 'tipping point'

Cloud computing is moving passed its benefit tipping point, with many of its capabilities and cost efficiencies now exceeding those achieved by in-house data centres around the world, according to a new white paper from the Depository Trust & Clearing Corporation (DTCC).

Entitled Moving Financial Market Infrastructure to the Cloud, the paper stated that the capabilities, resiliency and security of cloud computing services has now surpassed those offered by on-site IT teams.

As a result of this revelation, DTCC has stated that it will evaluate opportunities to expand the use of the cloud to external services and applications where applicable, with the ultimate goal of leveraging cloud capabilities to reduce risk and costs.

The organisation added that both understanding and gaining market acceptable for this level of significant changes in technology would require industry-wide communication and open discussion between firms and countries.

Commenting on the proposed advancements in cloud computing, Robert Garrison DTCC CIO added that the organisation believes the technology could represent an efficient alternative to corporate data centres.

"We believe cloud computing has moved past a tipping point and that the security, scalability, resiliency, recoverability and cost of applications in the cloud are better than many private enterprises could achieve on their own," he said. "As a result, we will pursue a strategy of building a cloud ecosystem that supports best practices and standards."

Despite their optimism, DTCC acknowledged that moving applications that were originally developed within a data centre into the cloud may not immediately deliver benefits. In fact, the firm revealed that such a manoeuvre could lead to additional complexities.

As a result. DTCC's paper goes on to suggest that companies introducing cloud strategies should carefully examine each application before it is implemented to make sure they can achieve their intended benefits.