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Every Cloud has a silver lining ..

… doesn’t it?

By embracing new technologies, access to services via the Cloud offers corporate treasurers of every size of organisation the opportunity to improve efficiencies and further drive down operational costs. 

At SWIFT we are very well aware that any change to the way we do business brings with it a dose of healthy scepticism. New services available via the Cloud are no exception.  Whilst change is not without its challenges, the effort required can be made more attractive when there is a clear understanding of why it will be good for the organisation and what are the options. Whilst every size of organisation can benefit from Cloud based services, it is the small to medium sized corporates who have much to gain from cheaper, easy to use, secure services for their financial transaction processing activities.

In speaking with SWIFT users we have found that the key to understanding if Cloud technology solutions are for them is no doubt education.  Whilst Cloud technology touches so many aspects of our personal lives today, when it comes to business and in particular treasury functions there are some complicating factors.

If you were to start a business today from scratch, without any legacy data or historical trading activities to incorporate, embracing Cloud technology solutions would be an attractive proposition.

However, anyone who has been trading has to consider the complexity of their business, the need to be fully operational 24 x 7, the change be it technical, operational or personal that needs to be taken into consideration and of course that old nugget, all the legacy data.

They also know that they have the challenge of growing their business with what is often a historical investment and ongoing expense of equipment, software licenses, highly skilled resources and a culture that is often comfortable with the way things are today. 

It’s a balancing act but the pressure remains that business must be efficient and effective to succeed.  Change is unavoidable. 

Cloud technology as an option for improving financial transaction processing needs to be considered and we believe it comes back to education and awareness.

 

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Neil Gray

Neil Gray

Senior Manager Corporates Business EMEA

SWIFT

Member since

20 Nov 2013

Location

London

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