The financial sector: Not yet on board with the cloud

The cloud holds huge potential for the ECM industry. On demand cloud services, in conjunction with new deployment models, make the ECM attractive to totally new customer groups – for instance, for small to mid-sized companies who had shied away from introducing an ECM before due to costs and added effort. But especially in departments with critical information, there’s still some work to be done convincing decision-makers that the cloud is worth it.


Accounting departments hold back

At least, that’s what it seems like after reading the Microsoft and IBM IT cloud index. It shows, in black and white: while IT departments use the most cloud applications, and are most likely to be accepting of it to provide service solutions, it’s exactly the opposite in financial divisions. Here, users seem to give precedence much more often to protocols and classic on-premise solutions.


There are two reasons for this: first of all, companies who have already installed IT solutions don’t want to change if they don’t have to. Sort of like the old saying: “Never change a running system.” But on the other hand, especially in the areas of accounting and bookkeeping, there are often doubts about outsourcing critical company data and saving it in the cloud.


Still some convincing to do

When it comes down to it, consultants are frequently indicating that they have doubts about the cloud. Not just in the accounting division, but also in areas like human resources. But if we try to look at this fact positively, it’s clear these misgivings also offer a major opportunity.


To put it plainly: the fat lady hasn’t sung on this issue yet. If there are companies willing to diffuse safety-related concerns – for instance by trusting in highly secure, reliably available computing centres in Germany like EASY does – they’ll have some good arguments to make. These kinds of computing centres put a quick stop to hackers and access by agencies, and can offer actual physical deletion of data, just like EASY, without vendor lock-in. One thing’s clear: the advantages of the cloud are too great to keep them from being of interest to financial divisions in the long term.