The movement of enterprise computing to the cloud has been the dominant trend and topic in technology over the past decade. The asset and wealth management sectors have been slower than others to adapt to the cloud, largely due to security questions. Attitudes are changing, however, as more and more firms recognize the strategic benefits and agility to be gained by moving their core technology out of their offices. The past year’s remote work mandates further accelerated demand for anytime, anywhere access to the critical systems firms depend on.
So how is SS&C Advent responding to this trend and apparent growing demand? In December, Co-General Managers Karen Geiger and Steve Leivent sat for an interview with Waters Technology, and the company’s cloud initiatives were front and center. Among the key points they made:
- SS&C’s long-term goal is to have every one of its technology offerings deployed via a software-as-a-service (SaaS) model;
- Advent Outsourcing Services (AOS), which delivers Geneva, Advent Portfolio Exchange (APX), Moxy and other complementary hosted solutions, are the “bridge” to this all-cloud future state; and
- ~90 percent of the company’s recent sales have included some form of technology hosting, and outsourced services – a dynamic change from just five years ago
Karen pointed to the success of Advent Genesis, the cloud-native portfolio management and rebalancing platform, as a model for the transition to the cloud. “We’d like a transformation where we can offer an entire cloud-based suite, whether that means building additional cloud-native capabilities, or transforming some of our legacy solutions to be able to plug-and-play with a much more open cloud platform,” she said, adding that this is a multi-year endeavor. Wider cloud adoption will make it easier to launch new solutions and ultimately deliver on the promise of a cohesive front-to-back experience on a single platform.
Also discussed were the extensive collaborations underway between SS&C Advent and its partners within the larger SS&C Technologies enterprise. Integrating the many solutions offered by SS&C creates ample opportunity for diverse product teams to leverage knowledge and information sharing, coordinate efforts, and create tighter integration where it makes sense. A prime example is the effort to unify the Geneva and Eze OMS platforms, which fund firms use frequently in tandem – even before Advent and Eze were joined under the SS&C family.