Reaping the benefits of a cloud-based service model: Insights from SS&C

By Munther Haddad

Many companies are departing from traditional deployed software models in favor of hosted and cloud-based services. According to Adox Research Follow The Money Insights, a survey of trade lifecycle automation priorities of 72 large asset management firms, shows that managers are extending the use of hosted and managed services in targeted areas in the middle and back-office. This shift is being amplified by the fact that cloud and hosting services can provide clients with more scalability and efficiency. To put the icing on the cake, these services can also automate day-to-day activities, support disaster recovery, as well as deliver database administration and monitoring services.

What’s causing this shift?

A good example of this cloud movement comes from DDJ Capital Management, an investment adviser based outside of Boston, Massachusetts with over $7 billion in assets under management. The company implemented SS&C’s PORTIA SaaS (“Software as a Service”) Platform to streamline certain of its business operations and deliver on its cloud strategy. So, why did DDJ decide to move to the cloud? First, DDJ had an uptick in asset and client growth following the financial crisis, making automated processes a necessity. Additionally, DDJ desired to free up its back office and IT resources to focus on strategic projects as opposed to administering overnight batch jobs. Finally, DDJ wanted more peace of mind when it came to disaster recovery efforts, and shifting to hosted services allowed for quick, remote server access.

Benefits of the cloud

With DDJ’s implementation of the SS&C PORTIA SaaS Platform, the company now outsources the creation, maintenance and oversight of nightly workflows and batch jobs, and achieves Straight-Through Processing (STP). The firm no longer has to oversee multiple technology processes related to batch jobs, system monitoring and distaster recovery that are now automated and handled by SS&C. As a result, DDJ has become a more agile and scalable company that can place greater emphasis on business objectives that boost the bottom line.

A closer look at the SS&C/DDJ partnership

As for the reason DDJ selected SS&C as a hosting service provider? This decision was strongly influenced by DDJ’s existing relationship with SS&C. DDJ was familiar with SS&C’s people, and the organization’s deep-rooted expertise and wide-ranging solutions.  SS&C believes that DDJ was impressed with SS&C’s thorough background in investment operations and IT infrastructure, and by utilizing SS&C’s hosting services, DDJ has been accordingly able to minimize the number of vendors that it needs to oversee since SS&C is a “one-stop-shop” for multiple services.

As the shift to cloud and hosted services continues to gain momentum, SS&C is working closely with clients to offer a seamless transition to the cloud. Middle and back-office operations will only continue to bog down IT departments,  which is why it is critical to seek solutions that promote efficiencies – as exemplified by DDJ’s decision to implement SS&C’s PORTIA SaaS Platform.

To hear more, watch Steve Simmons, Director, Data & Analytics, DDJ Capital Management video below.


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