Leaders in all industries are adopting cloud infrastructure at ever increasing rates. The financial industry is no different: According to a report by MarketsandMarkets, the finance cloud market is expected to grow at a CAGR of 24.4% to $29.47 billion by 2021. Cloud adoption offers many benefits that finance professionals want to take advantage of such as reduced costs, improved productivity, increased agility, and advanced analytics.
Yet moving to the cloud does have its drawbacks. By adopting cloud infrastructure, you achieve an elasticity that you won’t get on-prem. But you also miss out on rich data services, such as deduplication and compression, and performance scalability that you’ve come to expect from your on-prem datacenter. And without either of these things helping to keep your infrastructure capacity in check, your bill can quickly balloon out of control.
TPG Software’s Story
TPG provides investment accounting software solutions that support financial securities. Traditionally, its customers would self-deploy TPG software on-premise, but maintaining the right hardware and recommended operating system was a bit of a headache. By deploying a SaaS delivery model on GCP, TPG could deliver a consistently good application experience for its customers, as well as reap all of the other benefits of cloud.
TPG’s concern was how much capacity it would have to pay for. It has thousands of customers that each generate hundreds of reports every month – with peak activity time during the middle and end of the month. Ideally, the company wanted to be able to turn additional resources on and off as needed to meet these peak times – without the burden of paying for these resources during the rest of the month when they aren’t in use.
3 Ways Silk Reduces Cloud Costs
Ultimately, TPG achieved 30x cost savings with Silk’s Cloud Data Platform. These savings came from three different factors:
- Scalability – Silk offers the flexibility to scale up resources in the public cloud to support peak report workloads… and then scale back down for the rest of the month. This flexibility means TPG can always run its infrastructure at full efficiency and not pay for resources that it isn’t using.
- SQL Server Consolidation – With Silk, TPG was able to securely consolidate several application servers onto fewer SQL servers. With fewer database licenses, TPG saw 10x savings versus what they would have spent if they had self-deployed the application servers in their own database. In addition, by consolidating its SQL licenses, TPG was able to run and deliver customer reports 10-20x faster. This speed to intelligence means that customers are able to get reports days earlier than before, significantly improving customer satisfaction and boosting TPG’s image as a leader in the industry.
- Improved Performance on GCP – Silk also delivers impressive performance results compared to native GCP. Native GCP offers up to 100,000 IOPS for 4,000-65,536 GB of data (with lower IOPS numbers for smaller capacities). Silk, on the other hand, allows customers to dynamically add up to 880,000 IOPS of performance – regardless of their capacity needs. With this flexibility, Silk customers never have to pay for capacity they don’t need to achieve the performance that they want.
Want to see how Silk can help you deploy to the cloud in half the time at 30% of the cost? Click here to learn more about deploying Silk on the public cloud.