software

Forbes Loves Alphacution: “Software is Eating the World, Starting With Finance”

< Originally published by Tom Groenfeldt, Contributor, Forbes - July 31, 2018 > On its way to eating the world, software is eating up bank IT budgets, according to Paul Rowady, CEO of the consultancy Alphacution. Marc Andreessen, the venture capitalist, is the author of the famous quote about the general rise of software. Rowady, who is developing sophisticated models around finance and technology, sees software eating up IT budgets and crimping spending on hardware at banks. He thinks that compliance is to blame, something he plans to look at in more detail  in a future study. “Going back a few years I saw software needs crowding out hardware needs, and that led to the adoption of cloud and infrastructure as a service (IaaS). There is no off-the-shelf solution for enterprise-wide compliance, so a lot of budget went to that and couldn’t be used for other needs.” Compliance presents a challenge for big banks. “A lot of these larger players were loose conglomerations of businesses that had been bolted together for [...]

By | 2018-08-29T21:45:49+00:00 August 21st, 2018|Press|