Despite the meteoric rise of cloud computing, actuarial software (and the financial services industry in general) seems to be lagging behind. Numerous articles written over the years point to the benefits cloud computing can provide, but most software available today still requires too much manual intervention. Be it installation and maintenance of desktop software, or manually managing servers and other hardware.
It’s time for a 100% cloud-based solution.
In this article we outline the benefits that cloud computing provides, and how Slope Software uniquely implements those benefits to offer a complete, end-to-end, actuarial modeling and analysis platform. While the benefits of cloud-based software are already abundant, here at Slope we strive to take advantage of the latest technology and innovations to make financial projections easy to maintain, manage, execute, and analyze.
No installation necessary. Cloud based applications allow users to get up and running in a matter of days rather than months or years.
At Slope: Sign up with your e-mail and get to work building financial models immediately. We offer proof-of-concepts to test out the software, along with training, documentation, and a base financial projection library to get started.
No patching, no upgrading, no testing of the software. All this is handled automatically, including installation of new features on a regular basis and updating hardware to the latest standards.
At Slope: We provide regular updates to the software every couple weeks. No more waiting around for months or years for new versions of software. As long as you’re a customer, you get every new feature that we build.
With cloud computing, application users can scale compute power and other resources (such as users) as needed, only paying for what is needed and not needing to worry about running out of capacity.
Cloud applications can be accessed securely from anywhere on any device with an internet connection. All that’s needed is a modern web browser.
Applications in the public cloud allow for users to more easily share data within the system, often having built-in capabilities for this, rather than manually managing files, configuration, data, or other information.
Instead of having files and data on individual machines or being passed around via e-mail or other insecure means, all data is stored securely in a virtual private cloud.
Scale the number of users up or down, modify permissions, and configure other relevant preferences to the needs of the business as it changes.