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|Demica completes move to the Cloud|
|Thursday, 03 November 2016|
Demica, the specialist provider of working capital solutions to major corporates and banks, has completed the move of its client infrastructure to the cloud to handle an expected doubling of volume in the next three months as new clients join the platform and existing client requirements increase. This ensures that Demica can continue to offer its customers market leading reliability, scalability and elasticity for their supply chain and trade receivable financing requirements, taking advantage of ongoing technological developments.
Commenting on the move, Demica Chief Technology Officer Daniel Kustrin said: “Being the first major trade receivable finance and supply chain finance platform in the cloud allows us to take on any size of client with no additional technology requirements, to focus on client service rather than infrastructure management and to ensure that we offer the best possible value. This is essential as we continue to grow the number of clients as well as the volume of invoices financed by our platform on behalf of clients.”
A move to cloud infrastructure provides specific benefits to Demica and its clients:
1. Scalability: As clients’ financing needs increase and the number of invoices going through Demica’s system continue to grow, the use of cloud based processing ensures that this growth can be met without any infrastructure constraints. In addition, Demica can work with new clients, no matter their size, without any additional technology or data processing issues.
2. Reliability: The nature of cloud computing ensures that client data is protected and that any specific hardware failure is inconsequential. Data and systems can be replicated geographically, providing redundancy and reliability that would be difficult to achieve outside the cloud.
3. Elasticity: Processing and data storage requirements can vary at different times. Demica’s new cloud service ensures that meeting increased needs at specific times of the day can be handled easily and automatically.
4. Locality and security: Cloud offers the ability to store clients’ data in the most appropriate jurisdiction and at the required level of legal protection according to their specific access, data protection, encryption and management requirements. At-rest and in-transit encryption, combined with the top of the range security provide additional protection for client data.
Demica clients have moved to the firm’s new cloud infrastructure, while all new clients are being rolled out directly to the cloud. Dr Kustrin comments: “The first live programme on the platform was a trade receivable securitisation for a new client, a major European telecoms company with initially over 4m invoices outstanding on any one day. We were able to focus on delivering exactly what they needed without any technology constraints, with a fast and problem-free project delivery. Without the scalability of the cloud this high volume programme would not have been as simple as it was.”
The move to the cloud has also made Demica a clear choice for a broad set of programmes from very large receivables financing, such as handset securitisations, to European corporates with strict data location policies, to major retailer SCF programmes with thousands of suppliers.
Demica is growing rapidly and will to be able to manage the expected increase in the volume of invoices in the next three months without any restriction in terms of technology or processing for new or expanded client requirements.
“As we continue to harness the flexibility and agility offered by the cloud, we are moving to a DevOps approach that allows our infrastructure, development and operations teams to work much more closely together, enabling fast and streamlined delivery of new services to the market and rapid take-on of new clients while continually optimizing and improving client experiences,” added Dr Kustrin.
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