Major IT Financer states IT Industry must adapt to Cloud Computing

An article released recently by states IT solution providers are facing major changes in the way they develop their offerings to their commercial customers.

A report released by GE Capital states that, according to CDF (Commercial Distribution Financial, which provides more than $18 billion in financing to more than 1,300 IT solution providers globally in 2013) the growing interest in Cloud Computing is forcing IT solution providers to radically change their business model.

The report says that whilst solution providers have always been used to selling software and hardware products within their solution, the increase in cloud computing has seen a shift in what is now being offered. IT services are rapidly increasing in theses offering as companies try to push cloud based solutions to drive their business. This means the likes of Saas (software as a service) and IaaS (infrastructure as a service) are pushing out the more traditional on site solutions.

Mike Marcolina, senior managing director of CDF’s technology, electronics and appliances business is quoted as saying “Instead of making large sales related to one-time projects, solution providers are now offering long-term contracts for shared cloud services. That shift to recurring revenue streams is having a major impact on the way solution providers address a range of issues, from working capital management to employee compensation to capital allocation.”

The full article can be read here.

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