Valuecube cuts costs by 50% over previous cloud provider with Oracle
Valuecube reduces time to market from 3 months to 1 week with Oracle Cloud Platform.
Valuecube develops software for financial institutions using state-of-the-art methodology and technology. The company’s products address risk management, corporate finance, and portfolio management and also provide innovative calculation models used to make critical decisions about planning, investing, and other financial management tasks.
After implementing infrastructure on a competitor’s cloud solution, Valuecube experienced a spike in maintenance costs as well as challenges in providing customers with a high quality of service. This situation was not sustainable for a small company working with major financial organizations, leading Valuecube to search for a cloud solution that would enable more efficient delivery of its products to clients.
Valuecube implemented its Oracle products and technologies in- house with assistance from Oracle. The company participated in workshops led by an Oracle Customer Success Manager, and, within a month, was able to complete the move to Oracle Platform Cloud on its own.
“Maintenance, version progress, even management of processors—it’s all faster with Oracle Cloud Platform. Through the applications within the dashboard, we can do the same job in a tenth of the time it used to take. Oracle Cloud Platform is easy to manage and above all, quick to manage.”
Business challenges
Offer the company’s solutions in a cloud model to eliminate time-consuming on-premises installations that are frequently slowed down by customers’ administrative requirements and often necessitate employee travel
Eliminate reliance on their existing cloud provider, which has less-than-optimal performance, needs manual maintenance, and frequent troubleshooting, and which experiences functionality and availability challenges
Demonstrate fast time to market, high availability and stability, and consistent uptime for Valuecube’s tailored financial software solutions
Ensure the security of customers’ financial information and availability of all critical operating functions by automatically deploying up-to-date security patches
Provide customers’ staff with single sign on for all Valuecube applications used throughout the customer organization
Why Valuecube Srl Chose Oracle
Results
Shortened time to market for Valuecube’s applications by 93%, enabling financial institutions to be up and running within 1 week, on average instead of 3 months, which were previously required
Gained the ability to deliver software updates to customers within 2 days, ensuring that Valuecube’s applications are constantly updated in compliance with regulations established by domestic and international authorities (such as ECB European Central Bank, IASB International Accounting Standards Board, BIS Bank for International Settlements, Bank of Italy, and others), which requires up to 50 releases per year for some applications
Reduced operational maintenance time by an average factor of 7—from up to 2 weeks to a maximum of 2 days—enabling Valuecube to focus on critical tasks, such as new software features
Cut the costs for operating the company’s cloud solutions by 50% over the previous cloud provider, which only delivered servers and cores, since Oracle Could Platform empowers Valuecube to run applications without operating the associated infrastructure
Simplified database management and backups with Oracle Database Cloud Service, slashing backup time from a full day with up to 4,000 backup commands to a single click
Provided customers with assurance for processing sensitive financial information in Oracle Cloud, leveraging Oracle’s standing in the financial services industry as a trusted provider and allowing Valuecube to compete with much larger providers of financial management software
Enabled common access to all applications for customers’ staff through Oracle Identity Cloud Service, which fulfills a mandatory requirement for financial institutions and required only little programming effort by Valuecube
Enabled additional cloud migration for future projects as cloud adoption accelerates in the European financial sector, uniquely positioning the company for growth