Why AIM Solutions Are Important in IT and BFSI Sectors
The rise of the Internet of Everything, a new wave of computing powered by the rise of next-gen technologies like IoT, Industry 4.0, and the cloud, has changed the way IT infrastructure operates in the modern world, writes Saloni Walimbe, Team lead – Content at Global Market Insights.
The internet era has brought about a major transformation in the business and technology world, with the scope of network infrastructure growing wider each year. According to estimates from Internet World Stats, 2021, over 65.6% of the global population has access to the internet.
While this expansion in internet connectivity has increased network performance, it has also given rise to unprecedented complexities associated with the point-to-multipoint connections that have become a necessity in the modern world. These complexities make proper monitoring and management of these networks increasingly challenging, prompting operators to shift their focus towards developing advanced technologies, such as Automated Infrastructure Management (AIM) solutions.
Traditional documentation approaches, which rely heavily on manual input, are proving to be inadequate for the needs of the modern IT infrastructure and are less efficient, time-consuming, and vulnerable to inaccuracies and human error. AIM solutions, on the other hand, not only allow IT, operators to save time but also increase efficiency and reliability in the documentation processes for complex networks.
The COVID-19 pandemic has been especially beneficial for the Automated Infrastructure Management (AIM) solutions market, which is expected to cross USD 4 billion by 2027, according to Global Market Insights Inc. report estimates. With most of the world forced indoors due to the lockdown mandates implemented in the early days of the crisis, remote work became the norm, amplifying the need for robust IT infrastructure management solutions.
The Rise in Demand for IT Infrastructure Security Solutions
At the core of any successful tech-enabled business’s operations lies its infrastructure, making infrastructure security one of the cornerstones of its overall growth strategy. This is especially evident in an era where cybersecurity threats continue to evolve into complex and wide-ranging threats to the digital world.
Ransomware attacks, for instance, have become a major concern for the IT domain over the past few years. In June 2021, the networks of over 200 businesses in the U.S. were crippled by a ransomware attack that used the network management package of software developer Kaseya as a conduit to make its way through various cloud-service providers.
To safeguard themselves against such potentially paralyzing cyberattacks, facility operators are turning toward AIM solutions industry contenders. These solutions will help them quickly identify, respond to, and counteract incidents of a security breach while strengthening IT infrastructure security against future risks. This, in turn, has prompted solution developers to bolster their IT infrastructure management portfolio with advanced security solutions.
For instance, in July 2022, Indra announced that it was in the final stages of certifying its infrastructure management platform, Horus, as compliant with the most stringent security standards for managing industrial automation and components under the IEC 62443 certification.
With cybersecurity considered to be essential to such an integrated ecosystem, the IEC 62443 certification was a way for the company to ensure timely identification and mitigation of any susceptibilities, underpinning the importance of solutions like an automated infrastructure management system in IT security.
Facilitate Monitoring of Complex IT Infrastructures
The move to multi-cloud architectures has emerged as a significant global trend over the past decade. Organizations across the industrial spectrum are becoming increasingly accepting of the digital world in their quest to keep up with rapidly evolving customer expectations and demands.
In the heavily regulated banking and financial sector, this transition has manifested more recently, as legacy financial systems accept the need to adapt their operations to suit the needs of modern customers. The banking sector’s shift to the cloud was further accelerated over the past few years, especially in the wake of the COVID-19 pandemic.
With consumers increasingly relying on digital means of payment, financial institutions had to rework their technology roadmaps, with cloud initiatives and investments leading the charge. According to a survey by Capco, financial institutions spent close to USD 36 million on cloud projects in 2021, representing the increasing willingness among bankers to spend on cloud integration.
However, while this multi-cloud transition has opened myriad opportunities for financiers in terms of flexibility and such, the complexities associated with a multi-cloud environment have increased simultaneously. In an environment where end-to-end visibility is paramount, potential blind spots in a complex cloud environment can create tremendous pressure for BFSI IT teams, forcing them to focus on strenuous manual infrastructure management rather than innovation.
Fortunately, solutions such as automated infrastructure management (AIM) are emerging as a game-changer for these teams, by providing a sustainable approach for cloud infrastructure management, allowing them to reinvest their time into driving digital transformation. AIM solutions are enabling financial service institutions to empower their IT teams with a more intelligent and comprehensive approach to IT infrastructure management, through services ranging from server management and administration, surveillance, network management, data center modernizations, and more.
A notable example is a risk assessment service introduced by Uptime Institute in February 2022 to ease concerns among banking institutions regarding the reliability of their increasingly complex hybrid IT infrastructures. Brought into effect as a solution to address burgeoning outage issues among major financial institutions was designed to identify potential outage risks by thoroughly assessing the banks’ critical IT infrastructures, including multi-tenant data centers and enterprise data centers well as public and private clouds.
3 key partnership & collaboration strategies driving progress in the AIM solutions industry
- UBiqube – Alaxala Collaboration
In July 2022, Alaxala announced a partnership with Dublin-based infrastructure management automation orchestrator developer UBiqube, to create and commercialize a new DevSecOps solution to automatically identify and address security threats.
- Accenture’s Sentia acquisition
In August 2022, Accenture announced plans to acquire the businesses of Sentia in Belgium, Bulgaria, and the Netherlands, which is where the cloud consulting firm has its headquarters. With over 500 certifications, Sentia’s 300+ cloud specialist team in the three regions will join Accenture Cloud First as part of the acquisition.
- OpenGov’s acquisition of Cartegraph
In July 2022, OpenGov announced the expansion of its government cloud solutions portfolio through the acquisition of Cartegraph, a cloud solution for infrastructure asset management and public agency operations. Bringing together two dynamic, mission-driven teams, the acquisition was a step forward for both entities to step up their efforts to accommodate the evolving IT infrastructure demands in the present and future public sector.
Automated infrastructure management solutions market players are playing a major role in the current IT landscape, given the ability of these products to facilitate seamless remote monitoring and management of all infrastructure performance, cabling, and connectivity. Considering this, network managers have become increasingly accepting of the technology, effectively positioning the automated infrastructure management (AIM) solutions industry as a game-changing sector in the modern IT ecosystem.
Timely detection and response to potential security risks have become key areas of concern for operators dealing with large-scale networks, creating a strong demand for AIM solutions. In recent years, several organizations have been vying for a complete enterprise reinvention by implementing strategies like building a fit-for-purpose, scalable cloud foundation to become more resilient and future-ready. Since having a solid digital core is a key part of this transition, organizations are focusing on expanding their scope in the automated infrastructure management (AIM) solutions industry through collaborative strategies.
How do you think AIM solutions proving to be indispensable in the BFSI and IT ecosystems? Let us know your thoughts on LinkedIn, Twitter, or Facebook. We would love to hear from you!
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