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FEATURE SERVICING Cloud technology is perhaps the most critical characteristic of a solid IT strategy these days. file type, and name the files using exacting conventions. "That's a pretty tall order," Redmer says. This is where the cloud companies seem to be growing more comfortable with the cloud-based model and working with SaaS providers." comes in—specifically, a data technology referred to in the industry as "Software as a Service" (SaaS). That means the software you use to access your data is also on the cloud, making for a more agile, updateable, and reliable user experience, usually through a special browser window or application. (It's often cheaper than the alternatives, too.) "This is now happening with very large companies who would have never considered using SaaS before," says Sanjeev Malaney, CEO of the San Francisco doc-sharing tech provider Capsilon. "These Securing the Market F hesitant to join the cloud, because of security concerns. But putting your info out there isn't the same as putting your info out there. "There is a common myth that SaaS is unsafe, but this is no longer the case, and the growing adoption of the cloud proves it," Malaney says. Vendors have raised their game to deliver such a high level of service that this has opened the eyes of larger institutions to or a while, big financial services providers seemed embrace and to feel comfortable with the model. Your info is as safe in the cloud as it ever was on another in-house server. "Even the late adopters in the industry have now adopted," he adds. "Lenders should no longer consider only on-premises software solutions—the cloud is here to stay." With privacy concerns out of the way, you can focus on growth—because cloud technology for data storage isn't just serving a need today, but potential needs in the future. When choosing a tech upgrade, Redmer says, look for security: a user-friendly web interface, generally with drag-and-drop capability for documentation; mobility across computer platforms, from desktops to tablets and phones; deduplication of boilerplate docs and phrasings, so they aren't taking up tons of storage space; and straightforward scanning and indexing, so you can recall any individual doc (or 500,000 of them!) with relative ease. "We are on a pretty high-end private cloud," Redmer says of his new DMS. "It's given us the ability to scale up our capacity. Everything is more dynamic." If computer and mobile devices go through a bunch of revolu- tions in the next few years, NDeX will be ready to scale up seamlessly because of the way it stores its information now. "With our private cloud, I can go buy hardware, I can run any system I want on that hard- ware," Redmer says. And most important: "We can also ingest more clients into our cloud." THE M REPORT | 55 ORIGINATION SERVICING ANALYTICS SECONDARY MARKET