Gravitas, a provider of private cloud, collaborative outsourcing, risk analytics and research support to the alternative investment industry, announced today that it successfully conducted a large-scale disaster recovery (DR) readiness exercise by failing over multiple clients simultaneously. The readiness exercise was conducted as part of Gravitas’ larger, ongoing refinement of best practices related to disaster recovery and business continuity.
The disaster recovery readiness exercise, conducted in late November was especially notable since it involved “failing over” multiple Gravitas clients residing in the Gravitas Private Cloud. Twenty-five Gravitas staff members participated in the exercise. The event was designed to test the automatic failover of a client’s cloud instance to a redundant datacenter, thereby preventing any actual disruption to clients’ businesses. Gravitas Private Cloud is a scalable and integrated solution built on VCE’s VBlock, the industry’s most advanced converged technology platform.
Based on a 2011 Ponemon Institute survey of 41 independent data center facilities, including financial services and other industries across the country, the average cost of data center downtime is approximately $5,600 per minute. Considering an average reported incident length of 90 minutes, the typical cost of a single downtime event was estimated at approximately $505,500.
“As hedge funds increasingly migrate to private cloud as part of their growth strategy, safeguarding performance and related factors such as Service Level Agreements is mission-critical. With continual enhancements to our service offerings, Gravitas looks forward to providing funds with customized solutions that integrate people, processes and technology in innovative ways to provide material cost efficiencies and operational security.”
Gravitas’ Private Cloud offers multiple benefits: secure hosting in dual, geographically dispersed Tier 4 datacenters, continuous replication between datacenters to enable automated DR failover, and 24x7 monitoring and administration supported by Gravitas’ global Network Operating Center (NOC).
Since the launch of the Gravitas Private Cloud in June 2012, Gravitas has migrated more than 43 clients to its private cloud and has established itself as a leading provider of private cloud services for alternative investment firms, from startups to established funds.
“The expansion of our technology footprint has given our clients the confidence to scale as they continue to grow their funds,” said Jayesh Punater, CEO of Gravitas. “Gravitas Private Cloud delivers measurable ROI through greater flexibility, scalability and significantly lower upfront costs, with turnkey infrastructure and security that regulated financial firms require.”
Gravitas was named “Best Outsourced Technology Infrastructure Provider” in 2013 and “Best Overall Technology Firm” in 2012 by HFMWeek in its US Hedge Fund Services Awards.
About Gravitas Gravitas is a leading co-sourcingTM platform providing cloud technology and collaborative outsourcing for investment support and middle office services to the alternative investment industry. Founded in 1996, the company provides hedge funds, private equity funds and other alternative asset managers with unique and flexible co-sourced offerings for systems integration, technical support, risk analytics, software development, investment operations, investment research support and more. From co-sourcing and advisory through implementation, Gravitas designs creative solutions that give clients the operational freedom to invest, innovate, and scale. The company is based in New York with offices in Chicago, Greenwich, Mumbai and Ahmedabad, India. www.gravitas.co