INSIGHTS

Microsoft and leading New Zealand-owned investment advisory firm, Craigs Investment Partners, have signed an agreement to migrate Craigs’ operations to Microsoft’s forthcoming hyperscale datacenter region.

The scalability and capacity of Microsoft’s datacenter region is intended to ensure Craigs can continue to offer industry leading service to its more than 60,000 clients through its next phase of growth.

“Our goal is to continue to be the leading wealth management and investment advisory business in New Zealand, by continuously improving our service to our clients. Migrating to the Microsoft New Zealand datacenter region is the next logical iteration of our digital transformation journey, to ensure we deliver for our clients now and into the future,” said Simon Tong, Chief Executive Officer of Craigs Investment Partners.

“That means responding nimbly to rapid changes in financial markets and empowering our advisers with world class technology to provide an advantage for our clients. We’re building not just for now, but for the opportunities the future holds.”

The agreement means Craigs will no longer have to own and manage datacenter equipment in-house, freeing up resource for things that add more value to its clients and teams, while minimising cost, maximising performance and enhancing security.  

“Over the last 18 months, we’ve moved our business intelligence capabilities to Azure, which has saved an average of 30 per cent of runtime every day to import and transform our data. This agreement will ensure we are placed to start providing data for clients in near real-time, giving us the platform to make more informed decisions and provide the best possible service to them,” says Tong.

He also cited the importance of the new hyperscale datacenter region’s sustainability credentials in making the investment.

“At Craigs we recognise the importance of operating sustainably in line with our values, and of making a positive impact in the communities in which we operate. Having Microsoft’s datacenter infrastructure powered by 100 per cent carbon free energy from opening is great for our business and for our environment, and aligns with our sustainability programme,” he said.

Vanessa Sorenson, Managing Director of Microsoft New Zealand, said Craigs’ decision to become an anchor tenant of the new datacenter region, set to open next year, validated the findings of a recent IDC report that spending on public cloud would double in the next five years, generating billions more for the economy.

“Organisations are looking to public cloud to enhance their competitiveness and long-term sustainability, recognising it’s a deflationary tool as well as an enabler of innovation. What this agreement does is enable Craigs Investment Partners, which employs people across the motu, to better serve local communities while also building limitless capacity for growth. That’s a win for Craigs, for Microsoft, our national and regional economies and the environment,” she said.