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Open Source Featured Article
November 07, 2008
Covestor: Open Source is Key to Increasing Performances During Economic Recession
By Shireen DeeCovestor recently announced that Sirius Corporation will provide its assistance to Covestor in the use of open source database technologies for increasing the performance of its businesses. While Sirius will extend its assistance to Covestor in the development and support of its many production systems, focus will be on the open source software.
“We've been saying open source software is a no-brainer for a decade. Now we're seeing companies like Covestor realizing that it can hold the key to prospering when others fail,” said Mark Taylor, chief executive officer of Sirius Corporation private limited company.
Sirius Corporation provides medium and enterprise level organizations with various open source services that can result in the maximization of productivity and minimization of risks. While in 2008 it became the only provider of Becta-accredited open source software to schools in the UK, Sirius has since its initial days provided support for various systems like the Open Source Voice over Internet Protocol (VoIP) telephony systems and identity management services, enterprise databases and operating systems.
“With budgets tighter than ever, the interest in Open Source software has never been greater. The absence of licensing fees means that it saves you money from day one. In the longer term, the ability to customize systems based on Open Source technologies empowers your people to innovate more rapidly,” Taylor added.
Online real-trade sharing service provider, Covestor was launched in June 2007 and aims to help self-directed investors compete with professional fund managers. Covestor is the only platform providing successful self-investors with the facilities to share real investment decisions and earn money by helping others.
Covestor’s strong belief is that the open source software is a solution to the adverse impact that the present day economic conditions have had on the performance of most businesses. According to Covestor, the removal of overhead of software asset management along with a freedom for restriction-less customization of systems will help businesses use the open source software for rapid innovation and growth when compared to their competitors.
“As a start-up we need to innovate rapidly. Open source software allows us to do that, both from a cost and speed point of view. We can integrate, configure and build on top of our open source software stack freely to meet our changing needs,” said Perry Blacher, founder of Covestor.
Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users. Today’s featured white paper is Fixed Service Strategies for Mobile Network Operators, brought to you by Comverse (News - Alert).
Shireen Dee is a contributing editor for TMCnet. To read more of Shireen's articles, please visit her columnist page.
Edited by Michelle Robart
