Rackspace Technology Cloud Services Enables Early Adoption of AWS Cloud Services for Precia to innovate and Spearhead Valuation Methodologies

Rhea-AI Summary

Rackspace Technology (RXT) has facilitated the early adoption of AWS cloud services for Precia, a subsidiary of the Colombian Stock Exchange specializing in financial valuation solutions. Since 2014, Precia has opted for AWS due to its swift deployment capabilities. This partnership has led to improved response times and agility in addressing customer needs, establishing Precia as the first Colombian financial entity to migrate workloads to the cloud. This move is expected to enhance the stability of Colombia's financial system and position Precia competitively in its industry.

Positive

• Rackspace Technology enabled Precia's early adoption of AWS cloud services, enhancing operational efficiency.
• Precia is the first in the Colombian financial market to migrate workloads to the cloud, improving its competitive stance.
• Increased response times from AWS have positioned speed as a new product for Precia, allowing quicker customer response.

Negative

• None.

SAN ANTONIO, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, announced it has enabled early adoption of AWS cloud services for Precia, a regional provider of valuation solutions and financial portfolio management, by innovating and spearheading the adoption of the AWS cloud services.

Precia, a subsidiary of the Colombian Stock Exchange, provides regional valuation and management solutions for financial portfolios. Its goal is to develop and operate fair-value calculation methodologies for all instruments on the balance sheet of financial sector entities, including fixed-income securities, equities, derivatives, structured products, companies that aren’t listed on the stock exchange and other assets.

Precia began analyzing market options, and IT analyst reports in 2014 and chose AWS cloud services for its infrastructure and quick deployment capabilities. Rackspace Technology became an extension of Precia's technology team and offered continuous feedback, leading to quick and efficient results without any downtime via AWS Managed Services.

“By partnering with Rackspace Technology, Precia has achieved a leading position in its industry via the AWS platform,” said Jeff DeVerter, Rackspace Technology Chief Technology Evangelist. “Thanks to increased response times, speed has become a new product by itself, which has allowed Precia to be more agile when responding to customer needs.”

Precia has earned the distinction of being the first company in the Colombian financial market to migrate workloads to the cloud and secured its place as an organization that’s able to contribute to the stability of Columbia’s financial system.

"Rackspace Technology has proven to be the partner that truly has the knowledge and support to handle the biggest issues. They know how cloud technology works and have the partnerships and expertise to make it a reality,” said Juan Manuel Quintero, CEO of Precia. “By incorporating Rackspace Technology as its ally, Precia is more than looking for new infrastructure: it is looking for a way to do things differently. With better response times achieved, speed has become a new product, allowing them to be more agile in responding to clients' needs as part of the innovation process.”

Click here for the PRECIA case study.

About Rackspace Technology
Rackspace Technology is a leading end-to-end multicloud technology services company. We can design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.

Media Contact 
Casey Shilling
publicrelations@rackspace.com

FAQ

What is Rackspace Technology's role in enabling AWS cloud services for Precia?

Rackspace Technology facilitated the early adoption of AWS cloud services for Precia, improving operational efficiency and response times.

How has Precia benefited from migrating to AWS cloud services with Rackspace Technology?

Precia has achieved improved response times, agility in customer service, and a leading position in the Colombian financial market by migrating to AWS.

What distinguishes Precia in the Colombian financial market?

Precia is recognized as the first company in the Colombian financial market to migrate its workloads to the cloud, contributing to the financial system's stability.

What date was the press release regarding Rackspace Technology and Precia issued?

The press release was issued on August 31, 2022.

What stock symbol is associated with Rackspace Technology?

The stock symbol for Rackspace Technology is RXT.