ROLLING MEADOWS, Ill., June 10, 2011 /PRNewswire/ -- Quadrant 4 Systems Corp. (OTCQB: QFOR), a leading IT consulting company ("Quadrant 4"), today announced the launch of a set of new initiatives for Cloud Computing, Data Management and Managed Services for the financial, health care, and retail verticals. These new initiatives will provide Quadrant 4's global customers with a cost-effective model for securing, transporting and distribution of data and streamlining applications within a Web-hosted environment.
The global cloud computing market ('the Cloud') is expected to grow from $37.8 billion in 2010 to $121.1 billion in 2015, representing a compound annual growth rate of 26.2%, as forecast by industry researcher MarketsandMarkets.com. "The digital management of data is making a definitive transition from hard-wired computing solutions to that of the Cloud. This month, Apple Computer announced its plans to bring cloud computing services to its consumers. Quadrant 4 is taking a similar lead in the small- to-mid-sized business market with the launch of our cloud platform to all new and existing customers. Our solutions can reduce overall IT services and maintenance costs, while streamlining operations, which can result in increased productivity for a wide range of customers," said Nandu Thondavadi, CEO of Quadrant 4.
"The U.S. federal government's initiative to implement an electronics records management system poses immediate challenges in the storage and retrieval of large volumes of highly sensitive, confidential data. Our data security and management initiative not only addresses the health care industry, but also is common across all our market verticals and represents significant new sales opportunities for our company," said Dhru Desai, Chairman and CFO of Quadrant 4.