Dallas financial services firms are a cut above. In such a complicated and competitive industry, staying focused on serving clients and generating returns is critical. For many financial services firms in the D/FW Metroplex, that means finding an IT partner to make sure their network and applications are optimized and secure at all times. Making the decision to work with an IT firm is no small task. Careful consideration of the right partner is paramount. Yet long before searching for the right IT or managed services firm there is a more important question to answer: Is it time for outside IT help in the first place?
The role of technology in financial services is critical. In such a competitive and complicated industry, using IT to its fullest potential can be the difference between success and failure. Financial services companies need to focus on their clients’ demands and using IT can help them do that. Technology can provide a competitive advantage by allowing employees to focus on their core tasks, improving productivity and maximizing technology investments.
Getting the Timing Right
When it comes to choosing an IT partner, timing is everything. Engage too early and you may find money wasted. Engage too late and you may be playing catch-up for months or even years. If you wait until your company is in a state of crisis, you may not be able to find the right partner or get the most out of your partnership.
The best time to partner with an IT firm is when you’re experiencing one or more of the following five signs that it’s time for help:
Five Signs that it’s Time for a Technology Partner
When employees are spending too much time away from core tasks
Additionally, when employees are left to install updates and patches on their own computers or troubleshoot a malfunctioning device (like a printer) then that is time taken away from the work they should be doing. Is there really time to spare when markets are open, and clients are expecting the highest possible performance?
If your employees are spending so much time on IT tasks that their actual job performance is impacted, it’s time to consider getting outside help. Having someone else handle the day-to-day maintenance of your network and applications will free up your employees to focus on their work, improving productivity overall.
When you have concerns about security
A security breach can have a devastating impact on a financial services firm. Not only can it lead to the theft of sensitive data, but it can also damage the firm’s reputation and cause customers to flee. In addition, a security breach can be costly to fix, and it may even result in litigation. It’s therefore essential for financial services firms to take steps to protect their data and their networks.
In an industry where data security is of the utmost importance, any concerns about the safety of your network should be taken seriously. If you’re not confident in your ability to keep your data secure, it’s time to bring in a partner who can help you create a secure environment.
When you want to maximize productivity
We don’t need to tell you that the importance of productivity for financial services firms can’t be overstated. In such a competitive and complicated industry, it’s essential to use every tool at your disposal to stay ahead of the competition. And in today’s digital age, that means making sure your network and applications are running at peak performance.
If you’re not getting the most out of your technology, it’s time to make a change. By working with a partner who can optimize your network and applications, you can free up resources and improve employee productivity.
When you are acquiring or being acquired
When a financial services company is being acquired or sold, the role of technology can be critical. In some cases, the purchase or sale of a company can hinge on the ability to integrate the buyer’s and seller’s IT systems quickly and smoothly. And in other cases, the security of sensitive data can be at risk.
If your company is going through an acquisition or merger, it’s important to have a partner who can help you integrate your IT systems. A partner can also help you assess and improve your security posture, ensuring that your data is protected.
When non-IT employees are responsible for IT tasks
When non-IT employees are responsible for IT tasks, it can lead to a number of problems. First, these employees may not have the necessary skills to handle the task at hand. This can lead to frustration on their part, as well as decreased productivity and mistakes that can jeopardize the security of the network.
In addition, non-IT employees may not have the time to devote to IT tasks. This can leave your network and applications vulnerable to attack or simply not running as efficiently as they could be.
If you have non-IT employees who are responsible for IT tasks, it’s time to consider outsourcing your IT. Having a partner handle your IT will allow your employees to focus on their work and will ensure that your IT is being handled by experts.
What About Growth?
Business growth is a great sign, but in and of itself, growth is not a reason to find an IT partner. It is possible that your growth will not impact your technology needs, at least not right away. Keeping an eye on how resources are allocated, productivity gains and losses, and security threats are far more instructive to this decision than simply looking at business growth independent other factors.
Knowing When to Ask for IT Help
There are a number of signs that it may be time to seek outside IT help for your financial services firm. If employees are spending too much time away from their core tasks because they’re dealing with IT issues, if you have concerns about security, or if you want to maximize productivity, it may be time to look for an IT partner. Other times when outside IT help may be needed include when you are acquiring or being acquired, when non-IT employees are responsible for IT tasks, or when you simply want to focus on your core business and leave IT to the experts.
When done right, working with an outside IT firm can provide a number of benefits for financial services firms. If you’re considering outsourcing IT, be sure to carefully consider your options to find the right partner for your company. Axxys Technologies is a full-service IT firm that specializes in serving the needs of financial services firms. We can help you assess your IT needs and find a solution that fits your budget and your company’s goals. Contact us today to learn more about our services.