Why is Managed IT For Financial Firms So Important?

Managed IT for financial firms can mean the difference between technology that actively contributes to the quality of your work, or technology that makes everything you do more difficult. Is your IT a tool or a burden?
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The margin for error in the financial industry is razor-thin. A single decimal point out of place can be all that separates success from failure. 

When it’s that important for your business processes to be optimized, your IT plays a significant role in the success of your firm. Your IT is a central part of your firm because it helps you communicate with clients, maintain financial records and more. That’s why it’s so important for you to have the right IT company in Chicago; the consequences of inadequate IT are far too severe to leave to chance. 

What Does Managed IT For Financial Firms Offer You?

Finance, just like every other industry, is affected by the changes in our technology. Technology is responsible for numerous positive changes in every field or industry. A financial firm can get a lot more done each day with the professional software programs now available, especially if they have the right managed IT for financial firms.

Do you?

With Managed IT for financial firms on your side, you can harness a number of advantages:

  • Stand Out From The Competition As technology allows larger financial firms to extend their services to greater markets, it can be difficult for your firm to stand out. If you’re all offering the same thing, why would a potential client choose you over someone else? That’s why you need to harness newer technologies that help you differentiate your services – technologies like the cloud. Research by Xero shows that financial firms that have harnessed the power of the cloud have five times as many clients as those that don’t, for a number of reasons:
    • Being able to better expand as your staff and principals have secure access to each and every client’s financial information.
    • Lower costs in terms of your facility as there’s no need to expand or relocate to better accommodate large equipment and/or added staff members.
    • Greater communication with clients in terms of providing them better access to their financial information.
    • Enhanced productivity as there’s no need to disrupt your staff to make important updates to their systems.
  • Harness Innovative Technology Perhaps the most important challenge that financial firms face is the constant need to update their technology. You want to have the latest and greatest software programs and network services, but all this can be expensive. To make matters worse, technology is constantly evolving. Today’s smartphones offer advanced features you couldn’t get a year ago. For many firms, the best way to alleviate this concern is to find an IT company in Chicago and allow them to handle the technical aspects of your firm’s operations.
  • Manage Your Cybersecurity Both in the private and professional fields, cybersecurity is more important than ever – and for your financial firm especially. The fact is that the cybercrime business has never been bigger – it’s estimated that the global cybercrime industry will cause up to $6 trillion in damages in just a few years. It remains such a lucrative business because targets – like your financial firm – keep failing to learn how cybercriminals operate, and how to protect against it. That’s why you need to implement security solutions:
  • Email filtering
  • Two-factor authentication
  • Automated password and user ID policy enforcement
  • Comprehensive access and password management
  • Whitelist or blacklist external traffic
  • Patch/update all IT and security systems
  • Manage access and permission levels for all employees.
  • Review existing technical controls and take action to plug any gaps.

The truth here is very simple; it’s not a ten-point list, or a comprehensive, complicated strategy. The one thing to look for in Managed IT for financial firms is a team that understands the financial industry and the technology involved in it.

Infiniwiz works with many businesses in the Chicago financial industry, delivering our experienced and extensive services to assist clients in overcoming pain points and gaining a competitive advantage in the financial sector.