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How Hiring an MSP Can Help a Private Fund Supercharge Its Finances
Today, technology is changing at the speed of light, promising big rewards for smart investors. But investing smart is no longer possible without embracing technology and many financial institutions are finding themselves stuck between the proverbial chicken and the egg.
Private investment funds have traditionally been slower to adopt new technological trends. This makes total sense at first glance: after all, why invest time, effort, and money into IT when you can invest it in scoping more investment prospects? Unfortunately, sticking to the old ways of doing things can lead to decreased efficiency and even higher costs further down the line. In today’s market, there is no reason to attempt to tackle your IT needs on your own. Here are five major ways that hiring a Managed Services Provider (MSP) can help your private fund supercharge your finances.
Lower IT Expenses
We all want to squeeze every penny of profit that we can from our revenue, and this applies in the financial world too. Managing your own IT infrastructure can lead to operating costs much higher than necessary. Not only is the hardware expensive, but the manpower to manage these hardware costs even more. You want your staff to be fully focused on finances, not servers and cords. That is where an MSP can help.
By hiring an MSP to service your IT needs, you can eliminate a lot of those overhead costs. You are no longer required to buy hardware that will be outdated in a few years. You do not need a fully dedicated internal staff to handle issues as they arise. You can take care of all these needs through one relationship with your MSP and greatly reduce the overall cost—and headaches—of your IT.
Increase Operating Efficiency
Traditionally, businesses spend a lot of money upfront to buy servers or other computing power before ripping the benefits. However, most MSPs offer models that allow you to buy computing power as it is consumed. In addition to saving money, this allows your operations to run much more efficiently.
Your business no longer needs to have a fleet of idling resources. Rather, your IT resources are deployed dynamically to exactly match your needs. Your resources can be scaled up or down based on your current needs. This can increase the efficiency of your human workforce as well. Many routine tasks can be automated, thus allowing your workers to focus on higher-value activities that require human cognitive ability.
Take Advantage of New Technology More Quickly
Technology is changing quickly, and it can be cumbersome and expensive to try and keep up. Constant software updates and new applications can put a strain on your IT personnel. This often leads to updates being put off and new software purchases almost non-existent. By delaying these updates, you may be putting your firm at security and financial risk. Using an MSP can help alleviate these issues.
Your MSP can automatically patch and update your software for you as new releases become available. You can also rely on your MSP to test new software as it becomes available and deploy it to your IT environment if it is something that can benefit your organization. This lets you stay up to date on the latest technology and use it to your advantage. This allows you to keep yourself protected from potential cyberattacks and also helps ensure that you are up to date from a regulatory compliance aspect.
Scale Your Business Easily
As your private fund grows and you take on more clients, your IT needs also grow. When managing your IT infrastructure internally, keeping up with this growth can be a challenge. It may require purchasing new hardware, obtaining new software licenses, or adding more IT staff. This all takes time and can hinder your company’s growth if it is too slow.
By turning to a managed services provider, you can easily scale up your operations to meet the demand. Your servers and other hardware can be scaled up almost instantly through the use of virtual machines. New software deployments can be done within minutes instead of days. There is also no need to worry about additional staffing concerns since your MSP handles that piece of things. It creates a win-win situation because it allows you to scale quickly to match pace with your growing business. Faster growth leads to increased revenue which is always a good thing.
Never Miss a Deal
Missing a deal that promised rainfall is every investor’s worse nightmare. Today, you don’t know when and how such a deal may come through. The last thing your partners and staff want is not having access to everything they need to seize the opportunity right there and then.
Working with an MSP gives you instant access to decades of expertise in assessing, combining, and implementing the exact remote work and virtual office solutions that are right for your business, equipped with top-level security, backups, and ease of use. Off-the-shelf IT solutions may promise the same benefits but often cost you more in hidden fees, remote training, and functions and tools you don’t really need. An MSP like 3nom will offer you custom and customizable solutions fit perfectly to your devices, security needs, and budget, with no access and endless flexibility.
Personalized IT can give private funds the edge they need to get ahead in the volatile times. Talk to your 3nom advisor today about your needs — let’s design your custom IT solution for financial success together.