Why Financial Companies Need Outsourced IT Services

If you work in financial services, technology is very much an integral part of business. This is for a number of reasons – the number one being compliance. Financial services firms must abide by very strict rules regarding the retention of customer data. This is the same no matter where you are – every country has their own legislation around data protection (in the UK, for example, there is UK-GDPR and the Financial Services Act 2021.) London in particular is well known for hosting some of the UK’s biggest financial services firms. So, if you’re a London based financial services organization you should consider partnering with one of the IT partners providing IT support London based financial firms put their trust in.

Outsourced IT services are an excellent option for small to medium sized businesses or enterprises. Condensing the whole of your IT expenditure into a single outgoing subscription is very useful for businesses – It helps streamline your bottom-line, and makes budgeting for the future easier. If you’re a slightly larger organization, however, make sure to look for Managed IT Support London financial firms use, because they will have IT knowledge specific to finance. For example, if a managed services provider has experience setting up cloud services for a financial firm, they will know all the ins and outs of making sure the cloud environments are fully compliant with current legislation. They will also be very good authorities on security and have learned comptia IT fundamentals.

Outsourcing IT services can also help you get great deals of software licensing. For example, a managed IT services provider could get you preferential rates on Microsoft 365, which includes Microsoft Office. The Office 365 applications are also very good for financial firms – with it, you can centralise the storage of your documents, meaning you are not creating unnecessary duplicate; the Office 365 applications also have excellent retention policies – your data is kept in Microsoft’s cloud datacenters, which are highly redundant. You should have no trouble finding Office 365 Support London firms trust as well, as it is one of the most popular suites of applications in London.

So, if you are a financial services company, whether you are based in London or anywhere around the world, it is highly recommended that you look into outsourcing your IT.