According to Barron’s, Mergers and Acquisitions (M&A) involving banks is on the rise again in 2018. Deregulation has a big part to play in this increase, but you might not realize the role technology plays in this activity. A marked increase in technology spending at bigger banks is driving higher returns on equity. Rolta|Advizex sees every day how investments in technology are modernizing these organizations and driving transformation that ultimately benefits all stakeholders.
Banks need to be concerned about security. According to Forbes, financial services firms fall victim to cybersecurity attacks 300 times more frequently than businesses in other industries. The typical American business is attacked four million times per year, but the typical American financial services firm is attacked a staggering one billion times per year. The rate of breaches in the financial industry has tripled in the past five years. The most costly attack types for financial firms are denial of services, phishing, and social engineering. Overall, banks lost $16.8 billion to cybercriminals in 2017. The cost of cybercrime also includes regulatory fines, litigation, the need to respond to negative media coverage, and lost business due to reputational damage, among others.
In any industry, it is paramount to align your IT goals with your business goals. In the cutthroat retail industry, this is more visible to the average consumer than ever. Retailers are using technology and digital transformation to gain the edge over their competition. Retailers are focusing on customer experience more than ever before, and they are using technology to innovate and satisfy customers by solving their real problems. Regardless of your industry, Forbes has predicted 2018 is the year that digital transformation is a must. In retail specifically, digital transformation is necessary to gain the competitive edge and keep the lights on with the doors open.
Today’s IT managers are facing some tough challenges. As digital transformation accelerates the pace of business, companies in every industry are under increasing pressure to bring new products and services to market more rapidly – while actively engaging with their customers through personalized experiences. To meet the organization’s demands quickly and efficiently, IT managers need to innovate and be agile, all while controlling costs and reducing security risks. As a result, modern data centers need to be flexible, scalable, and secure to power these organizations’ innovation and growth.
Since the 1850’s baseball has been known as America’s “national pastime.” Major League Baseball organizations and their home fields are synonymous with many American cities. Today, building and maintaining world-class facilities that offer fans more than just a place to watch a game, but a “total experience” is a necessity. Today, sports complexes across the country, technology is playing a significant role in the business of baseball. Whether it’s engaging with fans and customers via social media, managing security threats, competing for talent, or using data to increase ticket and food sales, all of it depends on a strong information technology backbone.
Many organizations approach data storage from a tactical rather than a strategic perspective, and that’s a mistake. Your organization doesn’t derive value from storing more data; it derives value from the information that comes from that data. When you view data storage through the lens of the business information it will generate, it changes the way you see your storage requirements. Suddenly, how much and how cheap aren’t the only decision drivers, as you consider how the scalability, security and accessibility of your storage architecture impact the extraction and flow of information through your business.
IT departments commonly complain about spending way too much time keeping their infrastructure running when they really want to be spending that time on projects that will positively impact the business. In healthcare, and hospitals in particular, these IT projects can impact the quality of care a patient receives or even potentially change patient outcomes. Seconds count when we are talking about saving lives, so streamlining operations and tasks in a healthcare setting can have a tremendous impact.
Technology is changing the way we do things, and this is especially true in health care. In the foreseeable future we will see new innovations such as, Telemedicine, Wearables, Mobility, and Artificial Intelligence used to administer improved care to patients. In 2015, 80% of doctors surveyed thought Telemedicine was a better way to treat chronic disease than traditional office visits. Wearables can transmit results from tests done in the comfort of a patient’s home in real time. Mobility increases accessibility for both doctors and patients. In 2018, it is predicted that 65% of health care interactions will occur on mobile devices. All this innovation and cutting-edge technology is improving patient care and saving lives, but it also exponentially increasing the degree of complexity in Healthcare IT.
Virtual Desktop Interfaces (VDI) are advancing the quality of patient care in hospitals. It’s really a win-win situation. Doctors, nurses, and clinicians are able to spend more time with their patients; patients receive better care; and IT gains more control over the data. IT manages all the application installation and upgrades from the back end, the physicians’ devices are never touched. Additionally, sensitive patient data is kept secure in the data center, rather than exposed and vulnerable on mobile devices.
In recent years, information technology has undergone a seismic shift as organizations embrace the cloud and explore exciting new technologies such as virtualization, big data, mobile communications and the Internet of Things. In the wake of this change, organizations often struggle to maintain and acquire the skills needed to effectively harness this technology in their business. Old skills need to be updated, new skills need to be acquired and competition for top talent has escalated the cost of IT operations. Now, more than ever, cloud managed services from Rolta|Advizex make good business and financial sense.