A recent report from Deloitte found that 82 percent of financial services executives believe innovation is among the most important aspects of their industry moving forward. These companies are constantly in search of exciting new ways to run their businesses, design their products, deliver their services and do just about everything else required. Deloitte also found that an industrywide digital transformation is a top priority in financial services. That works out well, because IT is at the center of everything the modern enterprise does and needs. And, simply put, financial services companies need optimized IT performance at all times to support their goals.
Reduced downtime, latency keeps financial IT moving
Every organization needs its IT infrastructure to operate quickly and without error. However, a few extra seconds of latency can be devastating throughout the financial services industry, while extended downtime is disastrous. To avoid these issues, financial services companies need platforms and solutions that provide deep insight into IT performance. With a more profound understanding of each infrastructure component, IT teams at financial houses can dig into problems faster and avoid any impact on their operations.
We’re seeing time and again the clear need in enterprise IT for IT performance that can move at the pace of the digital economy. Keeping that speed requires real-time data analytics that eliminate the reactive nature of IT problem-solving. Instead of waiting for an outage to happen, IT workers can understand performance benchmarks and make adjustments when outputs veer too heavily from established levels.
Cost optimization achieved by better problem solving
Overprovisioning and unnecessary system upgrades have long inflated capital expenditures (CapEx) in IT. The problem isn’t exclusive to financial IT, but it’s common in an industry where speed is so important. Rather than throwing money at the problem, IT teams in financial services need a better answer now. Cost optimization is a concern that won’t be going away any time soon, even as rapid innovation is a demand throughout the industry. Understanding what financial infrastructures actually need, as opposed to what they use as a safety net, in terms of capacity to perform optimally means avoiding unnecessary operational costs to support IT, and a reduction in CapEx that comes with preventing upgrades that don’t really solve problems.
Deloitte’s survey didn’t reveal anything we aren’t already seeing and discussing with our customers day in and day out, but it did put the significance of IT performance in finance into clear perspective for those who may be less familiar with the nuances. Investment firms, accounting firms and others in the field need IT to support massive systems of the utmost importance. Achieving the desired goal of optimizing enterprise IT calls for a solution as robust and capable as the infrastructure it’s managing.
Considering an investment in a better way to manage IT performance? Find out how Virtual Instruments helped one global financial services company identify and solve VMware and SAN performance problems.