Financial Firms

Why Partner With Us?

Instant Access To Expert IT Services

With over two decades of experience supporting financial and accounting firms, Structured Technology Solutions has the resources and expertise you need to maintain your reputation (and your bottom line).

Why partner with managed services provider?

Financial firms hire MSPs to gain access to expert IT services, enhance cybersecurity, ensure compliance, improve operational efficiency, and reduce costs, allowing them to focus on their core business goals while maintaining robust and secure IT infrastructure.

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Business Continuity Planning

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After more than twenty “tax seasons,” STS President, Art Cline, has perfected his plan for accounting firms. He incorporates the adage, “two is one… one is none” from his years in the US Air Force to emphasize the need for redundancy when partnering with financial firms. While STS is not an internet provider, we know our clients cannot conduct business without reliable, consistent internet. We help firms maintain 24/7 uptime by instituting the following:

STEP 1

Maximize primary internet by ensuring the wiring in the building is capable of transmitting the speeds provided by the ISP. Often businesses are paying for speeds they aren't getting because their infrastructure doesn't support it. Steps can be taken to maximize the speeds that businesses pay each month to their ISPs.

STEP 2

Install a “failover.” Every business that requires internet to operate should have a “failover” system.

STEP 3

Data backups that allow us to “spin up” a replica of your environment that can be accessed from anywhere. This option ensures access to necessary software and file in the event of physical damage to your office or a crisis.

STEP 4

Ensure “after hours” support is available during tax season as many CPAs are working hours beyond the standard 9-5. At STS, we support multiple industries that require onsite and remote support at unusual hours including businesses operating in the hospitality/restaurant industry, manufacturing companies running shifts 24 hours a day, and of course, accounting firms putting in long hours to support clients in filing taxes.

More Reasons To Partner With Structured Technology Solutions

Cost Efficiency

  • Predictable Costs: MSPs typically operate on a subscription or fixed-fee basis, allowing firms to better predict and manage IT expenses.
  • Reduced Capital Expenditure: By outsourcing IT infrastructure management, the firm avoids the large capital costs of buying hardware, software, and maintaining in-house IT teams.
  • Scalability: MSPs allow firms to scale their IT needs up or down based on business demand, without investing heavily in new infrastructure or staff.

Access To Expertise

  • Specialized Knowledge: MSPs offer a team of IT professionals with specialized skills in areas like cybersecurity, cloud computing, and regulatory compliance, which may be difficult or costly to build in-house.
  • Industry Best Practices: MSPs work with various clients and can implement best practices across industries, including financial services.
  • Regulatory Expertise: In the financial industry, firms need to comply with regulations like GDPR, SOX, and SEC regulations. MSPs are often experts in these areas, helping firms stay compliant and avoid costly penalties.

Cybersecurity and Risk Management

  • Proactive Monitoring and Security: MSPs often provide around-the-clock monitoring, threat detection, and security updates, helping to safeguard sensitive financial data.
  • Incident Response: MSPs often include robust disaster recovery and incident response plans, helping financial firms mitigate and recover from cyberattacks or breaches.
  • Compliance with Security Standards: Managed service providers help financial firms meet stringent security standards required by the industry, like PCI DSS, NIST, and ISO 27001.

Focus on Core Business

  • Offloading IT Management: By outsourcing day-to-day IT operations, financial firms can focus on their core competencies, like managing investments, serving clients, and developing new financial products.
  • Increased Productivity: Internal teams can focus on strategic initiatives rather than troubleshooting IT issues or maintaining systems.
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Advanced Technology and Innovation

  • Access to the Latest Technology: MSPs stay up to date with the latest technology trends and tools. This ensures the financial firm uses cutting-edge technology without constantly having to research, invest, and implement it.
  • Cloud Solutions and Infrastructure: MSPs can help financial firms migrate to and manage cloud services, which offer flexibility, scalability, and efficiency for modern business operations.

Improved Uptime and Reliability

  •  24/7 Monitoring: MSPs offer continuous monitoring and support, minimizing the risk of downtime and ensuring that IT systems are available when needed.
  • Service Level Agreements (SLAs): MSPs often guarantee uptime and response times through SLAs, ensuring that critical financial systems remain operational.

Compliance and Regulatory Support

  • Regulatory Compliance: MSPs that specialize in financial services can help firms meet complex regulatory requirements and perform necessary audits. This helps in reducing regulatory risks.
  • Data Protection and Governance: Financial firms handle sensitive data, and MSPs provide the necessary security controls, policies, and governance to ensure that data is protected according to legal and regulatory standards.
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Risk Of A Security Breach Is Not Worth It...

According to IBM's Cost of a Data Breach Report, financial firms typically lose around $5.72 million per data breach on average, which is significantly higher than the global average, due to the sensitive nature of the data they handle and the potential for severe reputational damage from a breach. Financial institutions face stricter regulations around data protection, leading to potential fines and legal repercussions from breaches. Customer loss and trust issues can significantly impact revenue after a cyberattack.

Contact Us Soon For An IT Evaluation.