THE CHALLENGE
Our new client was laser-focused on growth. Their approach to Information Technology (“IT”) was to make it as efficient and lean as possible. Security and controls were a secondary consideration. But, their success was beginning to demand that the historical “growth-first” approach to IT strategy change – they needed to change from growing despite their IT strategy to growing because of their IT strategy.
It was time to bring IT into the conversation as a strategic part of the growth plan, but their existing Outsourced IT Services provider that handled “everything that plugged into a wall” had no experience in the asset management space. They had no context for its regulatory requirements and challenges. A response to “how can we…” was more likely to take months than days, and might have a completely unrealistic answer since it did not fit into a framework of regulatory requirements and best practices expected by investors.
Our client needed to find an IT solution that was eager to come to the table in strategic conversations, understood how to support their initiatives, and knew the IT strategy that investors and regulators would require as they grew. Where could they find a solution that would mature their IT in line as they grew?
MATURING AS YOU GROW
OUTSOURCED IT SERVICES
OUR
SOLUTION
Our IT Services group at FSG is led by a management team that has in-depth knowledge of the regulatory environment. Communication is a key part of the culture at FSG. This leads to a natural distribution of knowledge and experience across functional areas, and allows our IT Services group to quickly implement new solutions that regulators and investors are introducing within our Outsourced CFO and Investors Services business areas. We are not an “IT firm” implementing “IT solutions” – we are a “business growth firm” implementing “business growth solutions”, and one element of how we do that for our clients is via our Outsourced IT Services.
We were able to smoothly step into the management of the IT strategy for our client, help them understand priorities and risks, and identify what changes needed to happen right away versus which could happen over time.
We first focused on users – they are often the weak link in an IT environment. Password management, phishing testing and training, and access controls were all implemented. Processes that supported our client’s growth also needed to be established. Onboarding new hires and offboarding departures became a linear process, with systems identified and ownership of user management on those systems shifted to FSG. Licensing and network configuration were reviewed and brought to industry standards. Clear, simple tools and reporting were provided to the management team of our client so they could understand what had been done, what was in process, and what lay ahead, allowing them to easily explain their IT strategy to investors and other critical stakeholders.
THE RESULTS
Our client is still laser-focused on its growth, but now it doesn’t have to avoid the topic of “IT strategy”. FSG provides them with the documentation, tools, and team that they need to deliver in those moments with confidence. Their IT strategy has changed from a stressful topic they hoped didn’t come up in conversation, to a topic of pride that is promoted as they interact with investors and regulators!