Technology is fundamentally changing business platforms and the way managers and executive directors plan, operate, manage, market, communicate and make a profit in business. In fact, some of the best-known brands and successful entrepreneurs focus on and are driven by the latest technologies. By embracing technological innovations and technology driven services it allows corporations to be viewed as more successful, strategic and forward thinking in the eyes of shareholders.
In established businesses and organizations, technology has – and continues to play – a massive role in determining which companies struggle and which adapt and thrive. Predominately, it’s the companies that embrace technology to adapt their business models are those that stay sustainably competitive. Partnering, up-stream and down-stream, including service providers allows businesses to strategize, innovate, manage competitive threats and improve operational efficiencies. Add all that up, and it creates value. Value that translates into highly positive shareholder perceptions.
Outsourcing is not new – outsourcing is a paradigm in successful business. Outsourcing to IT managed service providers (MSPs) not only reduces expenses but helps to free up management to focus on their core business objectives. Outsourcing can either strengthen or destroy shareholder value depending on how it is managed throughout the organization. As executives consider various outsourcing initiatives, they should make decisions based on concrete valuations including shareholder value, not on the latest trends. Competitive advantage is maintained by those organizations that look to various channels to measure their competitive advantages. In the end, the short-term focus is on operational excellence and the long-term on sustainable profitability.
It is becoming more commonplace for corporate board members to show an interest in ensuring that the business is embracing technology, implementing long-term strategies and improving their bottom line. The largest percentage of market values are made up of non-tangible assets such as customer satisfaction, brand awareness and perception. If investors believe a firms’ reputation conveys insight into the profit and long-term potential, it will influence its appeal as a strong investment choice.
What Does This Mean For Your Business?
It means the value of your business and the reputation of your organization if you’re in the public sector, is heavily determined by your ability to embrace innovation. More specifically, outsourcing operations such as technology, legal, accounting etc., to service providers that excel in those activities has lasting impact.
Some benefits of experienced managed service providers in Technology for example, can bring the following value-adds to your organization:
- Asset Life-cycle management: This is a very important but often overlooked topic. An experienced IT MSP ensures that you don’t have un-budgeted expenses, by managing the projection, sourcing, commissioning, and decommissioning of the hardware and software that constitutes the technology infrastructure for your operations.
- Integration: Many big companies, e.g. Target in Canada, suffer from not planning sufficiently well-ahead for expansion and acquisition. Hiring an MSP to manage your back-office can prove to be beneficial, especially when such MSPs have experience in your industry sector.
- Data management: Critical business decision often depends on having real-time access to data. Accessible data also enhance analysis which target process improvements. It comes as no surprise, that to many investors, poor data management is viewed upon negatively.
- Security: What is the value of having your data and IT protected? Are modern threat detection, firewalls, backup and recovery in place? A corporation that is susceptible to data breaches is essentially devaluing itself and reducing its appeal to shareholders. Managers now need to focus on the management of the risk profiles of their organizations because there is an inherent link between risk and shareholder value. Reputational losses can have substantial negative impact on an organization and they have a direct impact on shareholder value. Therefore, risk management can’t be ignored as it is a driver of shareholder value. Managers need to be managing operational risk and reputational risk and an experienced MSP can help bridge that gap.
- Compliance: Wealth investors take privacy and regulatory compliance seriously. The use of MSPs are essential to ensuring compliance. Good ethics, governance and regulatory compliance is very important to boards of directors and must be demonstrated with the use of MSPs. Compliance benefits managers who know how to conserve effort, reduce costs and position their companies for long-term growth.
- Latest Technological Advancements: Experienced MSPs keep abreast of technology advancement and leverage technology developments to further benefit your organization. For example, IT MSPs are providing advanced technology such LEO Satellite technology to provide inexpensive connectivity to remote offices.
At Interface Technologies, we are intimately involved in the mining, finance, law, accounting and various other businesses in the private and public sectors. We provide tailored advice based on your business model and specific IT needs. We know how to embrace the user and customer experience and we know how to deliver sound operational models and strategies to help create efficiencies for your business. Shareholders value having experienced people on board. With over 30 years of experience providing specialized corporate IT needs, we can help you build your corporation’s image in the eyes of shareholders and future shareholders.
Interface Technologies is a leading Managed IT Services Company located in Toronto, Ontario.
For over 30 years, Interface Technologies has been providing managed IT services to hundreds of successful businesses in the Toronto and surrounding areas. We have your IT service needs covered from top-to-bottom with services including fibre internet, IT support and consulting, business VoIP and private cloud servers. We make it so that you only have one number to call for all your technology needs.
Best of all…we know your business. With our extensive client list across multiple industries including finance, law, mining, accounting, restaurants and healthcare. We offer a one-hour rescue guarantee, no hidden fees and 100% satisfaction. Ready to get started? Call us at 416-363-9880 or visit us at interface.ca
Lloyd Ainey, Founder of Interface Technologies
Lloyd has been in the IT business for over 30 years. When he founded Interface, they specialized in manufacturing computer processors. Recognizing an opportunity to support other businesses’ IT needs, he evolved the company into a Telecom and Managed IT Service Provider. Today Lloyd works to continue Interface’s forward movement into the future of tech.