5 tips for picking the perfect IT partner in the finance industry

When partnering your company with another business, it’s so important to ensure every element of the partnership is right. There is a lot of research to be undertaken to ensure the two brands will align together nicely.

Choosing to join forces with another company (whether it be for specific services, or if you’re co-branding on a marketing campaign) is a big decision in itself. However, when you’re choosing the IT support partner who is going to guide you through the coming years of industry change and support your company with FCA and GDPR compliance, the stakes are even higher.

Every business deserves to have an IT support partner who is the perfect fit for their specific needs. Being experts in our field,  we see too many companies who have been steered completely in the wrong direction. In the finance industry, in particular, there are certain regulations from the FCA  that must be understood by everyone who works in IT support. Ask yourself: does your current IT partner offer this kind of specialism?

Choosing the perfect IT partner when working really doesn’t need to be complicated. Here are some of the essential areas to consider when choosing your new IT partner.

GDPR

You’ll more than likely be aware that your company can be fined for breaching GDPR, but, did you know that the fine could be up to 4% of your annual global turnover?

Many businesses in the finance industry were unsure how to approach GDPR when it first launched. The lack of awareness throughout the UK and specific guidance from the ICO meant that it was difficult to find two organisations who had the same interpretation of it.

Now, almost two years on, there are specialist IT support companies like Omicron who can help you to remain GDPR compliant and keep your business on track for success. It is crucial to choose technology solutions that have a strong understanding of GDPR and can impact your organisation positively.

FCA

Any business offering financial services will be well aware of the importance of FCA compliance.  The FCA has the authority to issue fines against firms who abuse the system and they can even withdraw a firm’s authorisation if a case is severe enough. However, FCA compliance doesn’t need to be something to fear, especially if you choose the right company for the job.

When searching for an IT partner, you’ll want to look out for FCA specialisation as this will help you to get the right match. At Omicron, we specialise in IT support for the finance sector. We can ensure that your business is FCA compliant and implement any kind of disaster recovery plan into your organisation.

Opportunities To Grow

As someone senior in your organisation, opportunities for growth will undoubtedly never be far away from your mind. If your current IT partner is only providing support, rather than helping your business thrive as well, you may want to re-evaluate your partnership.

Many organisations are unaware that growth support is an option with IT companies and are missing out on some real opportunities. With the right IT support partner in the financial industry, you can become more efficient and productive as a business and be ready to grow and take on new ventures.

Disaster Recovery

Whilst no business owner wants to think about their organisation experiencing a disaster, it’s always best to be prepared. ‘Disasters’ are a common occurrence in the industry that we operate in and there’s not much we haven’t seen.

Data breaches are common and the average cost to repair an issue can be as high as £4,180 (or more) depending on the business. This is why it is essential to choose an IT support company that is experienced in disaster recovery; should anything severe occur, they can get you back on track in no time at all.

Our number one priority is always preventing your company’s data loss and limiting any breach as much as we can. Our expert software is crucial in this event and ensures that your business gets back on track promptly.

Experience

If you want the best for your organisation and are trying to choose an IT support partner you must choose one with proven experience.

With budgets in mind, it can be easy to veer towards the cheapest option, especially with IT support being a growing industry. However, in our experience, this is not the best route to take. Take a moment to research your shortlisted IT companies and read real-life reviews from other organisations. This way, you can be confident you’re selecting a company with proven results.

At Omicron, our specialist experience in the financial sector speaks for itself and our clients are always pleased with the results we provide.

Get In Touch

If you are currently looking for a new IT support company, then make Omicron your first stop. We are experts in our industry and have vast experience in turning both larger and smaller businesses into FCA and GDPR compliant organisations.

Get in touch with one of our team members today and we’ll show you just how much of a difference we can make to your business operations.

Get in touch