As IT services are a significant business cost, you need to ensure you’re achieving a worthwhile return on investment. As a result, alternative investment companies are taking a long, hard look at what they’re paying in IT costs and whether they’re getting value for money from their IT services provider.
Figuring out exactly what’s covered in your IT pricing can be complicated – but it shouldn’t be.
Often, businesses in the financial services sector are unaware they are paying for services they don’t want or need or are not receiving services they thought were included in their IT support package.
While the average cost of business IT support depends on the size and needs of your company, at a time when all businesses are trying to trim budgets, it’s crucial that you know exactly what you’re paying your IT partner or MSP for.
What kind of IT support do you currently have?
When it comes to technology, each company is different, basing their decisions on their unique circumstances, business model, and industry.
It’s a good idea to take stock of your current situation, assess how you’re currently managing your business IT, and highlight areas where you think you could improve. You may be:
Using your own internal IT support staff.
There are many advantages to employing your own IT staff, including familiarity with your business and better control over your infrastructure.
However, if your IT staff have limited expertise, or you need to scale quickly, you may suddenly need to hire external consultants at a premium.
Working with a Managed Service Provider (MSP).
Working with an MSP provides you with cost-effective access to a wide range of expertise, allowing your business to scale quickly, adapt to changing needs, and minimise downtime.
However, not all MSPs are created equal. You need to weigh security risks, communication challenges, and how much control you want to retain over your IT infrastructure.
Getting value for money from your IT partner.
Value for money from an IT partner implies more than just affordable services.
It encompasses reliability, efficiency, and strategic value. A reliable IT partner, like an experienced MSP, is crucial for time-critical financial services firms specialising in hedge funds, asset management, and private equity, where robust IT support is integral to smooth operations and keeping client information confidential.
The cost of your IT support is determined by factors such as the complexity of your infrastructure, the level of support you require, and the quality of the service you receive.
Must-have features for value for money IT services include:
- Comprehensive data protection policies
- Robust protection against Denial-of-Service (DoS) Attacks, Code Injection Attacks, Identity-Based Attacks, Supply Chain Attacks, phishing, spoofing, and other types of malicious activity and malware
- Robust backup, data and disaster recovery features
- Multi-Factor Authentication and enterprise-grade password security
- Conditional Access
- 24/7 access to support
Analysing IT support costs.
IT support costs in the financial services industry can vary significantly due to factors like the size of the business, the complexity of the systems, and the level of expertise required.
However, at Tribeca, we want our customers to have a good understanding of our IT pricing and be confident that they are receiving an effective and secure support service that meets their specific requirements.
Factors that affect your IT costs include:
- The number of users: while it’s true the more users you have, the higher your IT costs, it is also important to factor in economies of scale — meaning the more users you have, the more it’s likely they are encountering the same issues, which can then be resolved more efficiently.
- The number of offices you have: your IT costs will likely be greater if your users are spread across multiple offices. Our ‘follow-the-sun’ service desks are available 24/7 via our offices in London, New York and Hong Kong, with our experienced engineers targeted to answer your call within six seconds.
- The number of on-site interventions you need: on-site interventions provide an opportunity to deliver pro-active support and pinpoint teething issues which may grow bigger with time.
- Licencing requirements: you may choose to purchase software licences yourself (e.g., Microsoft 365) or you may prefer to leave that to us. As a Microsoft Partner, we can work with either arrangement.
- Cyber security requirements and upgrades: there may be additional IT costs associated with upgrades, additional licences, and set up fees.
Cost-effective IT support for alternative investment businesses.
Tribeca’s work in the alternative investment sector is a testament to our commitment to providing value for money. We’ve helped numerous financial services businesses optimise their IT infrastructure, resulting in significant cost savings and improved operational efficiency.
Our IT pricing is based on a predictable monthly fee with no usage caps or hidden costs.
Tribeca as a value for money IT partner.
We are a leading provider of IT services to the alternative investment sector, offering value for money through our comprehensive IT service offerings.
As an experienced specialist MSP, we offer a balanced cost while still providing exceptional quality, ensuring businesses get excellent IT support without breaking the bank.
Our services are designed to reduce costs and risk by improving efficiency and mitigating risks around IT.
We’re committed to openness and transparency when it comes to your IT pricing, providing a clear and concise breakdown of your monthly bill.
We have a dedicated pricing page on our website, so you can gain a better understanding of how we calculate your monthly bill.
However, it goes without saying that we would much rather have a conversation, so for a no-obligation chat about the cost of a monthly support package for your business, get in touch today.
