While the financial industry continues to recover from the disruptive effects of the economy, many credit unions are reevaluating business priorities and resource allocation. As a whole, the financial sector is the largest consumer of information technology services. The competition among banks and credit unions is fierce, and they remain under intense pressure to reduce costs, improve response times, and streamline operations.
Since modern IT systems require substantial and ongoing investments in upgrades, systems integration and conversions, many credit unions have elected to outsource their IT services. Focusing on economies of scale, IT systems structured to expand and contract based on the needs of the business can help a credit union develop new products and services through controlled, predictable IT related costs.
IT Outsourcing Services
To help improve a credit union’s IT services, Detroit providers will conduct a thorough evaluation of the current IT environment along with its processes and deficiencies. Professional systems planners will work with credit union administrators to design an IT strategy that will address system deficits while maximizing efficiency and optimizing functionality. Every package is tailored to meet the unique needs of each credit union and may include:
- Managed Applications Services: The development and integration of different processes improves data reliability and workflow metrics. Applications are designed and implemented to align IT performance with business objectives.
- Network Installation and Maintenance: Consultants design and implement cabling infrastructure as well as servers, routers, workstations, and other peripheral components. Maintenance services identify and eliminate network inefficiencies, bottlenecks, and redundancies.
- Full System Support: A regular service schedule will keep hardware components operating at peak efficiency. Notification and installation of periodic software upgrades ensures that applications remain up to date and provide every available feature.
Credit Union IT Outsourcing Benefits
As credit unions acknowledge the necessity of continuing to investment in data systems infrastructure and qualified personnel, they begin to recognize the unique advantages outsourcing presents. IT service and support provides unsurpassed levels of applications, hardware, and platform specific expertise that alleviates the need for expensive in house IT departments. Fully featured hosting services can reduce or eliminate expensive investments in hardware, physical facilities, and infrastructure that are all subject to rapid obsolescence.
As the IT outsourcing industry has evolved, an increasing number of data related services can be completed offsite. This includes remote monitoring, diagnostics, and many repairs. These functions are often completed during non-working hours which allows the credit union to maintain an uninterrupted flow of business.