First and foremost, Happy New Year everyone!
2014 has officially begun, and as with every New Year, it is important to reflect on the previous year and set goals for the future. Many of the resolutions that we made last year are still prevalent this year because they are foundational for a hedge fund’s success. This year we are offering a few more critical recommendations to ensure that your company and IT operations run efficiently and effectively.
Research continues to show that hedge funds are migrating to the cloud. Our 2013 Cloud Usage Survey shows adoption has risen to nearly nine out of ten firms across the U.S. We believe the cloud will become the premier solution for businesses in 2014 as firms gravitate towards the inherent benefits the cloud has to offer, including simplicity, flexibility and cost predictability. Make sure to perform comprehensive evaluations before selecting a cloud service provider to ensure that it fits all of your technology, cost, security and application needs.
Security is King
Unfortunately cyber-attacks and security threats continue to be a prevalent issue. It is imperative to keep your employees trained on proper etiquette and best practices to guarantee that your data is safe and to reduce the possibility of internal breaches and external exposures. To keep up-to-date, email us to pre-register for our next webinar on Incident Response coming up later this month.
Always Be Prepared
As we saw with Hurricane Sandy in 2012 and a plethora of weather-related storms in 2013, it’s essential to have a comprehensive business continuity plan and disaster recovery solution in place. Investors now expect firms to have a formal BCP that is continually reviewed and refreshed. It is imperative for employees and third parties to know how to react in crisis situations, and a BCP helps make that certain. It can be easy to overlook these details in favor of pressing investment priorities, but it is crucial to have a plan in place and to communicate it effectively. Implement training sessions and testing for your firm this year, you won’t regret it!
Click here for a best practices guide to BCP.
Mobile Device Management: Plan to BYOD
Although many firms still rely on Blackberry technology to support their mobile operations, it will likely not be for long. The company continues to suffer losses and is opting to focus more on software than hardware (device) development moving forward. We expect a rise in Apple and other smartphone use this year as firms migrate away from BlackBerry. Additionally, Bring Your Own Device (BYOD) continues to be a favorable solution for companies. Developing and implementing a BYOD policy can reduce company costs and increase employee satisfaction. BYOD is here to stay, if you haven’t already, get on board!
Photo Credit: Istock & Christmas Stock Images