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Top IT Priorities

It is safe to say that the top IT priorities facing C-suite and IT leaders in 2022 come straight from the headlines and include topics like cybersecurity, privacy, emerging technologies, and more.

The pace of change is accelerating at a heightened pace, and this dynamism isn’t expected to slow down any time soon. So, to get the most value from IT in the year ahead, here is a list of key initiatives that should top your agenda for the year.

Top IT Priorities

1. Cybersecurity

If recent events in Ukraine are any indication, 2022 will reveal intensifying cyber threats. Already, as many as 61% of SMBs reported at least one cyberattack during the previous year. As a result, continuous improvement and monitoring of cybersecurity posture should be at the top of business leaders’ to-do lists. From state-sanctioned attacks to increased supply-chain attacks and everything in between, security experts are anticipating that 2022 will be an even more challenging year.

Some of the key areas to consider strengthening are MFA, endpoint security and user awareness, zero trust policies, and better evaluation of partners’ and vendors’ security policies and practices.

2. Privacy and Compliance

With various privacy laws, like CCPA/CPRA, GDPR, and NY PPPL getting updated or coming on board, 2022 will be a big year for data privacy. Experts anticipate that by the end of 2023, 75% of the world’s population will be covered by a complex network of data privacy regulations and increased enforcement of those laws. As a result, executives will need to allocate more resources towards security and compliance to mitigate risk and avoid costly data breaches and fines and penalties for non-compliance.

3. Automation with AI, ML, and Low Code/No-code

Just as more resources will need to be allocated to respond to cybersecurity and compliance challenges, leveraging opportunities offered from AI, ML, and low code/no-code solutions will be critical in 2022. These solutions have been considered emerging technologies but are now becoming mainstays for market relevance for many verticals, including financial services and life sciences. These technologies enable streamlining workflows and processes and recoup time spent on routine tasks for investment into revenue-boosting tasks. Coupled with personnel labor shortages, AI, ML, and low code/no-code will become integral to aligning IT strategy with business strategy.

4. Hybrid Workplace in 2022 and Beyond

There has been plenty of recent debate about in-person versus hybrid workplaces. The reality for many businesses is that some form of hybrid work will continue into the unforeseeable future or will remain as a permanent fixture. CTOs, CISOs, and executives facing a hybrid model should continue to focus on applying best practices in their implementation. It is undeniable that the hybrid model does place additional burdens on IT resources, especially regarding cybersecurity and support.

5. Hiring and Staffing Challenges

We are all aware of the current US and worldwide labor shortages, and IT is not immune to the situation. While the need to invest additional resources in IT is growing, many organizations face the challenge of not being able to fill critical roles within their IT units. Experts predict that this talent gap will persist beyond 2022, so savvy executives and IT professionals will look to outsourcing by employing a managed service partner to extend their internal IT capacity.

6. Emerging Technologies and Trends

And if increased cyber threats, compliance, and labor shortages are not enough to juggle, leaders also need to keep up with what is on the horizon with 5G, quantum computing, the metaverse, and other emerging technologies.

Let’s take a closer look at the possibilities. First, 5G is poised to transform the banking and the financial sectors from improvements like increasing the speed of payments to creating environments for superior data collection and more efficient backend processes. Additionally, quantum computing will bring a whole host of challenges and opportunities, including the need to protect data from quantum-empowered cyber criminals further. And finally, while enterprise use cases for the metaverse are not likely to develop in the next year, life science executives (among other sectors) should very much “watch this space” as this technology develops.

Some of these technologies may seem more appropriate for a sci-fi novel, but shrewd leaders will contemplate possible use cases for potential competitive advantages.

IT Planning and Strategy is Key

 

With careful planning and strategizing, CXO and IT leaders will be ready to take on these and other critical initiatives this year. With threats like cybercrime and data breaches on the rise, it is more important than ever to allocate resources to cybersecurity and respond to shifting compliance standards. Automation with AI and ML can help improve workflows and increase productivity. Outsourcing some (or all in some cases) of your IT functions can help alleviate skill gaps and other challenges from labor shortages. And finally, executives must stay ahead of emerging technologies like 5G and quantum computing to ensure their businesses remain competitive. By preparing for these challenges, IT leaders can ensure their organizations achieve success in 2022 and beyond.

Reach out to learn more about how Coretelligent can help your enterprise solve these and other initiatives.


About Chris

As Chief Technology Officer at Coretelligent, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

 

Business technology trends

Think About It
It is no secret that business needs to stay on top of the ever-changing technology landscape. Companies that do not keep up will not succeed in the digital age. But, depending on how fast your business adapts, you could be missing out—or left behind altogether.

As a new year begins, we start to see lists touting the latest information technology trends to watch. However, it can be a challenge for non-technological business leaders and busy IT managers to keep up, digest, and make thoughtful decisions about the technologies in which to invest.

In this post, I share nine tech trends that we consider the most impactful for our clients and similar companies in the coming year.

For a deeper dive on how these trends will impact your business, download the free white paper → The Top 9 Business Technology Trends to Prepare for in 2022.

The Top 9 Business Technology Trends to Prepare for in 2022.What Are the Biggest Technology Trends for 2022?

  1. Data Fabric

Gartner defines data fabric as a “concept that serves as an integrated layer (fabric) of data and connecting processes.”

  1. Distributed Enterprises

As we have seen the rise of remote and hybrid work, we also see an increase in the distributed enterprise model. The distributed model entails co-locating various teams that make up a company.

  1. Cybersecurity Mesh

Escalating cyber threats and decentralizing the workplace requires an innovative approach to cybersecurity. Enter the concept of cybersecurity mesh which broadens defense beyond a central physical plant.

  1. Hyperautomation

The growing utilization of artificial intelligence (AI) in business processes has been a powerful technology disrupter. Hyperautomation is one of the leading outcomes of this development.

  1. Privacy-enhancing computation

Privacy-enhancing computation (PEC) is part of a collection of methods helping to solve the challenge of achieving data privacy.

  1. Low-Code/No-Code

Low-code and no-code techniques allow non-developers to piece together without specialized knowledge.

  1. Predictive Analysis

Predictive analysis is a data-driven assessment that is used to forecast the likelihood of a given future outcome using historical data and machine learning.

  1. Networking, Connectivity, and Security for Remote and Distributed Work

Whether part of a formalized hybrid or distributed workplace model or just a liberal remote work policy, dealing with protecting data and systems is the new normal.

  1. Cybersecurity

Finally, cybersecurity deserves to be singled out as it will remain a constant focus for IT in the coming year. Discover which types of cyber attacks are expected to increase in 2022 in the whitepaper.

Technology Trends and Strategy

While these are not the only tech trends of note, they are the trends that we expect to have the most impact on SMBs in specific sectors. We, at Coretelligent, will be tracking these trends and collaborating with our clients as they navigate the challenges and opportunities they bring.

The business landscape is constantly changing, and it’s crucial to adjust your business strategy accordingly. As a leading managed service provider with industry-specific experience and a full suite of IT solutions (including IT strategy and planning, cloud services, and more), Coretelligent is exceptionally well-positioned to help executives and business owners decode these trends. We can help guide your business in determining what technology enhancements are appropriate to incorporate into your technology strategy.

Reach out to learn more about our solutions and continue the conversation about technology and strategy.


Chris Messer, Chief Technology Officer at Coretelligent, HeadshotAbout Chris

As Chief Technology Officer at Coretelligent, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

Why You Should Conduct a Year-end Business Review

Why You Should Conduct a Year-end Business ReviewAs a C-suite leader, you are almost always focused on the present and the future. Your days consist of putting out fires and making sure that you meet this quarter’s revenue goals. Unfortunately, the nature of business growth does not leave much bandwidth for thinking about the past. That said, it is difficult to know where you are going without understanding where you have already been. To that end, completing a year-end business review is an ideal way to evaluate your firm’s journey and get a jump-start on the new year.

What is a Year-end Business Review?

No matter the industry–financial services, professional services firms, a law firm, life sciences, and everything in between, a year-end review provides executives with the opportunity to get a bird’s-eye view of your company. Think of the year-end review as the Cliff’s Notes version of your company’s year. An effective review includes key takeaways, lessons learned, what worked, and what needs improvement. It will allow you and your staff to hit the ground running in the new year.

Why is it Necessary?

Just as self-reflection is essential to personal growth, the process offers just as much value to the enterprise.

The annual business review offers an opportunity to evaluate successful goal completion, realign with the organization’s mission and vision, examine key initiatives, recognize employee development, acknowledge gaps, provide valuable data for setting future KPIs, and more.

That’s not to mention the benefit of sharing a year-end review executive summary with clients, employees, investors, and other stakeholders to highlight your enterprise’s success, flexibility, and productivity.

What Should a Year-end Review Encompass?

Just as with other business activities, you get back what you put into the year-end review. Don’t view it as an empty exercise but an opportunity to gain valuable insight into your firm. While results may look different from firm to firm, there are some key elements to a year-end review.

ear-end Business Review

  1. High-level Company Overview

The review process should start with a refresher of the company’s mission, vision, and values. This undertaking is an opportunity to assess business functions and realign with these foundational pillars.

  1. Business Goals

Include any formalized business goals from the prior year. These may be objectives related to growth, market reach, financials, technology, corporate structure, and corporate culture.

  1. Key Performance Indicators and Results

Determining success is only possible by identifying the metrics used to evaluate that success. Obviously, financial statements help assess revenue goals, but what other KPIs did you set at the beginning of the year? Now is the time to compile those results for a holistic review.

  1. A Reckoning of Goal Completion

Here is where the real work happens. A careful review of metrics should tell you whether you completed each goal or not. There is also plenty of insight to be gleaned from the objectives you did not reach. This assessment is where you can begin the work of developing your strategic plan for the upcoming year by identifying gaps and deficiencies, goals out of alignment, technology needs, and more. A goal not met is a learning opportunity. The insights available for executives in this evaluation process are invaluable to your company.

  1. Planning for Next Year

A final element to the year-end review is to use the data from the process to set goals and develop a strategic plan for your organization for the upcoming year. View this exercise as bookends to a year in the life of your company. Those bookends allow you to digest and process all the knowledge and experience in between for the next chapter in your company’s story.

Strategic Technology Partner

Technology is a crucial component in setting and meeting business goals. Therefore, the experts at Coretelligent recommend performing a technology assessment as part of your strategic planning.

Coretelligent can offer support and expertise while performing your assessments. We can provide advice on technology offerings and apply strategic IT solutions to protect your infrastructure. In addition, we can help you align technology and business strategy to reduce risk and

9 Obstacles to Scalable Technology for Growing SMBs

Think About ItScalable technology is an area of regular concern for companies throughout the growth cycle, but it is a make-or-break-it concern for early- to mid-stage companies. At this point, the introduction of IT compliance requirements for privacy, data storage, cybersecurity, reporting, and more create a technology imperative that cannot be ignored. Due diligence requests from investors to determine a company’s viability combined with government-mandated compliance requires a serious assessment of an organization’s technology. And that means proving that your technology infrastructure can meet its current business needs and effectively scale as your company grows.


You can read more about the intersection of compliance and technology here (and specifically for  financial services here and life sciences here).


9 Obstacles to Scalable Technology for Growing SMBsScalable Technology is Mission Critical for Growth

In considering scalable technology solutions, it is essential to remember that IT functions do not exist in a vacuum but touch every aspect of business operations. In addition, the roots of technology extend further into operations as your company grows. IT impacts the success or failure of every function from quickly and seamlessly onboarding an ever-expanding pool of employees to implementing software to manage clinical trials and for your biotech startup or developing a technology stack that guarantees uptime for your investment firm. Leveraging technology’s power will become critical as your company progresses from startup to Series A and B.

Technology scalability can be defined as the range of a system’s ability to expand as demand changes. Anticipating how quickly storage loads can be increased or how databases will respond as new users are added are examples of gauging scale. Scalability is an almost constant operational concern but matters most during periods of rapid growth. The twin points of capacity and flexibility can be used to measure the scalability of any technology system.

Scaling technology should be viewed as an investment that reduces growth busting complexity and silos, includes flexible software and infrastructure, aligns with industry best practices, increases efficiency, and recognized as a revenue enabler and driver.

Taking a deeper dive, just what are some key areas of consideration for scaling technology for early-stage to mid-stage companies?

9 Factors for Delivering Scalable Technology

  1. Cloud Infrastructure – Cloud computing offers businesses the opportunity to realize cost savings, increase flexibility, and reduce complexity. However, things can get complicated as a business needs a scalable system. Out-of-the-box cloud services may no longer provide the required sophistication, and a customized mix of public, private, or hybrid cloud solutions is necessary. Increased spending will be needed to address additional processing, storage, and security requirements.
  2. Emerging Technologies – Be aware of developing technologies that could act as disruptors to your industry. For example, machine learning and AI have transformed various industries—some companies were ready to adapt, and some were not. Whether they deliver opportunities or challenges, emerging technologies can be significant game-changers that require a series of proactive steps or investments. For example, just think how different Blockbuster’s future could have been if they had only taken advantage of the industry-disrupting online DVD rental market sooner than they did.
  3. Avoid Data Silos – To the digital enterprise, data silos are anathema to growth, yet they are prone to develop as an organization scales. Therefore, as a company expands, it is essential to have a data management and governance program to address these silos before they become entrenched.
  4. Growing Employee Base – Your workforce is only as good as the technology it utilizes. From employee onboarding to performance management, your technology needs to seamlessly accommodate a growing workforce.
  5. Software Integrations – Be mindful of painting yourself into a corner with software applications and integrations as your organization scales. The scalable approach is to deploy a line of business applications with native support for integrations. These scalable business applications reduce the likelihood of data silos and the creation of time-consuming processes to counteract non-interoperability.
  6. Managing Collaboration – Collaboration is critical at any stage, but effective collaboration can suffer as an organization grows. A scalable collaboration platform should enable file-sharing and facilitate workflows seamlessly across a growing user base while protecting against security breaches.
  7. Building Processes – Document processes as your business scales to ensure a framework for producing repeatable and predictable results. Scalable processes can be executed quickly and efficiently as increased volume, more users, and greater complexity demands.
  8. Growing Necessity for Support – No matter your sector, planning for IT support is integral for your growing enterprise. As you add capacity, support can quickly become unwieldy or unresponsive and be a real stopgap to growth. As the number of users expands, the demands on an internal support team magnify. Planning for this challenge by outsourcing support to an IT partner will keep your firm on a growth trajectory.
  9. Increased Need for Cybersecurity and Compliance – Both cybersecurity and compliance increase in complexity as your company grows, especially in heavily regulated industries like financial service and life sciences. As a company progresses from startup to the funding stages, it needs to be prepared to take on the increased cybersecurity and IT compliance requirements that come with growth.

Leave Technology to the Experts

One solution for managing these scalability factors and optimizing growth is to focus on core competencies and leave the technology to the experts. A recent benchmarking study from Fidelity demonstrated that financial services advisors who outsourced reported higher growth. By outsourcing some or all your technology functions, you can focus on expanding your business and not your IT unit. Building in-house IT requires an enormous investment in both people and technology. Instead, choose the best scalable solution by partnering with Coretelligent to leverage our years of experience, industry-specific knowledge, and strategic technology advisors. Our scalable technology solutions will allow your internal teams to increase their focus on revenue-generating activities and achieving business goals.


Chris Messer, Chief Technology Officer at Coretelligent, HeadshotAbout Chris

As Chief Technology Officer, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

Dallas Managed IT Services

Coretelligent, a leading IT services provider for the financial industry, announces the expansion of our field offices to provide Dallas Managed IT Services. This extension allows Coretelligent to accommodate the accelerated growth of financial firms in the Dallas–Fort Worth metro area and offer a wide variety of high-quality solutions, including virtual CIO, Help Desk, cybersecurity & compliance, disaster recovery solutions, cloud solutions, our White-glove approach to business, and more to clients in the region.

Dallas Managed IT Services

Reliable, Secure IT Infrastructure

Reliable and secure IT infrastructure is a necessity for financial firms of all sizes–large, small, and mid-market enterprises– in today’s landscape. Dependable infrastructure can provide a competitive advantage by delivering reliable uptime and offering the protection needed to manage the threat from cyber-crime. As an experienced solutions provider, Coretelligent can keep your company safe from cyber threats with our advanced network monitoring & management, security firewall protection, and other security measures. With a team of experienced, knowledgeable, and dedicated financial and technology experts, Coretelligent can assure that you will have the support you need to support your business processes and reach your goals.

Managed IT Services

Having a solid IT infrastructure is not just an advantage in the financial industry—it is a requirement–and our service levels can help give your firm that edge. Coretelligent understands the specialized technology needs for hedge funds and alternative investments from SEC-regulated archiving and backups to specialized trading applications. In addition, we provide IT strategic expertise, managed and co-managed support, proactive maintenance, cloud migration, and start-up and relocation support. From cost-effective fixed price-per-seat agreements to full-time placements, we can suit any sized client’s budget and operational costs with a range of pricing options.

About Coretelligent

Coretelligent are industry leaders providing comprehensive solutions for financial firms of managed IT support services, cybersecurity, and cloud-based solutions. Our team of world-class professionals provides top-tier organizations with a wide range of services needed to thrive in today’s digital economy. We’re proud to be one of the most awarded IT service providers in the nation.

With a proven track record of providing complete business IT solutions 24/7/365 days a year, our innovative proprietary technology solutions and a full suite of security services ensure exceptional business performance, data protection, and security for our clients’ most sensitive information assets across a variety of industries.

Founded in 2006, the company has offices in Massachusetts, Maine, New York, Connecticut, Georgia, and California, with expanded support locations in Dallas, Los Angeles, Philadelphia, Tampa, Washington, DC, and West Palm Beach.

Learn more about our about how to create a partnership for technology success with Coretelligent in the larger Dallas–Fort Worth, TX service area.

Virtual CIO and Strategic Planning

Virtual CIO and Strategic Planning

Virtual CIO (vCIO) sessions can help your company by providing the IT leadership and guidance needed to make critical IT decisions. Discussions around IT strategy should include an assessment of your current IT position, technology roadmap for the future, and how best to navigate new challenges and opportunities. A Virtual Chief Information Officer strategy session should examine existing technology assets, how you use those tools and services, any gaps that exist, and how a vCIO can help you achieve your organization’s goals going forward.

Like all strategies, your IT strategy is dynamic. At Coretelligent, we recommend re-evaluating your technology strategy at least once a year to ensure that your IT implementation is secure, compliant, positioned for growth, and aligned with your business goals for growth.

Key Areas for Strategizing with a Virtual CIO

Cyber Security

Coretelligent keeps up to date on the latest cybersecurity threats and provides recommendations for addressing them. In today’s IT environment, endpoint security is even more critical as many companies utilize a hybrid workplace model. Your IT partner should be monitoring your infrastructure for cybersecurity incidents and running regular vulnerability assessments. Your vCIO can make recommendations on improving endpoint security with tools like endpoint detection and response (EDR) platforms during your strategy meetings. Additionally, request that your IT partner provides periodic phishing testing to assess the effectiveness of end-user security training.

Business Continuity and Backup and Disaster Recovery

Coretelligent’s vCIO sessions provide an opportunity for executives to discuss backup and disaster recovery plans. These sessions are the time to cover system optimization and measures against data loss, disaster recovery planning, security concerns, recommendations on what we think your company needs to optimize its infrastructure or systems. For example, when was the last time you reviewed your disaster recovery plan? Have you tested it? Your IT partner should also help you review and update your business continuity plan should a disaster or breach occur.

Cloud Strategy

Cloud computing has revolutionized the way we do business. For a long time, companies were locked into what was available on their own networks and devices. But with cloud storage, most enterprises are free from that restriction and can benefit from leveraging the massive data sources offered through public and private cloud services. However, with so many different options out there, it is essential to evaluate which strategy is ideal for your organization based on your needs and budget constraints. Coretelligent takes an agnostic approach to cloud solutions, ensuring that each solution focuses on the client’s strategic planning and business operations.

Compliance

Compliance can be tricky to navigate, but a vCIO can help guide your compliance strategy. Many IT compliance standards are related to data security, specifically how your systems and data are protected. Proper access management should be the foundation of cybersecurity and compliance; this includes reviewing governance policies and procedures for your data. In addition, the virtual CIO can provide insight on topics like how to utilize user role management to ensure that users are only able to access data they are authorized to access and use.

Growth and Scalability

VCIO sessions can play a critical role in assisting small- and mid-sized businesses with understanding what IT tools are needed to meet current requirements and how those tools can evolve as a company grows or when significant changes occur. Virtual CIO sessions can help IT leaders and other decision-makers better prepare for future business growth and changes by identifying issues early on. Virtual CIO services can also highlight what structure is needed to bring new ideas to life and which tools are a must to execute a strategy efficiently. In addition, sessions can assist with identifying current challenges with existing technology and business processes, like compliance and cybersecurity. Finally, virtual CIO reviews can identify any gaps in technology that may occur while accommodating business objectives.

Comprehensive IT Services

Coretelligent offers Virtual CIO services needed to make critical IT and business decisions. These services are an opportunity to discuss the state of your IT infrastructure, including what applications and tools are necessary and how you can proactively support your business strategy by implementing solutions to achieve long-term success.

At Coretelligent, strategy is our specialty. We have years of experience developing IT roadmaps for firms in regulated industries such as finance and life sciences. So, whether you need security upgrades, cloud services, or IT planning and strategy support, we are here to help.