Why Financial Firms Need to Partner with Managed IT Services

By Robert Blake

 

Financial firms work with a diverse range of clients to help plan for retirement, manage wealth, and create long-term strategies. Unfortunately, all of this financial data is extremely valuable for cybercriminals. Taking additional steps to keep this information secure is critical to protecting your clients’ assets. However, most financial firms don't have the in-house capabilities to provide adequate data security, so using a managed IT service provider is a wise choice that offers many benefits.

 

Here are a few of the key reasons a managed IT service provider is a valuable partner for financial firms.

 

Access to Document Management Software

 

Keeping track of all the different financial documents for each client is necessary for financial advisors. One misplaced document can lead to many wasted hours and severely impact productivity. One way to avoid this problem is to use document management software. This information is available in one place and can be accessed from any device. An IT service provider can train your team on how to fully use this software, which will make the job of each financial advisor that much easier.

 

Improve Data Protection

 

Data security is a top priority in the financial industry. One data breach doesn't only damage the reputation of your firm but can also lead to significant fines due to a lack of compliance. A managed service provider will use various methods to boost data security, whether it's patch management, IT security training for employees, network monitoring, or creating a strong password policy. Of course, cyber threats are constantly changing, so the primary role of an IT service provider is to stay a step ahead of these criminals.

 

Around the Clock Tech Support

 

One problem with a computer or software program can make it impossible for a financial advisor to perform even the simplest tasks. Trying to figure out these issues often requires time and technical expertise. Reaching out to IT support is a great way to receive immediate help from trained technicians who can quickly figure out any technical problems. Using tech support is a great way to avoid downtime, and it will also give financial advisors peace of mind knowing they can reach out for assistance at any time.

 

Use of Automation Services

 

Automation can help streamline a wide range of tasks while allowing your employees to focus on other jobs. A managed service provider allows your firm to take advantage of automation in numerous ways, whether through network monitoring, data backups, account management, or security upgrades. These different services are designed to allow your financial firm to operate as efficiently as possible with the help of the latest technology.

 

Closing Thoughts

 

Technology plays a crucial role in allowing financial firms to serve their clients better. While technology offers immense benefits, it also creates numerous risks because cybercriminals find new ways to steal confidential data. Partnering with an IT service provider will give your financial firm much-needed IT security while also helping your company take advantage of the newest software programs in the industry. Tech support is also available at any time, which reduces downtime and helps to keep stress to a minimum. Ultimately, a managed IT support company partnership is an excellent option for financial firms.

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831

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n a Nation-State Cyberattack Hit Your Business?

Can a Nation-State Cyberattack Hit Your Business?

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Nation-state cybercrime isn’t just a problem for government agencies and the military anymore. Threat actors have been branching out to hit companies in industries that have never been in the crosshairs before in a variety of industries, serving notice that every business is at risk of trouble.  

An estimated 90% of nation-state cybercrime groups regularly attack organizations outside of the government or critical infrastructure sectors. Sometimes they’re looking for information or back doors into high-profile targets that those organizations might serve or do business with. Sometimes they just want to make money. But they’re always out to cause problems for businesses caught up in the tide. 

Nation-state threat actors use a common technique to hit their targets: phishing. Reducing your phishing risk is a great way to reduce your company’s risk from that source. That’s why it’s essential to your company’s success that you conduct regular phishing resistance training using a comprehensive solution like BullPhish ID. Arm your employees with knowledge to reduce the chance that they’ll be tricked by the bad guys.  

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831

4 Common Myths Involving Data Security

4 Common Myths Involving Data Security

 

Keeping your data secure is always a full-time job for businesses. Staying proactive against data breaches is essential to IT security due to the wide range of cyber threats. Unfortunately, a few simple mistakes can lead to devastating losses and ruin the reputation of your company. Learning tips on how to protect your data is key to avoiding common errors that can result in severe consequences.

 

Here are the four most common myths involving data security. 

 

1) Meeting Industry Regulations is Enough

Staying in compliance with the different regulations in your industry is a necessity for data security. A lack of compliance can often lead to substantial fines. Unfortunately, many companies feel that meeting these standards is enough for cybersecurity. However, many of these guidelines only meet the bare minimum for IT security, as it's critical for your business to put in additional safeguards to limit the chance of a data breach. Continuing to look at ways to secure your data is necessary due to the ever-changing nature of cyber attacks.

 

2) Cybercriminals Only Attack Large Businesses

One of the biggest myths about data security is that cybercriminals only focus on large corporations. However, a small to mid-size business is often more likely to be a target due to a lack of robust IT security measures compared to large companies. Investing in cybersecurity protection is a necessity in keeping your information safe. Working with managed IT services is especially beneficial for small businesses that don't have the budget to operate an in-house IT department.

 

3) IT Department is Solely Responsible for Security

Another common myth involving data security is that it's the sole responsibility of your IT team. While IT workers play a vital role in data security, they can't always protect your business against cybersecurity incidents. Educating and training your in-house employees on how to avoid making common data security mistakes is essential. An IT service provider can offer frequent training sessions for your employees to help them stay up to date on the latest cybersecurity tips.

 

4) Cybersecurity Only Involves External Threats

Sometimes a data breach can happen due to an insider threat. A disgruntled employee may leak confidential data to a competitor or even sell this data on the dark web. One way to limit the chance of this happening is to use a monitoring system to identify any suspicious actions. A managed service provider can use these tools to monitor your data around the clock to help prevent any potential issues before they result in a much bigger incident.

 

Closing Thoughts

Data security will remain a top concern in the workplace. Cybercriminals are always developing innovative ways to target confidential information, as partnering with an IT service provider is a great investment for small businesses. Educating your team about the dangers of data breaches is also a key aspect to staying proactive against these dangers. IT security measures will only continue to evolve, as learning how to avoid these common data security myths is essential for companies of any size.

 

By Robert Blake – Bit by Bit Computer Consulting

817.505.1257

721 N Fielder Road #B

Arlington TX 76012

 

www.Bitxbit.com

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831

How Managed IT Services Can Benefit Law Firms

How Managed IT Services Can Benefit Law Firms

By Robert Blake – Bit by Bit Texas

Keeping personal information safe is a top priority for law firms. One data breach can ruin your reputation and trust with clients. Choosing to work with an IT service provider is a great option that offers legal firms a wide range of benefits. These IT professionals are available around the clock while also giving you access to the latest tech to help you further streamline your operations.

Here are a few of the main reasons law firms can benefit from managed IT services. 

Improve IT Security

Finding time to manage IT security is nearly impossible for law firms. For example, keeping software up to date and monitoring network activity requires a lot of time and effort. A managed service provider can handle all of these tasks to ensure your law firm is always well-protected. An IT service provider can even educate your team about cybersecurity topics to limit the chance of data falling into the wrong hands.

Boost Productivity

Another advantage of outsourcing IT services is that it allows your legal team to focus on their core duties without extra distractions. You can always contact an IT service provider if you ever need assistance, which helps to limit downtime. A managed service provider will ensure everything is working at an optimal level, making everyone's job a lot easier and less stressful.

Meet Compliance Standards

Keeping confidential information secure is critical for law firms. A data breach doesn't only damage your relations with clients, but it can also lead to substantial fines. An IT service provider will ensure you comply with data security regulations in your industry at all times. You'll feel much better knowing that a managed IT service company is working with you to ensure you stay in compliance.

Decrease Operational Costs

Hiring additional employees to manage your IT needs is often costly. New employees’ hiring and training processes take time and effort. One way to avoid these challenges is to work with an IT service company specializing in the legal industry. Paying a fixed amount with a managed service provider makes it simpler to budget than the variable costs of working with in-house employees.

Scalability Options

The needs of a law firm are constantly evolving. However, a managed service provider gives your legal term additional scalability, such as making software upgrades, adding new computers, or giving you more storage space in the cloud. The ability to add or decrease different services gives your law firm much-needed scalability in today's ever-changing work environment.

Closing Thoughts

Technology plays a significant role in helping law firms meet the different needs of each client. Partnering with an IT service provider is an excellent investment that offers a wide variety of benefits. These advantages include improving IT security, boosting employee productivity, meeting compliance regulations, and decreasing costs. Managed IT services also provide you with additional scalability options. Working in the legal industry is highly competitive, as a managed IT service provider is an excellent choice for law firms.

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831

Why syncing data is not enough... You still need backup!

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831

Can You Afford to Pay a Ransom?

 

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Ransomware is the star of the show in today’s cybersecurity landscape. Messy, ever-evolving and seemingly everywhere, ransomware attack numbers just keep climbing, and so is the price of failure when it comes to repelling a ransomware attack.  

In the National Cybersecurity Centre (NCSC)’s 2021 Annual Review, analysts noted that they handled the same number of ransomware incidents in just the first four months of 2021 as it did in the entire year of 2020 – and the number of threats that it handled in 2020 was more than three times greater than in 2019.   

Those attacks included higher ransom demands and incident recovery costs than ever before. An estimated 46% of companies that fell prey to ransomware last year faced ransom demands of $2 – 10 million, and that cost is expected to rise by 20% per year over the next 10 years. 

You can’t afford to become the victim of a ransomware attack. One way to prevent that is through increased security awareness training, as recommended by IBM researchers. An automated security awareness training solution like BullPhish ID makes it easy for you to take that advice, lowering your risk of having an expensive and damaging cybersecurity incident. 

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com/texas 877.860.5831