CFOs Need To Start Planning For The Post-COVID-19 World Now

CFOs Need To Start Planning For The Post-COVID-19 World Now

No matter when the COVID-19 pandemic may end, CFOs need to start planning for it now – do you know how you’ll devote funds for IT support in a post-pandemic business world?

After more than a month of the COVID-19 pandemic, it’s likely that your business has gotten into a rhythm with remote work. However, while we don’t know when the pandemic will end, it will certainly conclude at some point – do you know how your business will proceed then?

You don’t necessarily have to return to the way it was before – in fact, according to 317 CFOs recently surveyed by Gartner, the business world may not change back when the pandemic is over:

• 74% of CFOs say they expect to move previously on-site employees remote post-COVID-19
• 81% of CFOs plan to exceed their contractual obligations to hourly workers and to fund that they are using remote work to offer flexible schedules and maintain operations.
• 90% of CFOs said their accounting close operations will be able to run effectively without disruptions off-site.
• 20% of CFOs said they are cutting their on-premise technology spending with 12% planning the same move.
• 13% of CFOs have already cut real estate expenses with another 9% planning cuts in the months to come.

Do You Have The Right IT Support For A Remote Work Model?

Here’s the reality: how productive your remote staff is depends entirely upon how effective your IT support is. Your IT services support a number of key processes in the remote setting:

• Access to files, applications, and systems
• The ability to collaborate with colleagues, partners, and customers via video conferencing solutions
• Confident security against the increased rate of pandemic-related phishing attacks
• Maintenance of communications with cloud-based phone systems that keep staff connected

The real question is: are you sure internal IT support is the best way to manage a remote environment?

Internal IT Support Is Expensive

• Employment & Management: An in-house IT team can cost a lot to manage and maintain. To be effective, IT service and support requires up-to-date skills and expertise. There are additional expenses on top of the salary to consider. For example, holidays, and the coverage while your network administrator is away. When you consider all of this, just one network administrator can cost you even more than a standard salary.
• Training & Certifications: With cybercrime and other threats to your business, you must ensure your IT staff is trained on the latest cybersecurity tactics. In addition, software, hardware, and cloud solutions are constantly evolving. To provide the most cost-effective IT solutions, your IT personnel should attend vendor training and stay up on certifications that expire. These training and certification expenses can really mount up and may involve travel expenses as well.

Outsourced IT Services Are Designed For Remote IT Support

• Lower Your IT Costs: Reducing IT costs is one of the most appealing reasons businesses use outsourced IT services. Businesses that choose to outsource can convert unplanned IT expenses to fixed, predictable ones. This frees up capital for other aspects of their business.  Plus, it saves on hiring (and firing) in-house staff, paying benefits such as sick leave, health insurance, and Social Security. In addition, your outsourced IT services will be available 24/7, where in-house staff may take off due to personal issues or illness.
• Maintain Security: Cybersecurity is one of the most important aspects of technology. While technology evolves and data expands, the number of ways your IT network can be compromised increases. For example, cloud services are widely used today. However, to ensure the security of an offsite server, it must be continuously monitored and assessed.  Your outsourced IT services company should deliver security services, advise you on the credentials of vendors, and conduct ongoing risk assessments to identify network vulnerabilities.
• Access To Remote Solutions: Many businesses find it difficult to keep up with the latest advances in technology. Outsourcing IT services provides easy access to the latest technology so you can be more competitive in this technology-driven world. In addition, with outsourced IT services, these solutions are less expensive than you if you purchased them yourself. Most IT companies have partnerships with vendors and can provide new technologies at a reduced cost.

The bottom line is that outsourced IT services give you access to a team of experienced and knowledgeable IT experts— can you get the same from an in-house IT staff?

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