A CFO’s Perspective: Managing Information Technology in a Post-Coronavirus World

Managing Information Technology in a Post-Coronavirus World

CFO’s Have Been Planning for a Range of Scenarios, But Have You Considered How You’ll Manage Technology As We Return to a Sense of Normalcy?

The coronavirus pandemic impacted the way we live, work, and connect – and chances are, it’ll continue to impact our lives going forward for the unforeseeable future. CFOs have likely spent quite a bit of time planning for a range of scenarios – guiding business decisions in terms of finances during and after the pandemic subsides. Naturally, the CFO plays an integral role, especially during an economic downturn wherein most businesses are facing difficulties resulting from:

• Disruptions in supply chains
• Less revenue coming in
• Slowdowns in customer acquisition
• And more

Many organizations were able to continue operations – at least to some degree – working remotely. This, in turn, allowed them to minimize operational expenses through:

• Greater productivity due to staff members focusing on their work rather than commuting and socializing with other staff members in the office.
• Fewer office expenses in terms of heating, cooling, supplies, and other costs associated with running a building.
• Fewer technology costs as employees moved to cloud-based systems wherein you pay as you go for what you use.

For some, remote work will be the norm going forward. For others, going back to the office while maintaining some form of social distancing will be the norm going forward. But for the majority, it’ll be some combination of the two.

 The Importance of Technology Management

CFOs will be handling a lot of priorities during this difficult time as we return to some sense of normalcy. This may include:

• Forecasting collections of latest sales
• Establishing reporting metrics for tracking liquidity
• Reassessing company investments in terms of inventory, credit, etc.
• Focusing on financial planning and analysis
• And much, much more

There’s no doubt about it: It’s a busy time for CFOs, but the importance of technology management can’t be overlooked. So what does your technology budget look like now? And how can you alter it to reduce expenses?

Outsourcing Your Technology Management Makes Sense

For many organizations, outsourcing simply makes sense when it comes to reducing expenses. This is particularly true when it comes to the management of information technology. Why? Because hiring an internal person or department to manage information technology comes with a lot of costs:

• Salaries
• Benefits
• Workstations
• Vacation time
• Overtime
• Sick days
• Training/certifications

An MSP, on the other hand, is available at a flat-rate monthly fee – giving you the ability to access all of the services and support you need, as well as:

• Greater availability for support that’s available when you need it most – after hours, on the weekends, and essentially, whenever you need assistance.
• More peace of mind knowing they’re trained and certified in the latest technologies at their own expense.
• Lower, more predictable costs that can be budgeted for each month with no surprises or unexpected fees.
• Less downtime as they have proactive measures in place to detect and resolve any sort of issues that would otherwise result in outages or malware infections.

Outsourcing to an MSP ensures you’re able to stabilize the business in terms of keeping your technology safe, secure, and up-to-date at all times – giving you the foundation you need to run your business.

Ready to keep your technology running at it’s best – at a fraction of the cost of hiring and maintaining an internal technology department? Get in touch with us. Fill out the form or call (978) 528-0110.

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