First of all, from time to time in the IT world, you as a user or a business owner will have complications. Issue here, issue there, just issues. So think about it. If you purchase IT assistance by the problem or issue, you can’t budget effectively. This means the more problems you have as a customer, the more money we make as your IT service provider. Ka-Ching! Your problem equals dollars for us.

The “answer” to the paying-by-the-problem scenario is to go with a flat-rate, monthly fee model such as our Managed Wise Elite offer. As our customer, when your business is running smoothly due to our preventative work, there are fewer issues we have to fix. The fewer issues we have to fix, the less labor dollars we spend on your account, and the more profitable you are as a customer of ours. You like less problems, we like less problems, so it’s a win-win for both of us! (As a side note, our TAMs, or Technical Account Managers, are required to walk into your office once a week, whether there is an issue or not. That is what we call customer service.)

Second of all, moving all your computing to our private cloud saves you money – Yep, it’s pretty easy! There are servers and virtual desktops, but your environment is on our private cloud. We own all of the equipment, so nothing is outsourced. We can drive you over to your cloud and you can touch the server where your data is being held. It’s not somewhere in LaLa land. Oh, and yes, you have normal work stations and laptops that you use every day.

When it comes to moving over to the cloud, resistance is futile. It is not a matter of IF you move, but WHEN! I have 3 cloud proposals on my desk as I type this article. We are helping companies forklift their businesses, their servers, and their processes to the cloud. Think about it: you walk into your office/home/hotel, and fire up your PC. The screen looks the same, you do the same job, you have the same process, but yet, your servers and systems are no longer in your office, they are now in our cloud (again, it’s our private data center). So, back to the original topic, budgeting IT. With your infrastructure in the cloud, it becomes a flat fee.

So, test me on this. Here is a math equation for you:

Let’s pick a 10 person office for grins.

Part 1

Remember, you don’t have to worry about server upgrades, patches, anti-virus, aging equipment, IT staff, or software upgrades. We manage everything for one low, flat fee.

Part 2

Take what you spent on IT last year and compare it to our flat fee. What is the difference? I will bet you a nice lunch at Salt Grass that it is either less than or within a few thousand dollars of your current spending. Here is the best part: all of your IT headaches are gone! Leave it to the IT Pros at Springfield I.T. Department, who LOVE THIS STUFF! Let us deal with the backend, while you focus on your business.

If you have any questions, I would love to hear from you.

Jeff Wheeler, Managing Partner, vCIO
jwheeler@intelinetsystems.com
SNR 972-331-3311 (Single Number Reach)

Let Springfield I.T. Department show you how much we can save you – in time and money. Schedule an appointment today at 417-942-5636.

Providing Solutions for Real Results,

Winning over customers the old fashioned way….Great Customer Service!
At Springfield I.T. Department our mission is to exceed your technology needs and expectations with our proven solutions, knowledgeable support staff, industry leading consulting and sales services, and skilled technical experts.

The post IT Budgeting is EASY appeared first on Springfield I.T. Department.

Probably the most motivating factor is the ability to stay competitive.

  by  akakumo 

Traditionally, financial institutions keep all their electronic files and programs on computer systems they directly control, servers and mainframes that are physically housed within the organization.

While this is good for security, it makes advancements in technology slow, painful and expensive. Tapping into the power of the cloud to implement new programs, services and applications can make all the difference from a competitive standpoint.

Dangers Inherent in Cloud Based Systems

Unfortunately, moving to the cloud is not without pitfalls and dangers, which must be addressed before financial institutions can fully reap the benefits of cloud computing. Here are the top five risks to consider when it comes to moving a financial institution to a cloud based service.

1- Customer Security

Without customers, you have no business and nothing is more detrimental than the loss of customer’s private information.

As a financial institution, it is vitally important to maintain the security of your customer’s information, after all their account numbers and vital data are all an identity thief needs to wreak havoc.

2- Legal Regulations

Consumers can rest a little easier thanks to the Gramm-Leach Bliley Act, which sets forth the minimum standards a financial institution must adhere to in order to protect customer information and accounts.

Not only do financial institutions have to maintain measures to protect customer information but they must also move quickly, according to the law, to resolve any breach and notify consumers. This law along makes moving to cloud based technology, challenging to say the least.

3- Vendor Stability

The next problem banks and financial institutions may encounter are reliability of the particular vendor.

Cloud computing seeks to make computer service more like a public utility where everyone connects to a “grid” (data servers) for access to service and programs. This means there are several vendors today offering cloud services and the question is how long will they remain in business?

4- Data- Who owns it.

Anytime you are dealing with data, programming, technology or services you better read the fine print in the contract. (Actually, that is sound advice in any transaction!) In this particular case, you want to know who owns the data once it has been uploaded to the cloud.

This may seem like a no-brainer, but there is a reason for contracts so make sure and read any agreements pertaining to this type of business very carefully.

5- Connectivity

There is only one way to connect to the cloud and that is via the internet. Losses in internet connectivity could result in a loss of business continuity. Service interruptions are going to occur from time to time; however, frequent or long-term problems in connectivity could have serious business implications.

Understanding the risks and more pointedly the response time of the service provider is essential to choosing cloud financial IT solutions.

Conclusion

What can be done? Are you in the financial industry and considering a move to the cloud for better efficiency and options?

You need to weigh all of these trends and potential problems carefully. Before a financial institution makes a decision there needs to be a well thought out plan and response sequence to any potential problems. Each cloud service provider should have more information on their website or in print for you to peruse.

Next Steps

Hopefully this post has been useful for your financial institution.

Determining risk, assessing loss prevention measures, and understanding any regulatory issues is imperative for financial institutions considering a move to the cloud.

If you would like to have a preliminary discussion with someones about cloud-readiness and your financial institution, please call Springfield I.T. Department at:

(855) 303-0477 ext.1004

The post Top 5 Most Dangerous Trends Facing Financial Institutions Moving to the Cloud appeared first on Springfield I.T. Department.

It happens with much more frequency than I think any of us would be comfortable with

If your bank hasn’t had a data security break in, you’re one of the lucky ones.

But once a breach has occurred, you’ll be in a much better position if you have a response plan in place. It’ll help the bank primarily with these 3 things:

1. Detect the breach ASAP.
2. Minimize losses and damages.
3. Restore banking operations swiftly.

The Consequences

Without a good process in place, a security breach will do serious damage to your bank’s business. In addition to the financial penalties imposed on by the state¹, there is also the loss of consumer trust, bad publicity, and customers who will leave for another banking institution.

The Process

When your bank has detected a security breach, all activities should be focused on containment, eradication, and recovery.

Containment

A few key decisions are part of the containment stage. The decisions depend on the severity of the breach.

For example, if it involves account information and passwords theft, should all accounts be on lock down? Were all accounts affected? Or just certain ones from a specific database? Who needs to be notified?

Naturally, the decision scenarios should all be predefined during the preparation stage. It should be mapped out in flowcharts or decision trees.

If possible, get a memory dump of the servers and cut the log file and back that up. Also, increase the current level of logging. Logs will come in handy for investigating later.

Keep in mind, everything done should be documented for forensic, investigative, and regulation purposes.

Eradication

Eradication is necessary for breaches that involve viruses, worms or any other malicious code like malware, root kits, key loggers, etc.

Eradication may not be needed in all cases and can be combined with recovery.

Again, proper documentation of everything completed will be needed.

Recovery

Recovery may include:

• Password changes
• System, computer, laptop, tablet backups and restorations
• File replacements
• Server and computer patches
• System rebuilds

Post-Incident Activity

Systems that are known to hackers as vulnerable will be attacked again. If possible, increase the firewall and network security. Sometimes the breach is the first of many, or could have just been a test or diversion by the hacker.

After the incident is when you’ll do a “lessons learned” session — what went wrong, what things were done right, how did the security breach occur, what can we do to mitigate this risk.

The purpose of the meeting is to update your bank’s policy, procedures, and strategies in the event future security breaches happen again.

Next Steps

Hopefully you’ve found this post useful for your bank.

Having policies, procedures, and strategies is all great in theory, but the one thing that will really help is to practice and have scheduled incident simulation/rehearsal sessions.

You can find more resources below.

And if you would like to have a preliminary discussion with someones about security breaches and your financial institution, please call Springfield I.T. Department at:

(855) 303-0477 ext.1004

References

1. State Data Breach Statute Form: Requirements for Specific State

2. NIST Information Security Handbook: A Guide for Managers

Additional Resources

1. How To Prepare for, Respond to and Manage Breaches

2. Security & Privacy Made Simpler: Manageable Guidelines to Help Protect Your Customers’ Security and Privacy From Identity Theft & Fraud

3. FTC Bureau of Consumer Protection Business Center’s webpage on “Data Security”

4. IT Security Breaches in Financial Institutions

The post How to Deal With Security Breaches for Banks appeared first on Springfield I.T. Department.