Gartner predicts that technology investments will witness significant development, forecasting that worldwide IT spending will grow more than 5% across all sectors this year, reaching almost $4.5 trillion—as organizations turn to more strategic long-term programs over reactionary project-based spending. (1)
Also, this year alone, Forrester forecasts tech spending by banks to achieve double-digit growth. (2)
That’s a lot of technology finding its way into the internal operations of the FinServ sector.
Seeing these predictions probably conjures up some thoughts you already had on your mind before you started reading this post:
- “I don’t have the time nor the luxury to be strategic.”
- “I already have a ton on my plate; there’s no way I could take on something new.”
- “My company has me strapped for resources, and those resources are burning out.”
- “My team is already facing many challenges, and skills training tops the list.
While these sentiments may have varying stages of relatability and levels of seriousness based on your unique situation, you probably share some of these common project attributes facing your organization:
- Aggressive and unrealistic time to market requirements and expectations
- Developer angst and dissatisfaction are leading to a lack of productivity
- The build-to-delivery process is fragile, complex, and requires multiple hand-offs
- Infrastructure provisioning and management is a lengthy, convoluted, and manual process
- Operational inefficiencies in managing on-premises and hybrid/multi-cloud environments are getting in the way of progress
- Constant changes in the technology landscape exacerbate the lack of skills and expertise in an already understaffed environment
As an IT executive in financial services, you know these challenges all too well. You probably speak about these concerns with your peers regularly.
It’s time to make a change.
As a leader in the financial services sector, it’s time to move beyond traditional bottom-line, tactically driven projects riddled with the concerns highlighted above. It’s time to develop an IT strategy that doesn’t crush your team as it tries to serve the ultimate business objectives and the more considerable societal value it aims to achieve. This is precisely where—and when—it makes sense to bring in Taos as a strategic partner.
By partnering with Taos, your technical programs, your digital transformation initiatives, and especially your long-term strategic business objectives, can come together in a way that not only meets your definition of success outlined for your projects but does so in a way that addresses each of the more significant concerns you may be carrying as an IT leader. Taos helps organizations take advantage of existing systems and data, improve automation, identify new areas of innovation, and build the tools and processes needed to promote new revenue growth while on the path to a long-term future-fit and resilient organization.
Taos will align our efforts to your business needs as they change and grow. We will also stay on top of the latest operational advancements for an efficient, secure, and agile cloud that leverages the latest technologies, including artificial intelligence, IoT, blockchain, open banking, and big data.
Taos has already had many successes. One example includes the accelerated digital transformation program for a large California-based financial institution. Throughout the project, the Taos team worked closely with the bank operations and technical teams to train, transfer knowledge, and provide turnover documentation to ensure the customer was empowered to run the new tools, technologies, and processes efficiently.
The Taos team successfully accelerated the digital transformation process by implementing a “best-in-class” assessment, design, and deployment methodology that helped the bank execute its strategic goals. (3)
- Overall productivity and time to market were improved with a 95% reduction in deployment times.
- End-to-end provisioning lifecycles were reduced from months to days.
- Developer productivity was improved by an estimated 40%.
Most importantly, Taos significantly enhanced the bank’s security posture and provided a capability to be leveraged for future cloud offerings, leading them toward their desired destination as a future-fit, sustainable financial services institution.
Let Taos’ long-standing financial services industry expertise help you get started. We have the resources and experience to embrace today’s technologies and create and employ the innovation trends of tomorrow. Most importantly, we can connect those two things to the long-term vision for the organization.
To learn more about Taos… www.taos.com
1 – “Gartner Forecasts Worldwide IT Spending to Grow 5.1% in 2022,” Gartner, January 18, 2022 (link)
2 – “Banks Will Double Down On Innovation In 2022,” Forbes, Nov 11, 2021 (link)