IT Change in Financial Services - Ready? or Not?

By David Arrowsmith, G2G3

Collectively, financial services generate more revenues per hour from their IT applications than from any other information intensive sector. When IT systems go down, the impact can have disastrous effects on revenue, reputation and customer service. In today's business environment, financial services organizations cannot survive without reliable IT services. Increased expansion, merger and acquisition activity, increasing customer demands, and rising regulatory and compliance activity (including Sarbanes-Oxley and many other regulations) are driving the industry to place further emphasis on improving technology, service and operational performance. Technology-related change is being driven at an unprecedented rate, and technology skills shortages are abound.

Financial services organizations are fast realizing that getting a system or compliance program ready for go-live is only half the challenge - and it's generally the easy half. The bigger challenge is getting the organization's people ready for change, then using the changes as a springboard for future improvement. This is what G2G3 call Readiness - the ability of an organization to deal with changes and adopt them to the point of acceptance, effectiveness and beyond. For more information on creating Readiness... contact us now.