As the coronavirus pandemic continues to change the way we live, work, and connect, it’s an important time to consider what’s next. In truth, the event we’re living through is unprecedented with school closures, large-scale lockdowns, and businesses being forced to shut down or embrace remote work.
It’s an uncertain time, especially for CFOs in charge of handling the finances amongst the fear, panic, and economic changes happening right now and into the future. Naturally, the CFO plays an integral role right now – determining what’s necessary to keep their organization afloat, despite the majority of businesses facing difficulties associated with:
So what do CFOs need to know about hiring internally vs. outsourcing when it comes to managing their information technology? Well, for many, the most important thing to keep in mind is that information technology shouldn’t be overlooked during this difficult time. Information technology has played a crucial role in many organizations tackling the challenges associated with remote work.
Many organizations have embraced remote work in response to social distancing and shelter-in-place orders. Naturally, information technology has played a crucial role – allowing them to:
Although information technology has played a critical role in maintaining the safety and survival of many organizations across the nation, CFOs must not overlook the fact that information technology should also play a role in the next two steps they need to take:
As the duration of the coronavirus pandemic remains unclear, it’s time for CFOs to optimize cash reserves as much as possible. Although information technology is incredibly valuable right now, who should manage that information technology? Financially, what makes the most sense: hiring an internal IT department or outsourcing to an MSP?
Although there are many qualified, talented technology professionals out there for hire, the following costs will be required:
An MSP, on the other hand, is available at a flat-rate monthly fee – delivering all of the services and support you need without the additional expenses. This means you gain the following benefits:
So what makes the most sense financially? The MSP tends to be more affordable – giving you more cash-flow available as well. There are no upfront costs associated with setting up a workstation for them or providing any necessary training or certifications.
As we mentioned above, the CFOs’ primary goal right now is ensuring the safety and survival of the organization. But afterward, they must focus their efforts on stabilizing the business in anticipation of the end of lockdowns and preparing the business for greater resiliency before another disruption occurs. An MSP can assist with both of these steps – as outlined below: