Every business has adjusted its near-term priorities and longer-term outlook in the wake of COVID-19. In the financial services industry, we see that the pandemic has accelerated some trends. For example, we see firms reassessing their use of outsourcing services for the business-as-usual benefits and operational resiliency.
Institutional and investment management clients who use SS&C Hosting & Outsourcing Services have shared that they have continued to operate smoothly despite the current volatile conditions. Since skilled staff handles various parts of their operations, they have also freed up their valuable resources to focus on critical business issues and strategic objectives. This operational model has also helped them avoid some common pitfalls their competitors are facing, such as challenges with:
- capacity, connectivity and technology issues with remote working arrangements, which significantly impacts productivity;
- side-lined upgrade and implementation projects due to an inability to resource and coordinate staff;
- testing upgrades or other projects remotely because of inadequate infrastructure;
- coordinating and communicating with teams that are split up and working from multiple locations; and
- operational and system security risks and concerns, as well as roadblocks to batch monitoring, IT support and server maintenance availability.
SS&C’s services team and infrastructure already manage clients’ operations securely across multiple locations, so the move to “fully virtual” was seamless to our clients. We have continued to deliver on all service obligations, including daily reconciliations, monthly client statements and quarterly fee billing. As a result, our clients have been able to meet their internal and client requirements and operate as usual. Additionally, our clients and we continue to progress all projects scheduled for 2020.
With everything your business faces, SS&C Hosting & Outsourcing Services can provide peace of mind through our robust systems, connections and business continuity processes as outlined in our recent blog article "Times of crisis prove the value of robust business continuity processes".
If you would like to speak with someone to explore how SS&C Hosting & Outsourcing Services could strengthen your operations and enhance your ability to meet whatever challenges arise, please contact us.