How a Technology Plan

Helps Los Angeles RIAs

Courtesy of FPA Technology Services, Inc.

http://www.TechGuideforLAInvestmentAdvisors.com

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Many companies have

had the negative experience

of investing in new hardware

and software only to discover

the following:

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• It is incompatible with

the existing equipment

or IT infrastructure

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• No proper training for staff

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• Upgrade and support costs

are higher than expected

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A well-written technology plan

will help a Los Angeles

investment firm articulate what

is needed and communicate

those details to all employees

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Assess Company Needs

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When putting together

a technology plan,

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the employee or employees

responsible must determine

IT requirements from every

level of the investment firm

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Once products (computers,

software) and/or services

(cloud storage) have been

obtained,

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goals need to be set

for features such as

network availability, firewall

performance, and reliability

of new software

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Select Adaptable Technologies

Whenever Possible

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A solid plan needs to take into

account where the company

will be in six months, a year,

and beyond,

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so IT staff can seek out

technology that will

support those goals

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Develop a Business

Contingency Plan

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That way, company

applications and data remain

available to both employees

and clients in the event of a

natural or man-made disaster

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Develop a Strong Support Base

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All technology plans need

to identify support services

and the parties responsible

for them

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Examples include:

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• Help with installing and

upgrading hardware,

software, and applications

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• Troubleshooting

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• Ensuring that critical

operations can carry on

without disruption

during maintenance

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• Security protocols

for protecting company

and client information

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By addressing current

shortcomings and future goals,

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a well-rounded plan ensures

that technology will always be

a company asset instead

of a hindrance

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Bottom Line

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Developing a budget

supported technology plan

and reviewing it at

regular intervals can ensure

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that company hardware and

software solutions continue to

provide maximum value

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Does your firm have

a technology plan in place?

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Do you feel that it has

contributed to operational

strength and stability?

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Let us know your thoughts

in the Comments box below

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