BISAM's Summer Intern, Meredith Wade interviews Luciano Mazzella, BISAM's Manager of Managed Services. Luciano and Meredith discussed the flourishing importance and need for Managed Services providers across the industry.
Meredith Wade: What does the Managed Services team do at BISAM?
Luciano Mazzella: The Managed Services team enables enterprises to outsource the burden of deploying, managing, and maintaining their hardware and software infrastructure.
MW: Why are Managed Services specifically relevant for performance and/or risk solutions?
LM: Managed Services equips firms with a proactive management of their attribution and risk systems, providing access to technology for automating and streamlining their solutions. Working with Managed Services allows companies to gain connections and tap into the knowledge of those who understand the B-One and Cognity solutions the best.
MW: Why do BISAM’s customers use the Managed Services model?
LM: There are many benefits for asset managers to utilize the Managed Services model. First of all, the Managed Services team allows internal performance and risk teams to spend less time managing the software and hardware, and focus more time on their core business structure. Additionally, Managed Services works with BISAM’s Professional Services team to optimize the implementation process, serving as a partner and support system to the firm throughout the entirety of the process. We help with data integration checks, controls, and workflow setup; we are on top of the whole system. If something fails during the middle of the night, we are on top of it. If a server goes down, we are on top of that as well. This ensures the best configuration and the best performance tuning for the firm.
Furthermore, many asset managers are global institutions with offices all over the world. Managed Services guarantees and ensures support at all hours of the day across different time zones, allowing firms to be up and running no matter where they are located. Asset management firms handle enormous amounts of data that can prove to be challenging to manage without any aid. The Managed Services team is able to process any amount of data, providing support to the client. Finally, Managed Services reduces the need to acquire, hire, train, and rehire expensive in-house resources during both the implementation period and once the product is live, which eliminates large upfront capital expenditure and spreads the cost of new deployments over time.
MW: What are the key characteristics an asset management company should look at when they ask themselves if they should manage internally or externally?
LM: To be honest, a myriad of different types of asset management firms can work with us. The Managed Services team works with all different sizes of firms, working with those who both have an internal IT system in place and those who do not. In fact, we often work in tandem with a firm’s internal IT team. The Managed Services team is tailored to the B-One and Cognity solutions, making us an asset to the firm. We work specifically to make sure each and every application is finely tuned in the right way. The firm’s internal IT team is then able to focus on managing the rest of their firm’s needs, and thus the company is able to run more efficiently.
For firms who do not already have an internal IT team, we can serve as their external IT department. The Managed Services model eliminates the need to hire and train new employees. It also protects the firm against having to invest in expensive technology, which decreases their upfront implementation costs overall.
MW: Security is a key focus of many firms. How are we ensuring that data is secure although hosted?
LM: In Financial Services, everyone worries about security. The Managed Services team can assure that our data is extremely secure. We have an in-depth business continuity plan that provides our customers with the utmost level of security. Our data is protected both operationally and physically, meaning that we have security checks in place that protect our network and storage of data, but we also have physical checkpoints like video security and optimized biometrics to further safeguard data.
MW: Finally, what are the current trends in the technology sector that you have begun to see affect the asset management industry?
LM: More firms are starting to talk about cloud based management and an increasing amount of asset management firms are starting to adapt the Managed Services model. Many asset management firms have a goal to streamline and simplify their IT operation and they are realizing that the Managed Services model is the way to do so. Managed Services dives into the core of the reporting solution and allows the IT team to focus on internal needs. Overall, the Managed Services model provides asset managers a way to eliminate the time and cost of acquiring new infrastructure while running a more efficient business model.