White PaperA Holistic View of Google, AWS, and Azure AI Cloud Trends 2024 Read More Globally, worldwide public cloud end-user spending is predicted to reach $679 billion in 2024. This growth is driven by a rising need to adopt new platforms and as-a-service offerings, including artificial intelligence services. As technology rapidly progresses in the domain of AI, Google Cloud, AWS, and Azure cloud trends will continue to shape the future. As AI changes everything we know about our business practices and interactions, the time is now to build a more efficient, effective, and inclusive future. This whitepaper will cover: Rise of AI and Cloud Google AI Cloud Trends AWS AI Cloud Trends Azure AI Cloud Trends You will also come across the benefits of using prebuilt cloud AI services vs. building in-house, like: 67% more options for applying AI 67% faster deployment 66% better support 60% greater scale 48% less reliance on specialized skills
White PaperCloud 101: All You Need to Know About Azure Cloud Readiness Assessment Read More Poorly planned Azure cloud migrations can result in misalignment with business outcomes, higher cloud consumption costs, glitchy apps, and underperforming systems. Gartner predicts that these inefficiencies are costing the average company 14% more in migration spending than planned each year, and 38% of companies have experienced migration delays of more than one quarter. An Azure Cloud Readiness Assessment is essential to ensure a successful and secure migration of your IT infrastructure to the cloud. This assessment can help identify potential obstacles and provide a roadmap for a smooth transition to the cloud. With a well-planned migration, you can avoid unexpected costs and minimize disruptions to your business operations. In this whitepaper, we will talk about: Common challenges businesses face when migrating to Azure Cloud What a Cloud Readiness Assessment is Azure Cloud Readiness Assessment Checklist Azure Cloud Adoption Strategy Roadmap We will also shed light on how you can: Identify which workloads are suitable for migration Estimate the cost of running migrated workloads in Azure Understand dependencies between systems in your data center before migration Plan a smooth migration process
BlogTransform Your Supply Chain with Demand-driven Material Requirement Planning Read More Material requirement planning (MRP) is a critical aspect of manufacturing, allowing organizations to determine the materials and components required to manufacture a product. However, today’s highly volatile supply chains render traditional approaches to MRP ineffective. With lead times fluctuating due to several economic and political factors, many companies end up with stockouts or overstocks. Read how the Demand-driven Material Requirement Planning (DDMRP) module in Dynamics 365 Supply Chain overcomes inventory problems and transforms supply chain efficiency. Understanding the Concept of DDMRP Today’s dynamic business landscape makes it extremely challenging for businesses to forecast demand accurately. Fluctuating oil prices, tensions between nations, and economic uncertainty impact the ability of enterprises to meet the ever-changing needs of today’s customers. Without accurate insight into demand, businesses do not know how much inventory to stock. At the same time, market fluctuations and increasing customer expectations lead to supply chain shortages globally. Demand-driven Material Requirement Planning (DDMRP) is aimed at effectively managing and planning inventory based on actual demand signals. It decouples supply and demand and maintains buffers to ensure an accurate level of inventory while also helping cover demand spikes. Such decoupling ensures small fluctuations in demand at the retail level do not translate into large variability at the wholesale, distribution, or manufacturing levels. It also helps cover the average use of a part and can also be adjusted to cover demand spikes. Evaluating the Critical Components of DDMRP DDMRP allows organizations to streamline inventory management, reduce lead times, and increase overall supply chain agility and resilience. By making traditional MRP sensitive to real-time fluctuations in demand, DDMRP allows organizations to keep up with the volatility, uncertainty, complexity, and ambiguity of modern supply chains. The DDMRP feature is built into Dynamics 365 Supply Chain. Let’s look at the five essential components of the demand-driven material requirement planning model, spanning requirements analysis to day-to-day operations: 1.Strategic Inventory Positioning Strategic inventory positioning helps organizations compress lead times and absorb shocks to the supply chain, restricting variability from passing down. It requires them to identify decoupling points in their supply chain. These can include external variability, inventory flexibility, customer tolerance time, sales order visibility, market lead time, etc. For instance, a garden furniture retailer with geographically dispersed distribution and retail centers can set up customer tolerance time as a decoupling point for each store, accommodating different buffer levels based on lead times, demand patterns, and more. 2. Buffer Profiles and Levels After identifying decoupling points, organizations must move on to determine the buffer for each of these points. These include the minimum quantity, the maximum quantity, and the reorder quantity. In Dynamics 365 Supply Chain, these values can be established across three different zones: The red zone, or minimum quantity level, requires organizations to ensure that stock levels are always above this point. Yellow zone, which describes the reorder point and requires organizations to reorder when this level is reached. Green zone, or maximum quantity, which describes the maximum level to which the stock will be replenished. The furniture retailer can factor in values such as average daily usage, decoupled lead time, minimum order size, order cycle, and variability to calculate values for each of the three zones. 3. Dynamic Buffer Adjustments To optimize inventory levels during periods of high or low demand, organizations can apply demand adjustment factors and fine-tune buffer values in response to changing conditions. For instance, right before summer begins, the outdoor furniture retailer is sure to witness higher sales. To keep up with the demand increase, the retailer can change the demand adjustment factor value and review planned orders to refill the buffers. 4. Planned Orders Generation To generate planned orders for items that are set up as decoupling points, Dynamics 365 Supply Chain applies the concept of net flow to establish the effective on-hand quantity. This is based on the actual on-hand inventory plus inventory that is on order minus qualified upcoming sales. When determining which buffer zone an item belongs in and what the ordered quantity should be, the system evaluates the net flow, not the actual on-hand inventory. The furniture retailer can use the Demand-driven Material Requirement Planning (DDMRP) feature to assign the priority of a planned order based on the ordered quantity as a percentage of the maximum inventory. Depending on the threshold value, Dynamics 365 will generate a planned order when the net flow drops below the reorder point. 5. Visual Tracking Dynamics 365 Supply Chain also allows organizations to visually track buffers, on-hand quantities, and net-flow levels for any item. With the help of charts, they can study how on-hand quantities change over time and make informed strategic decisions. For instance, the furniture retailer can get insight into the value of the on-hand level that was recorded for a specific period every time that master planning is run. It can also understand the category each recorded on-hand level falls into, from critically low, low, average, or higher than average. Make the Most of DDMRP in Dynamics 365 Supply Chain Material requirement planning underpins the successful operations of any manufacturing unit. By specifying which materials and parts to order, how many, and when, it ensures timely production to meet the forecasted demand. However, traditional Materials Requirement Planning (MRP) systems struggle with the volatility, variability, and uncertainty of modern supply chains. DDMRP seeks to tackle these challenges by integrating various principles to ensure that the right inventory is available at the right place and time. Instead of relying on forecast accuracy, it buffers for fluctuations in demand and supply. Since it is more sensitive and responsive to supply chain variations, it helps overcome inventory issues by minimizing excess inventory and avoiding stockouts. Make the most of DMRP with Microsoft Dynamics 365 Supply Chain today!
BlogThe Synoptek Platform: Understanding Impact Via Real-world Examples (Part 5) Read More As technology underpins most businesses today, the effective management of modern tools and systems is vital. The Synoptek Platform functions as a robust ITSM foundation, offering standard processes and tools. Leveraged by over 500 organizations worldwide, the platform enables a common experience for Synoptek customers across all practice areas. Organizations that use the Synoptek Platform are known to experience a 10-20% improvement in their technology function. In the fourth part of our 5-part blog series, we discussed the Service Management pillar of the Synoptek Platform. This last part will demonstrate how a logistics services provider and a nonprofit health agency could transform business results by leveraging the Synoptek Platform. 110% Productivity Improvement for a Logistics Service Provider The logistics service provider simplifies logistics through collaboration, transparency, and cutting-edge technology while delivering what matters most for freight forwarders. The client relied on various siloed systems for shipment process management, customer management, carrier management, freight tracking, and accounting. Key challenges included: Poor visibility across different operations Difficulty in sharing data in real-time Error-prone and time-consuming manual efforts Poor customer service The Synoptek Platform enabled a robust foundation for planning, project implementation, and technology management and support. Using the platform, Synoptek helped the logistics service provider leverage top-notch technology innovations, accelerate business results, and maximize return on investment. The implementation of a centralized, modern, and comprehensive Transport Management System (TMS) helped automate manual processes. Integration between the provider’s 21 applications enhanced data sharing while broadening visibility. The development of real-time reports and dashboards enabled the client to get insight into key metrics. The implementation of automation bots helped automate key closing load processes while streamlining service desk operations. The relentless efforts of Synoptek’s highly qualified and experienced Professional Services teams have enabled the logistics service provider to: Improve overall business efficiency through integration of different third-party systems with a single web application. Enhance employee productivity and customer service outcomes by cutting down on manual efforts and automation of day-to-day activities. Increase freight tracking accuracy and take timely action via alerts received for any transit exceptions or unforeseen delays. Unearth real-time insight into day-to-day operations and successfully respond to business disruptions caused by micro- and macro-economic conditions. Ensure timely shipment to customers via automation and achieve end-to-end visibility into rep and carrier performance. Minimize downtime or performance issues with dedicated support of BI and Data warehouse systems and components. 188% ROI Improvement for a Nonprofit Health Agency This highly respected mental health and welfare agency provides innovative and effective programs and services for children, youth, young adults, and families facing serious life challenges. Prior to engaging with Synoptek, the health agency struggled to maintain a stable technology environment. Despite spending over 5% of annual revenue on IT-related expenses, it could not advance the technology environment forward. Key challenges included: Lack of IT skillsets Slow systems and frequent downtime Poor collaboration between multiple network vendors Low employee productivity Rising cybersecurity threats Synoptek took on the task of modernizing and optimizing the IT environment and made sure technology was a driver for, and not a limitation of, business growth and success. Allocating 31 resources with knowledge and experience across different technologies and domains, Synoptek provided a gamut of Managed Services via global IT outsourcing. This helped reduce risk and costs as well as improve the quality and efficiency of IT support. By advancing the customer’s technology capabilities, Synoptek helped in evolving IT from being a cost center to a business enabler and strategic asset. The Synoptek Platform helped the healthcare company stabilize and optimize its technology environment and drive the innovation required to grow and transform the business. With Synoptek’s support, the customer has been able to: Increase productivity from improved reliability of the IT infrastructure Improve organizational stability as well as enhance strategic vision Boost technology oversight and streamline project management Increase revenue from IT environment improvements Increase operational efficiency “We were able to leverage Synoptek’s technology expertise that we never would have had an opportunity to have and that really pushed us further along across the board.” – CIO Embark on the Journey to Success with Synoptek Today’s businesses need strategic business guidance and IT leadership to remain competitive. Synoptek understands what it takes to keep the lights on while ensuring businesses evolve and transform. Using the Synoptek Platform, we streamline ITSM and ensure the short—and long-term technology strategy aligns with our clients’ evolving business objectives. The three pillars of the Synoptek Platform, aka business management, operations management, and service management, help strengthen the ITSM foundation of organizations. We help build a robust roadmap and realistic and achievable implementation plans, as well as use best-in-class practices to achieve objectives and ROI while ensuring the ongoing management and evolution of our client’s IT environments for long-term success. Reach out to our experts today to leverage the Synoptek Platform and elevate IT project and service delivery.
Thought LeadershipM&A Due Diligence: The Role Of Effective IT Integration In Maximizing Shareholder Value Read More Companies across sectors frequently resort to mergers and acquisitions (M&A) to strengthen market standing, complement existing capabilities and leverage existing customer base or operations, thus enabling better growth and profitability. However, this demands extensive due diligence, the absence of which can result in millions of additional integration costs, a potential failed integration and/or poor realization of the envisioned strategy and shareholder value creation. Understanding The Different Types Of M&A M&A has become integral to organizations’ growth strategy. However, different types of mergers require different approaches and frameworks for success. Merger Of Equals This helps reduce competition, create synergies, gain market share and increase shareholder value. To ensure a successful ‘to-be’ post-merger organization, both merging companies must be aware of the cultural clashes and power struggles that might arise and conduct a thorough assessment to ensure financial, technological and operational integration. Platform Acquisitions In the context of private equity, firms that acquire businesses to serve as their primary platform require the right foundational infrastructure, including robust IT systems, repeatable financial and operational models, and strong sales and distribution networks. Carve-Outs In carve-outs, where a parent company sells specific assets, a portfolio of assets or an entire business unit to outside investors through a Transitional Services Agreement (TSA), complexities include the implementation of new processes and systems from scratch. Add-Ons While add-on acquisitions offer the potential to scale operations, diversify portfolios rapidly and stimulate growth within larger, more established platform companies, understanding the long-term goals of the merger and identifying potential challenges that may arise from the integration of different corporate cultures and operational systems is vital to mitigate potential disruptions. Post-Merger Integration Planning Cultural conflicts, poor communication and unrealistic expectations tend to push M&A efforts off course. Additionally, IT issues, if unaddressed, minimize the chances of successfully capturing the expected return on investment. Embarking on the journey on the wrong foot can lead to several far-reaching consequences, including: Employee disengagement and attrition Unrealized synergy and operational inefficiency Siloed systems and fragmented data Leadership conflicts Communication failure Legal disputes Unplanned costs and unrealized value A careful and well-planned pre-acquisition due diligence assessment and integration strategy can allow for successful value creation and risk reduction post-acquisition. Comprehensive post-merger integration planning can help: Identify and mitigate merger risks and issues Clarify post-merger integration costs and investment Ensure timely execution and value realization Understand cultural gaps/norms and their impact on the post-merger integration approach Ensure synergies between technology function and business objectives, ultimately achieving the desired post-merger integration results Optimize ROI before, during and after the merger while adding value and realizing synergies Understanding The Steps Involved In M&A Integration Planning Understanding the complete lifecycle of the transaction, from due diligence to plan close and post-merger integration, is critical. It’s important to focus on the vision, rationale and strategic objectives of the transaction to identify specific synergies that align with value realization and creation and drive subsequent phases of the process. Consider exploring partnership options with experienced M&A consulting providers to get further support. Gather information on the target company’s processes, systems and organization. Carrying out a complete review of the current IT infrastructure including applications, systems, networks, security, operational support and organization is a critical first step. Companies must also craft an IT checklist, develop an initial estimate of transition costs and run costs, and provide inputs for building the TSA. Understand the buying firm’s process, systems and organization. To avoid losing sight of the original objectives that drive the acquisition, it is important to spend time understanding the buying firm’s processes, systems and organization. This ensures that the right direction guides decisions during the due diligence and post-merger integration planning processes. Identify potential risks and challenges. M&A integration due diligence also includes mapping the analysis of the current state back to business objectives, acquisition rationale, workforce synergies and IT best practices. This helps identify process gaps, security risks, and other issues while addressing current and future needs in these areas. Build a future-state vision of an integrated organization. Once the risks and challenges have been documented, merging entities must plan for post-close activities and the remediation of any critical risks, issues and/or opportunities. Develop an integration plan with costs and timelines. Building a post-merger integration plan helps specify an IT strategic roadmap, an IT pro forma, a going-forward IT organization and a governance model. Focused efforts must be put toward consolidating or integrating overlapping processes and systems. Implement change management strategies for a smooth transition. To enable a smooth transition and fully exploit the potential of the M&A strategy, it is crucial to implement the right set of change management strategies across employee engagement, cultural integration, communication, leadership enablement, etc. Provide recommendations to improve synergies. Recommendations on how to leverage technology strategically going forward are key. Firms must identify and prioritize significant initiatives to further drive toward the vision of a conceptual future state. Maximizing M&A Results A successful merger or acquisition can bolster market presence, bridging gaps in an organization’s product or service portfolio and enhancing profitability. However, many transactions don’t ultimately perform as expected, causing damage in terms of revenue losses, lost employee and customer trust, poor reputation, and more. Carrying out a business and operations-driven M&A due diligence and post-merger integration planning is key to ensuring the process is 100% aligned with the strategic rationale, goals and objectives of the acquisition. By following this advice, organizations can better prepare themselves for a successful growth strategy. Original release posted on Forbes
Thought LeadershipThe Evolution of Customer Success in IT Services – Part 1 Read More In today’s dynamic IT landscape, customer success is no longer simply about keeping the lights on. It’s about forging strategic partnerships that drive mutual growth. We got in touch with Bo Bray, a seasoned Senior Business Development Manager at Synoptek, to share his insights on this critical topic. Bo’s dedication to exceptional client interactions is well-known within the industry. Through this two-part interview series, we’ll explore his perspective on the evolving role of customer success in IT services and the strategies that lead to enduring client relationships. This first part delves into the significance of customer success in IT services. Stay tuned for part two, where we’ll explore the role of Technology Consulting in building successful partnerships. Q1. How do you define Customer Success in IT Services? Bo: Customer success in IT services extends beyond the mere operational functionality of technology solutions. It involves aligning our services with the unique business needs and objectives of our clients to drive overall growth. It also requires us to proactively anticipate needs and identify potential challenges before they arise, offering insights to optimize operations. Over time, the definition of customer success has changed significantly, especially with the rapid pace of technological change and the increasing complexity of the IT landscape that our customers must navigate. Initially, customer success may be narrowly defined as system uptime or response time to incidents or how low the capital expenditure on infrastructure is. Now, it’s none of those things. Customer success today encompasses a broader spectrum, including strategic planning, cybersecurity, resilience, compliance adherence, facilitating digital transformation initiatives, and, most importantly, having all of these things tie back to an organization’s business goals. The continued evolution of the meaning of the phrase “customer success” implies a deeper partnership with our customers where we are seen not just as a vendor, a VAR, or an external provider but as an integral part of their team invested in their long-term success. It’s about understanding that our customers’ business goals are granular and in-depth. It takes our expertise to help solve them and enable innovation and efficiency for them. Q2. What are the potential strategies for customer success? Bo: One pivotal strategy we’ve implemented in developing a customer success platform is a comprehensive interactive portal that gives our customers real-time insights into their IT environments, ticketing systems, project statuses, and more. We call this the Synoptek platform. The Synoptek platform results from extensive collaboration with our customers through years of providing services and working to fully understand their pain points in managing the services we provide to them and their desire for greater transparency and control. The Synoptek platform really serves as a central set of capabilities for our customers, offering them visibility into key insights and actionable intelligence on their IT operations, including risk mitigation and access to strategic advice. Implementing this platform has increased client satisfaction and a 30% improvement in our Net Promoter Score. Moreover, the Synoptek platform has enabled our customers to make more informed decisions about their IT investments, significantly increasing their operational efficiency. This initiative exemplifies our commitment to not just reactively addressing issues but to proactively enhance our customer’s ability to achieve and exceed their business objectives through innovative IT solutions. Q3. How do you continually enhance service delivery and ensure customer satisfaction through your strategies? Bo: Continuous service delivery enhancement and ensuring customer satisfaction are integral to our operational philosophy. Our approach revolves around three key pillars: innovation and adaptation, proactive feedback loops, and personalized service. 1. Innovation and Adaptation Staying at the forefront of technological advancements and industry best practices is essential for becoming a trusted advisor. This involves investing not only in emerging technologies for ourselves and our customers but also in the continuous education of our team. By continually encouraging innovation, we ensure that our services remain relevant and competitive, directly enhancing customer satisfaction. For instance, we regularly host virtual and in-person CIO events, webinars, and other collaborative events. This helps educate and gather broader feedback, enabling us to explore new solutions and build on improvements within our service offerings. 2. Proactive Feedback Loops We establish feedback mechanisms, including regular satisfaction surveys, Net Promoter Score surveys, IT steering committees, client advisory boards, and one-on-one meetings with key stakeholders. This ongoing dialogue allows us to gather valuable insights into our customers’ evolving needs and perceptions, enabling us to make data-driven decisions to refine and improve our service offerings and not just via conjecture. 3. Personalized and Responsive Service Our entire organization is structured around the thought that each customer need is unique, which is why personalized service must be prioritized. This means assigning designated client advisors, client delivery managers, and support teams who are intimately familiar with each client’s environment and business objectives. This personalized approach ensures that our customers receive informed responses to their inquiries and issues, fostering a sense of trust and reliability. Moreover, we employ an advanced CRM and IT service management toolset to maintain a comprehensive view of each customer’s history preferences and future needs, which allows us to anticipate and meet the requirements. By weaving these strategies – innovation, feedback, and personalization – we not only enhance our service delivery but also ensure that our customers’ experiences are consistently positive. This holistic approach is what enables us to maintain high levels of customer satisfaction and continuously ensure alignment of our service delivery with our customers’ changing needs. The Multifaceted Landscape of Customer Success in IT Services As businesses navigate the complexities of modern technology landscapes, prioritizing innovation, feedback, and personalized service emerges as a key strategy for fostering genuine partnerships and achieving sustainable success. Join us for part two of this series, where we’ll delve deeper into Technology Consulting and uncover the secrets to cultivating long-lasting client relationships that fuel success.
Thought LeadershipBeyond the Myths: Mastering Nonprofit Technology Strategies Read More To stay competitive, companies across various industries must continually update their technology to keep pace with advancements and avoid being obsolete. While this holds for businesses in almost every sector, nonprofit organizations (NPOs) are often constrained by tight budgets and poor access to technology. This puts them at risk of being left behind. Budget scarcity has been applied to technology and has resulted in a compounding issue of technical debt accumulation that, left unchecked, could cost significantly more to unravel than if technology had been replaced at more predictable intervals. Given technology’s critical role in modern organizational functions, nonprofits must stay technologically relevant. However, considering the sector’s frequent budget constraints and the rising shortage of personnel, how can nonprofits effectively pursue this goal? Nonprofit consulting services can provide valuable guidance and support in navigating technological challenges and maximizing limited resources. Explore this article to dispel the five myths that commonly mislead nonprofits. Myth 1: You Need to Make Technology Last Longer What We’ve Heard “We need to make technology last longer because it is expensive, and tech expense takes away from our mission.” “Our existing platform still works after 15 years.” What We’ve Found Through our research and engagements with various NPOs, we have consistently encountered technical debt as a prevalent issue among those struggling with maximizing technology. This technical debt often arises from the prolonged use of outdated systems and infrastructure. We’ve also observed that low utilization of available technological tools is very common. This leads to wasteful spending and challenges with data integration. We have seen NPOs using software that is 10+ years old and hardware that is 5+ years old, indicating a misconception about the realistic lifespan of technology. The effort required for regular upgrades is also not part of the technology conversation. Solutions To solve these problems, we recommend establishing a governance program. This program will centralize decision-making on technology investments. It will also enhance the utilization of existing tools and resources. Regular discussions on technical debt within the technology governance program, held semi-annually, can help organizations stay proactive in managing and reducing their technical debt. These are a few things organizations must do: Replace 20-25% desktops annually. Review hardware every 3 and 5 years. Review major business applications every five years and minor apps annually. Furthermore, developing annual operational plans with budgets and goals linked to technical debt reduction can ensure that technology remains aligned with the organization’s mission and strategic objectives. Myth 2: Modern Enterprise Technology is not Affordable What We’ve Heard “We’ve heard about a new platform that could benefit us, but there is no way we can afford it.” “We can’t integrate our systems due to the cost and will simply move data manually.” “We couldn’t afford an HRIS platform, so we built one in a SaaS project management platform.” What We’ve Found Our findings reveal that many nonprofit organizations operate under the misconception that modern enterprise technology is financially out of reach. However, we have observed significant efforts by technology providers to offer discounted rates and donations specifically tailored to the nonprofit sector. For example, Microsoft donated over $3.8 billion in discounted technology in 2023 to the Nonprofit sector. Also, Microsoft is committed to doubling the number of nonprofits they serve in the next three years. Furthermore, we’ve found that transitioning from manual processes to automation can streamline long-term scalability while also leading to several cost and efficiency benefits in the long run. Despite these available opportunities, there remains a lack of awareness among nonprofits about the affordability and accessibility of modern enterprise technology solutions. Solutions To overcome these misconceptions, we recommend that organizations conduct regular audits with service partners to explore available benefits and discounts tailored to nonprofits. Utilizing requests for proposals (RFPs) for new solutions can help organizations gain clarity on their needs. This will ensure alignment with their strategic objectives while also leveraging innovations in generative AI to streamline the process. Implementing a well-defined governance program can further facilitate compliance and strategic decision-making regarding technology investments, ensuring that resources are allocated efficiently and effectively. Myth 3: You Don’t Need Modern Analytics What We’ve Heard “We would like to use analytics to serve our mission better, but we have failed.” “We have chosen our own SaaS platform.” “We can do it alone.” What We’ve Found Our research has consistently demonstrated the essential role of analytics and next-generation technology in driving organizational performance and mission alignment for nonprofit organizations. Despite this importance, there is a common misconception among some NPOs that they either don’t need or cannot afford modern analytics solutions. This misunderstanding often stems from not fully understanding the benefits. This results in the failure to develop a comprehensive strategy for implementation, leading people to choose their own solutions and ultimately complicating the future roadmap. We’ve found that the absence of such a strategy leads to fragmented solutions and dependency on manual processes, hindering efficiency and scalability. Lastly, having the right talent is essential to drive the nonprofit’s business and mission forward. But it is equally important for seamless IT management. Solutions To address these challenges, there needs to be a proactive approach to incorporating analytics into organizational decision-making processes, emphasizing the tangible benefits in terms of performance improvement and mission alignment. Planning for interfaces should be a foundational aspect of any new technology project, ensuring seamless integration and usability of analytics solutions. Additionally, analytics should remain a recurring agenda item in governance discussions and should be linked to key business performance indicators. Establishing strong technology partnerships can reinforce this commitment by providing ongoing support and guidance for aligning analytics initiatives with strategic objectives. Myth 4: Funding/Funders Dictate Where Tech Spend Goes What We’ve Heard “We need to follow specific rules while spending funds.” “In our organization, some “missions” spend more aggressively than others on technology, and the back office may struggle to keep up.” What We’ve Found Our findings indicate that many nonprofit organizations perceive their technology spending as dictated by external funding sources, leading to unbalanced investments and strategic misalignment. We’ve observed instances where IT spending is treated as tactical rather than strategic, often due to a lack of consideration for technology lifespan and long-term planning. The proliferation of cloud-based solutions with easy monthly subscription plans has further complicated matters, creating challenges for budgeting and strategic allocation of resources. Solutions To address these challenges, organizations should prioritize return on investment when evaluating and approving technology projects, ensuring that spending aligns with strategic objectives. Establishing technology spending as a recurring topic for technology governance teams can help facilitate ongoing discussions and strategic decision-making. When IT and finance departments collaborate, they must analyze technology spending and create a budget that aligns with the organization’s goals. This collaboration is especially effective when the CIO and CFO work together. By teaming up, they can ensure that the technology budget is well-suited to the organization’s needs. This partnership allows for a more strategic approach to technology spending. Myth 5: Technology Advancement is IT’s Responsibility What We’ve Heard “IT doesn’t move fast enough to meet our organization’s needs.” “We’ve wanted to leverage new technologies for years but have never made it happen.” “Past attempts at technology transformation have failed.” What We’ve Found Despite established technology policies, organizational processes often undergo adaptations that deviate from established guidelines, leading to potential inefficiencies and inconsistencies. In some instances, organizational process owners may lack the platform or authority to initiate changes to existing processes, hindering their ability to address inefficiencies or implement improvements effectively. The presence of siloed technology and business departments creates barriers to effective collaboration and coordination. This fragmentation hampers the planning and execution of IT transformation initiatives, limiting the organization’s ability to leverage technology effectively. Solutions Establishing a transparent decision-making framework ensures that proposed solutions are evaluated objectively and aligned with organizational objectives. This promotes consistency in the selected solution. Regular maintenance and review of the IT roadmap, involving both business and IT leaders, facilitates the alignment of technology initiatives with organizational priorities. This ensures that IT investments support strategic goals and adapt to changing business needs. Utilizing a business analyst to manage requirements across stakeholders enhances communication and alignment between different business units and IT teams. The business analyst serves as a bridge, translating business needs into technical requirements and ensuring that solutions meet the needs of all stakeholders. Hosting planning workshops involving multiple subject matter experts fosters a comprehensive discussion and analysis of technology issues. These workshops provide a forum for cross-functional collaboration, allowing stakeholders to collectively address complex challenges and develop holistic solutions. Empowering Nonprofits with Strategic Technology Solutions The digital landscape is constantly evolving, and nonprofits can’t afford to be left behind. While budget constraints and resource limitations are real challenges, nonprofits now need to take a proactive stance on technology. By partnering with the right technology providers and adopting strategic frameworks recommended by consulting services for nonprofit organizations, you can bridge the tech gap, increase efficiency, and, ultimately, further your mission. Start your journey today!
BlogPatient Data Privacy: The Role of Cybersecurity in Healthcare Read More Patient data is the backbone of healthcare – be it sensitive personal, financial, medical, or research data. Taking care of people nowadays also translates into taking care of their data. Preserving this data is paramount to humanizing healthcare. However, frequent cyberattacks pose multifaceted threats to healthcare organizations: financial repercussions from ransom demands, reputational harm from data breaches, and operational risks when critical functions are compromised. Did you know that 2023 was the worst-ever year for breached healthcare records? According to a report by The HIPAA Journal, breached healthcare records increased by 156% from 2022. On average, about 373,788 healthcare records were breached daily in 2023. Source: The HIPAA Journal As technology advances, so do the threats to sensitive medical data. This blog delves into the essential strategies and best practices for enhancing patient data protection through robust healthcare cybersecurity measures. From encryption protocols, password policies & managers to access controls, and employee training, we explore how healthcare providers must build their defenses against cyber threats. This will help healthcare owners to sustain the trust and confidentiality of patients. How Cyber Threats Impact Healthcare Data Security Cyber threats pose a grave risk to healthcare data security, endangering patient privacy, compromising clinical outcomes, and straining financial resources. For example- ransomware attackers can hold medical records or access to lifesaving medical devices as hostage. Such attacks can lead to costly repercussions, compromised patient care, and potential identity theft. It should be no surprise that an individual’s complete healthcare record can be sold at a very high price. According to Statista’s report, the medical industry faces the highest cost per stolen record at about $429 due to data breaches. Cybersecurity Threats in Healthcare The healthcare industry faces significant cybersecurity threats that can compromise patient data and disrupt operations. The most common threats include: Ransomware Attacks These attacks can lead to the encryption of sensitive data, hindering access to patient records and potentially risking patient care. As per a recent analysis, about 141 hospitals faced ransomware attacks in 2023. Phishing Attacks Phishing emails with malicious links pose a significant threat by tricking users into revealing sensitive information, compromising data security. The HIPAA journal mentions that phishing is an important cause of healthcare data breaches. Insider Threats Internal staff posing risks through unauthorized access or malicious actions can jeopardize patient privacy and data integrity. Verizon’s 2023 data breach investigations report says miscellaneous errors, misdelivery, and privilege misuse patterns are common in healthcare. All three stem from insiders. Vulnerabilities in Medical Devices Vulnerabilities in implantable medical devices, such as pacemakers, insulin pumps, and infusion pumps, are constantly exploited. Issues with web interfaces and default hard-coded administration passwords threaten patient safety and data integrity. Data Breaches Data breaches via unauthorized access or disclosure of sensitive patient information stem from system vulnerabilities, inadequate security protocols, or deliberate, targeted attacks, posing substantial risks to patient privacy and identity theft. Strategies for Enhancing Patient Data Protection Healthcare organizations must proactively adopt strategies to build cybersecurity defenses and defend against cyberattacks and data breaches. Here’s how healthcare CIOs can stay ahead of cyber threats and implement robust security measures: Encryption Techniques for Securing Patient Data Utilizing encryption methods like Advanced Encryption Standard (AES) or Transport Layer Security (TLS) helps secure electronic protected health information (ePHI) by converting it into a coded format. This can only be accessed with the appropriate decryption key. It ensures data confidentiality and integrity, especially when data is transmitted or stored. Access Control Measures to Restrict Unauthorized Access Implementing access control measures involves setting up role-based access controls, biometric authentication, multi-factor authentication, and strict user permissions. It helps to limit data access to authorized personnel only. This also prevents unauthorized users from viewing or modifying sensitive patient information, reducing the risk of data breaches. Regular Security Audits and Risk Assessments Conducting routine security audits and risk assessments allows healthcare organizations to identify vulnerabilities, assess security posture, and proactively address potential threats. By regularly evaluating systems, processes, and controls, organizations can detect weaknesses, implement necessary improvements, and stay compliant with industry regulations to ensure ongoing protection of patient data. Technologies for Secure Patient Data Handling By leveraging the latest technological advancements in blockchain, artificial intelligence, machine learning, and cloud, healthcare organizations can ensure confidentiality, integrity, and accessibility of patient information: Blockchain Blockchain technology ensures data integrity by creating a decentralized and tamper-proof ledger of transactions. In healthcare, blockchain can store patient records securely, ensuring data immutability and transparency. AI and Machine Learning Applications AI and machine learning are utilized for threat detection in healthcare systems. These technologies can analyze vast amounts of data to identify patterns, anomalies, and potential security breaches, enhancing the ability to effectively detect and respond to cyber threats. Cloud Security Solutions By encrypting data, implementing access controls, and ensuring compliance with regulations like HIPAA and GDPR, cloud platforms provide a safe environment for storing and managing patient data. Implementing a Comprehensive Security Plan Implementing a comprehensive security plan is essential for safeguarding patient data in healthcare. Here are the critical components: Developing a Cybersecurity Strategy Healthcare organizations must develop a cybersecurity strategy tailored to their specific needs, considering the sensitivity of patient data and regulatory requirements like HIPAA. This strategy should include risk assessments, threat intelligence, security controls, and incident response protocols to mitigate cyber threats effectively. Training Staff in Cybersecurity Best Practices Educating the team on cybersecurity best practices is crucial in preventing data breaches. Training programs should cover phishing awareness, password hygiene, device security, and incident reporting to empower employees to proactively recognize and respond to potential security threats. Incident Response Planning Establishing an incident response plan for data breaches is essential for minimizing the impact of security incidents. This plan should outline roles and responsibilities, communication protocols, containment procedures, forensic analysis, recovery strategies, and post-incident reviews to ensure a swift and coordinated response to security breaches. By implementing these components, healthcare organizations can enhance their cybersecurity posture and establish a proactive approach to minimize damage and reduce losses. Keep the Pulse of Patient-safety Pulsating Enhancing patient data protection through robust cybersecurity strategies is critical in safeguarding sensitive information, maintaining trust, and ensuring compliance in the healthcare sector. Implementing encryption techniques, access controls, regular security audits, and leveraging blockchain, AI, and cloud security solutions are great ways to build cyber defenses. Training staff in cybersecurity best practices and developing incident response plans further strengthens the resilience of healthcare systems in the face of evolving security challenges. Embracing a comprehensive security plan tailored to healthcare needs protects patient data and upholds healthcare services’ integrity. By prioritizing patient data protection and staying vigilant against emerging threats, healthcare providers can maintain their commitment to patient privacy and data security. The healthcare industry is on the verge of significant transformation, with innovations and external influences bringing new risks. Now more than ever, it is crucial for cybersecurity and privacy to be seamlessly integrated into the implementation of healthcare services. Industry stakeholders must proactively address the evolving landscape incorporating security measures by design to navigate future challenges responsibly. Embracing these changes not only ensures the advancement of healthcare but also paves the way for a safe and secure future in the healthcare ecosystem. Learn how Synoptek healthcare IT experts can help you in this journey.
Case StudyDynamics 365 Implementation and Support Optimizes a Versatile Industrial Services Company’s Performance Read More Customer: A full-service construction company Profile: The client provides full-service construction services through all phases of the industrial construction process—from site prep through start-up Industry: Construction Services: Microsoft Dynamics 365 Implementation and Support The industrial services company faced several functionality and performance issues with its existing Dynamics AX 2012 implementation in areas such as financial analysis and payroll processing. Learn how Synoptek’s Dynamics 365 Implementation and Support Services helped: Standardize operations across global locations Improve financial control and visibility Drive continuous improvements in business operations
BlogThe Evolution of IT Support: How MSPs Are Changing the Game Read More Companies of every size and in every industry are experiencing a massive shift in how they operate. A few years ago, things changed slowly, and processes were more static. Businesses saw outsourcing as a way to save money in non-mission critical parts of their operations. However, in today’s fast-paced world, traditional outsourcing models fail to cope with the pace of digitization. Companies are outsourcing IT infrastructure processes, either in entirety or selectively, through managed IT services, where a third-party vendor MSP takes on the responsibility of technology implementation, risk mitigation, talent shortages, regulatory pressures, etc. The Changing Landscape of Managed Services in IT Support Gartner predicts that global IT spending will increase by 6.8% in 2024, reaching $5 trillion, up from $4.68 trillion in 2023. IT services are expected to increase by 8.7%, becoming the largest segment and surpassing communication services for the first time. While investing in modern tools and systems is crucial to drive results, Managed Service Providers can ensure these investments are the right ones, implemented at the right time and in the correct sequence. As forward-thinking organizations revisit archaic ‘build vs buy’ decisions, they are increasingly looking to work with Managed Services Providers (MSPs) to keep up with the pace of change. MSPs enable access to the skills they need along with deep industry knowledge and technology capabilities while saving money in day-to-day operational management. Although MSPs traditionally offered support and staff augmentation services, they now help with strategy, filling knowledge gaps, and adjusting tech to meet customer needs. They handle more responsibilities than ever before, from basic back-office processes and IT support to core business functions. The focus is now ‘business outcomes’ and not cost efficiencies alone. Several critical factors drive the growth of managed service providers (MSPs) for IT support services, including: Using real-time data for strategic business decisions is a key factor driving growth in the MSP market. Rising demand for cloud services, cybersecurity concerns, and digital transformation are significant industry trends driving the evolution of the managed services sector. Effective management of client relationships and proactive risk management are also a major reason why companies are increasingly looking to partner with MSPs. MSPs help navigate the ever-evolving IT landscape by proactively managing risks and establishing regular business benchmarks. Adopting managed services adds value to companies by cutting costs and enriching operational efficiency. MSPs enable businesses to focus on their core functional areas, leading to enhancing market performance. Emerging Trends in Managed Services As the demand for managed services continues to grow, so does the competition in the MSP space. To stay relevant, MSPs must quickly adopt new-age technologies and develop forward-thinking approaches to provide innovative solutions that best fit the needs of their clients. Adoption of Advanced Technologies and Increasing use of AI for Proactive and Predictive IT Support MSPs are leveraging Artificial Intelligence (AI) to shift from reactive to proactive IT support. AI tools help MSPs predict and fix problems quickly, reducing downtime and improving system reliability. This proactive approach ensures a more stable IT environment and allows organizations to stay ahead of unplanned disruptions. Business Model Evolution: Transition from Traditional IT Support Services to Managed IT Support Services The old way of fixing IT issues is being replaced by a more comprehensive and proactive approach from managed service providers. Businesses are recognizing the limitations of reactive troubleshooting and are embracing a comprehensive solution through managed services. MSPs provide ongoing monitoring, maintenance, and support, offering a predictable service cost structure. This change helps companies concentrate on their core tasks, while MSPs take care of IT management, creating a stronger partnership. Role of MSPs in Infrastructure Management: Revamping Operational Efficiency through Proactive Maintenance and 24/7 Support Managed service providers are crucial in reshaping how organizations manage their IT infrastructure. Instead of the traditional break-fix mentality, MSPs now prioritize proactive maintenance to address potential issues before they impact operations. With 24/7 support, organizations gain continuous access to expert assistance, minimizing downtime and maintaining peak performance. This shift towards proactive infrastructure management also enhances system reliability. Further, it allows businesses to scale more efficiently and ensure a seamless user experience. Future Outlook for MSPs As the IT ecosystem evolves, MSPs will need to undertake complete enterprise reinvention of businesses to enable them to reach new levels of performance. For a future-proof approach, they will have to realize that every company will be at a different starting point in their digital transformation journey. The right differentiator will now be to understand how and where to employ technology innovations like AI, upgrade their talent, and navigate through challenges responsibly. Adapting to Changing Customer Habits and Demand for Business Consulting The futuristic outlook for MSPs will involve a keen awareness of the evolving landscape of customer habits. As businesses increasingly prioritize efficiency and cost-effectiveness, MSPs will have to adapt to customers’ changing preferences. This will require a thoughtful transition towards more flexible and scalable service models, aligning with the growing demand for cloud-based solutions and hybrid IT environments. Moreover, MSPs are becoming both service providers and strategic partners, offering valuable business consulting services. Understanding each client’s unique needs and providing tailored solutions is becoming a key differentiator to driving practical business outcomes. Delivering Cost-Effective IT Infrastructure, Managing Business Complexity, and Enhancing Digital Footprint MSPs will play a crucial role in optimizing resources, implementing efficient technologies, and ensuring businesses get the most value from their IT investments. With increasing complexity in business operations, MSPs will have to streamline processes, implement automation, and seamlessly integrate diverse IT systems. Furthermore, MSPs will be expected to enhance businesses’ digital footprint significantly. This approach will require a more targeted focus on improving online presence, implementing digital marketing strategies, and leveraging technology to expand the reach of products and services. In essence, the outlook for managed services providers revolves around being proactive, strategic partners who address IT challenges and become catalysts for the overall growth of their client businesses. Driving a Shift Towards Next-Generation Managed IT Services Cost is no longer the main driver for companies to partner with MSPs. What is important is to uphold industry knowledge and data integrity and establish alignment with MSPs over long-term business vision and growth strategy. For successful partnerships, it becomes vital for the providers to demonstrate a proven track record within the client’s industry and domain. While a niche provider may excel in specific expertise, larger and more qualified MSPs can easily comprehend the intricacies of extensive organizational structures and change management challenges. Ultimately, the quest for the right partner becomes a pivotal factor. The focus has shifted towards achieving greater agility, exploring new revenue streams, enhancing employee productivity, and elevating customer satisfaction. Ensure your MSP partner ticks all these requirements. Looking to enhance your IT infrastructure and explore more possibilities of Managed IT Services? Discover Synoptek’s Managed Services to propel your organization towards success.