September 26, 2008
I know what you're thinking: Is there any more information about financial firms and outsourcing that wasn't included in Derrick's epic-length article from earlier this week? The answer: Yes (but just a little).
The Credit Crisis ...
Has -- at most -- next to nothing to do with IT. So says everyone I asked, at least. For his part Alex of Tabb of the Tabb Group believes the turmoil was caused in large part by poor strategic vision and a quest to make more money by following the leader. Whether the leader was acting intelligently, though, is a whole other question. However, as noted in the article, Tabb does see wise IT investments in playing a huge role in the areas in which IT can help. My paraphrasing of his quote might make me come off as Mr. Obvious, but there is some depth below that statement. An IT system that combines low latency, high availability, high security and fault tolerance, as well as the right people to run it, can help avoid a whole range of ill consequences that might fall short of disastrous, but can have major negative impacts nonetheless.
Savvis' Roji Oommen says outsourcing, in particular, can help traders mitigate losses that can occur in the aftermath of such a mess. If you're hosting your trading platform with a provider like Savvis, for example, you can make the decision to ease off North American trading for a while and focus in less-affected markets like Asia and EMEA, all the while maintaing low latency due to the provider's interconnected infrastructure. And then there is the benefit of reducing spending while budgets remain in limbo. Oommen says Savvis is seeing "a large spike" in inquiries about managed services from customers which Savvis would not have targeted for those services.
A Little More on the Companies
Posted by Derrick Harris - September 26, 2008 @ 12:21 AM, Pacific Daylight Time
Derrick Harris is the Editor of On-Demand Enterprise
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