As the economy takes off, financial organizations are starting to look toward technology as a means of differentiation. But the heady years of high-tech euphoria are behind us. Today, most organizations are approaching technology with a healthy degree of caution, giving equal weight to ROI and innovation. Compared to the recent past, financial services clients are thinking much longer-term, investing time and resources in IT strategy definition and roadmap development, as opposed to an overarching concern with cost takeout. As a result, in these cautiously optimistic times, management consulting applied to technology is undergoing a renaissance. Indeed, BearingPoint’s blend of business and technology consulting provides a formidable value-added proposition to organizations seeking an objective, vendor-neutral advisor. We deliver truly action-oriented solutions based on our expert analysis of industry-specific trends - past, present, and future. Compliance is the word of the hour, and organizations are under increased regulatory pressure to identify relevant patterns out of the vast quantity of data generated by each transaction. That pressure is creating a demand for new computing, data retrieval, and transmission techniques, combined with raw processing power. But even in the realm of more traditional applications, there’s still plenty of room for growth. For example, clients have recently sought guidance in realizing projects that:
In short, financial services organizations have begun to invest again in substantial system integration and application development initiatives. Yesterday’s emphasis on cost reduction, too, has given way to a broader concern with cost management. Organizations today aim to maximize the use of technology by rationalizing and consolidating their networks, data centers, and server farms across their businesses. Now more than ever, companies are aiming at a nuanced strategy of reducing costs and complexities while increasing resource utilization and operational efficiencies. Several additional trends are transforming today’s technology landscape. A number of convergence technologies have entered the mainstream this year - most notably, IP telephony and voice-over IP (VoIP). These technologies are allowing companies to dramatically restructure their costs and enter profitable new markets. Finally, companies today are looking to “bullet-proof” their IT infrastructure, allowing them to minimize the impact of security vulnerabilities, natural disasters, terror attacks, power outages, and other threats to business continuity. BearingPoint helps companies navigate these challenges via a range of solutions that address the specific issues facing financial services organizations in four key domains:
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