Why digital integrity is key to your organisation’s future
Automated processes, data-driven decision-making, and new, faster tools. Digitisation presents a wealth of opportunities for your organisation to do better, innovate faster, and achieve more with less.
Or at least it should.
But for many firms, the current state looks different. Instead of the efficiency and effectiveness promised by digitisation, it introduces more complexity – and a lot of it.
Why is this the case? Why has something which is meant to make our lives so much easier, brought on new and different challenges?
The answer is simple: Many firms have lost control.
Data and legacy challenges
Digitisation has brought a constantly growing amount of data into financial institutions. Many are overwhelmed not only by the volume but the intricacies which come with it – the different formats, shapes and sizes.
And firms’ legacy systems aren’t built to cope with this. They were designed for a time when data remained in silos, before it became the lifeblood of our organisations. When you try to unleash the power of this data, you quickly begin hitting technical obstacles.
Low- or no-code, cloud-native solutions are another key component of digitisation, promising greater flexibility and cost savings.
But firms often find that integrating these solutions with each other, or with their existing components, is less straightforward. And when activity is effectively outsourced to the cloud, a lack of visibility can let errors and breakdowns slip by unaddressed.
If firms can’t handle these complexities, then they can quickly lose control of their operations. And this makes it impossible to leverage the benefits of digitisation.
Making digitisation simple
Adding to all this complexity is the fact that many firms try to manage these challenges themselves, in-house. But when data and connectivity requirements are constantly changing, they find they’ve taken on more than they can handle.
IT teams struggle to keep up with projects that require deep domain knowledge. And why should they when there are experts out there who fulfil the promises of digitisation every day?
With out-of-the-box data control libraries and rapid customisation, we can quickly give firms what they need. We manage updates and changes to connectivity requirements on your behalf – freeing up your IT teams to focus on value-adding tasks.
We also give firms back much-needed control over – and confidence in – their operations, providing visibility and assurance that processes are being carried out as expected. This simplification around digital transformation is what turns it into a true advantage.
To hear how Gresham is helping firms improve their operations, visit our team at SIFMA Ops (booth #111) May 17-18th in Phoenix. Book a 15-minute meeting here.