The Finance industry is very large, and very competitive – meaning that companies in this sector need to do everything they can to succeed. Leveraging the right technologies is becoming an increasing priority among financial services companies, and many people agree that one of the best technology providers in the business sphere is Microsoft.
We spoke with a company that has been partnered with Microsoft for more than a decade now, and worked with many clients in the financial services sector. TechQuarters, the company in question, provides IT support services London based financial firms have been using for many years, and their services are closely linked with the Microsoft Cloud ecosystem. Their Managed IT Services London companies trust has helped hundreds of businesses take charge of their Microsoft suite.
The Microsoft Cloud is the term that Microsoft uses to describe their ecosystem of business-oriented products, all of which have been built and hosted in their own cloud datacentres. Below is a rundown of their products:
1. Azure – Microsoft’s cloud platform, encompassing over 200 different services, has helped hundreds of thousands of businesses migrate their infrastructures over to the cloud – as well as helped them unlock many new business opportunities.
2. Dynamics 365 – Microsoft’s platform which combines Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). It is perfect for optimising the customer experience, and streamlining an organisation’s sales funnel.
3. Microsoft 365 – Microsoft’s suite of productivity apps and services – including familiar products like Word, Excel, and PowerPoint, as well as Outlook, OneDrive, Windows, and more.
4. Power Platform – Microsoft’s platform for business intelligence, process automation, low-code solutions development, and virtual agent creation.
5. Microsoft Teams – While technically a part of Microsoft 365, Teams deserves to be singled out for the way it consolidates and optimizes communications, and facilitates successful collaboration.
How Can Microsoft Support Financial Firms?
1. Optimize the Customer Experience
Through the use of products such as Dynamics 365, Financial Services companies can successfully tailor the experience of each and every customer. Dynamics 365 encompasses a lot of powerful tools and capabilities – owing to the fact that it combines Enterprise Resource Planning and Customer Relationship Management into a single platform, meaning organisations have powerful centralised console to steer the customer journey in the right direction. Integrations with Dynamics 365 and Microsoft Teams can also make customer onboarding and services much more efficient.
2. Boost Productivity and Workflows
It is widely known that Microsoft 365 is one of the best office suites on the market – this is primarily due to the way it facilitates high productivity levels and helps businesses optimise their workflows. Microsoft 365 encompasses around 40 different apps and services which, altogether, are more than capable of answering all of a businesses crucial day-to-date demands for work.
The fact that all Microsoft 365 applications integrate with one another, enabling the free-flowing of information, means that users are empowered to work in flexible ways in order to find their most productive workflow.
3. Combat Criminal Activity
Every business is at risk of falling victim to cybercrime, and financial companies are at a particularly high risk, owing to the value and sensitivity of the data they handle on a daily basis.
Dynamics 365 in the Microsoft Cloud for Financial Services package includes a unique service designed for financial forms – known as Dynamics 365 Fraud Protection. This product features advanced security tools that help financial services organisations protect their organisation’s data, and their purchases through Account and Purchase protection.
4. Enhance Security & Compliance
Following on from the previous point, the Microsoft Cloud is excellent for. According to TechQuarters, the IT support financial services want should definitely include security assurances, and Microsoft provides them in several ways. Firstly, as all of the different products included are hosted in Microsoft’s cloud datacentres, they benefit from enterprise level security – this means that, by extension, any business using the Microsoft Cloud gets covered by that security. But it also goes further than that – for example, Microsoft 365 includes the product known as Enterprise Mobility + Security.
Furthermore, Microsoft Cloud for Financial Services also includes a unique product called Microsoft 365 Compliance Manager, which helps finance organisations keep on top of the changing compliance landscape.