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Evaluate the Benefits of Technology Outsourcing
Growing your firm demands valuable time, resources and focus. In fact 53% of advisors surveyed for Charles Schwab’s 2012 RIA benchmarking study reported that devoting sufficient staff time to business development has been their number 1 barrier to achieving growth.
So ask yourself: What’s my time truly worth?
- Do I gain any competitive advantage from managing data in house (such as collecting, maintaining, reconciling and reporting)?
- Does running servers or backing up data have a direct impact on increasing my revenue or driving growth?
- Can I serve my clients better if I’m more mobile and can access data anytime, from anywhere?
Outsourcing your core operations and technology can help you focus on the things that have a more direct impact on your revenue and growth.
Check out the resources below to see if outsourcing is the way to go for your firm.