The post Outsmarting Ransomware: How Investing in Proactive Cyber Operations Today Helps Save You Tomorrow first appeared on Agio.
]]>These highly evolved attacks, executed by increasingly sophisticated cybercriminals, can compromise your systems through a single vulnerability, crippling firm operations and holding your critical data hostage for a hefty ransom. But paying up offers no guarantees of regaining access or avoiding future extortion attempts – a lose-lose scenario.
Now more than ever, it’s time to pivot from a reactive incident response mindset to a proactive cyber operations strategy. And partnering with a dedicated Managed IT and Cybersecurity Services Provider (MSP) is the key to achieving true cyber proactivity. At Agio, we understand the gravity of safeguarding sensitive financial data, facilitating high-value transactions, and maintaining robust security for your firm. That’s why proactive cyber operations are our core focus, leveraging cutting-edge technologies and threat intelligence to fortify your defenses before threats can even materialize.
As you know, with the high-stakes game of ransomware, staying one step ahead is the only path to victory. Read on as we delve into why investing in proactive cyber operations through an MSP partnership is a strategic move to safeguard your firm’s critical assets, minimize disruptions, and ultimately, protect your bottom line.
While ransomware attacks may seem like a mindless act of digital vandalism, the reality is far more calculated. Behind these attacks lies a complex ecosystem of skilled and motivated cybercriminals driven by a potent combination of financial gain and, in some cases, ideological or political motivations.
According to Verizon’s 2023 DBIR, ransomware is involved in over 62 percent of incidents orchestrated by organized crime actors and in 59 percent of incidents motivated by financial gain. Experience tells us that threat actors will continue to focus their efforts where they’ve seen success.
At their core, ransomware hackers are opportunists, always looking for the easiest way in. As highlighted in the same report, the top three ways attackers get into an organization are swiping credentials, phishing emails, and exploiting vulnerabilities.
While a phishing email typically holds a sense of urgency, ransomware hackers are surprisingly patient and persistent. They meticulously research their targets, mapping out networks and identifying critical systems and data repositories. Their plan of attack often involves extensive planning and staging, ensuring maximum impact and leverage during the eventual encryption and extortion phase.
By understanding the mindset and tactics of ransomware hackers, it’s easier to stay one step ahead of these relentless adversaries.
Let’s unpack the aftermath of a ransomware attack. Unless you’ve experienced one for yourself, it can be hard to imagine what those first few hours are like.
According to the National Cyber Security Center, ransomware can lead to “temporary or permanent loss of sensitive or proprietary information, disruption to regular operations,” and hefty financial losses in restoring systems and files. And the damage doesn’t stop there; questions start rolling in from your executives, then investors, insurers, and regulators.
Determining exactly what data, if any, was exfiltrated is always a challenge. Employee data, investor documents, position and strategy details —everything’s up for grabs. And let’s not overlook the long-term repercussions. Your business continuity takes a hit, and rebuilding customer trust? That’s no small task.
What’s the game plan if you’re caught in a ransomware attack? Well, first off, you need to detect and contain the threat. Cybersecurity and Infrastructure Security Agency (CISA) recommends a thorough response checklist, including isolating affected systems, prioritizing recovery efforts, and identifying and remediating the initial access vector.
But remember, you don’t have to tackle this alone. Ransomware attacks are complex, and you need a cybersecurity expert in your corner to help with prevention.
When it comes to dealing with the fallout, it’s not just about the financial hit – your reputation, operations, and potentially your job security can take a beating too. The cybersecurity industry has coined the term “Pink Slip Phenomenon” to describe a harrowing reality: ransomware attacks can directly lead to employee layoffs, either immediately or in the aftermath. A sobering survey revealed that 29 percent of organizations were forced to lay off employees due to the financial strain caused by a ransomware incident.
And according to an article by Fisher Phillips, ransomware attacks cost businesses a record-high of over $1 billion in 2023. Just over the last year, the average cost for ransomware attacks surpassed $5 million.
Take the Royal ransomware breach, for instance. The cybercriminals behind it targeted the city of Dallas on May 3, 2023, resulting in substantial network disruptions that led to the closure of Dallas courts until May 31. In September, the release of “The City of Dallas Ransomware Incident: May 2023” shed light on the attack’s intricacies. The report unveiled that the Royal operators initially infiltrated the system with service account credentials. With this unauthorized access, the attackers lurked within the victim’s network for a month before executing the ransomware deployment. Efforts to restore systems and services took over a month.
In response to the devastating impact, the Dallas City Council authorized an $8.5 million budget for mitigation and recovery measures. This encompassed expenditures on external cybersecurity expert services, identity theft and fraud protection services, as well as breach notification services, aiming to fortify the city’s defenses against future cyber threats.
Depending on the size of your firm, you’re looking at paying less than $35,000 as a one-time fee for cybersecurity services. And if you opt for ongoing protection to keep your systems safe 24/7, your investment remains well below three figures. When you compare that price of prevention to the $8.5 million spent on the response, the decision becomes a no-brainer. It’s pretty simple – when your operations are being crippled and your reputation is at risk, the prices are higher than taking a proactive approach.
Ultimately, investing in proactive prevention measures is not only a prudent decision but a cost-effective one. Allocating resources upfront to fortify your defenses pales in comparison to the potential financial devastation of paying exorbitant ransoms.
By prioritizing prevention through cutting-edge technologies, threat intelligence, and robust security measures, you can mitigate the risk of falling victim to ransomware attacks and avoid the devastating ripple effects on their workforce and operations.
To fully protect your organization, Managed IT, Cyber Governance, and Cyber Operations should work hand-in-hand. Cyber Governance establishes the policies, procedures, training, and initiatives that set security foundations. But when threats arrive, you need Cyber Operations to actively execute those policies and empower personnel to respond.
With Managed IT overseeing your core infrastructure and a cohesive Cyber Governance and Operations approach, you gain end-to-end security coverage. Having it all under a single provider can align technology, people, and processes to operate security seamlessly across domains. Unified visibility and coordinated responses become possible when all components are orchestrated together.
Additionally, take Incident Response Service, for example. With tactical tabletop exercises, you can simulate real-world cyber threats and fine-tune your response strategies. And let’s not forget about the Securities and Exchange Commission (SEC) Cybersecurity Governance Program. With C-suite tabletop exercises and whiteboarding sessions, you can ensure that you are prepared to handle cyber crises.
Let’s wrap things up with a quick recap. We’ve talked about the devasting impact of ransomware attacks, the importance of investing in quality cybersecurity services, and the risks of cutting corners. So, here’s the bottom line: prioritize cybersecurity and invest in comprehensive Cyber Operations services.
At Agio, we’re experts in Cyber Operations, and we know firsthand the importance of staying proactive when it comes to cybersecurity. Don’t wait until it’s too late—act now to protect your assets and your organization from ransomware. Trust me, it’s worth it.
The post Outsmarting Ransomware: How Investing in Proactive Cyber Operations Today Helps Save You Tomorrow first appeared on Agio.
]]>The post SEC Fires $50 Million Shot Across the Bow: Vital Lessons from LPL & Ameriprise Ahead of Copilot Implementation first appeared on Agio.
]]>The cases against LPL and Ameriprise shed light on significant gaps in data compliance that just can’t fly in today’s regulatory environment. With the SEC turning up the heat on electronic recordkeeping practices, the risks of lax monitoring and data governance are crystal clear.
And as firms gear up for the rollout of Microsoft 365 Copilot, seamlessly integrated into productivity and compliance workflows, ensuring top-notch data compliance has never been more critical.
It’s essential for all SEC-registered firms to take note of the hard lessons learned from the LPL and Ameriprise incidents to avoid falling into the same costly traps. That’s why, in this article, we will explore vital lessons firms can learn from these examples, especially firms considering implementing AI productivity tools like Microsoft 365 Copilot.
At the crux of the SEC’s enforcement actions against LPL and Ameriprise was their inability to properly archive and supervise communications across digital channels like text messages, WhatsApp, and personal email/apps.
The SEC has been quite clear on the need to capture electronic business communications. Their OCIE Risk Alert on Electronic Messaging highlighted this as a key focus area for examinations of investment advisers and broker-dealers.
Rules associated with this come from Section 17(a)(1) of the Securities Exchange Act, which authorizes the SEC to mandate recordkeeping requirements “necessary for investor protection.” Specific rules like 17a-4 and 18a-6 specify that electronic records must be kept in an immutable, non-rewritable format (WORM) or using audit-trail systems that permit data reconstruction.
A few unmistakable themes emerge from examining the LPL and Ameriprise cases side-by-side:
For SEC-regulated entities, these recent cases are a bracing wake-up call. Data governance, electronic communications capture, and proactive monitoring must become embedded into the DNA of compliance programs going forward. The penalties and reputational damage are simply too severe to ignore these risks any longer.
As firms consider adopting Microsoft 365 Copilot across productivity workflows, rigorous data governance is crucial. While Copilot has built-in ethical AI principles, firms must create secure, monitored environments for all communications and content generated by the powerful language model.
Without robust data compliance controls from the start, the torrent of AI-generated information could quickly spiral into the same recordkeeping chaos that burned LPL and Ameriprise. Firms should view Copilot’s rollout as an opportunity to modernize outdated governance frameworks.
Luckily, Microsoft has tightly integrated Copilot with its Purview eDiscovery compliance tooling. Purview provides end-to-end data lifecycle management – preserving, collecting, analyzing, reviewing and exporting content across Microsoft 365. With Copilot outputs flowing through this monitored system, firms can bridge AI’s productivity upside with essential compliance guardrails.
To help firms maintain compliance as they adopt Microsoft Copilot, key Purview features like labeling and auditing have been updated to work seamlessly with the AI assistant. Customers with Office 365 E3/E5, Microsoft 365 E3/E5, or Business Premium subscriptions will be able to audit and discover prompts fed into Copilot through Purview’s integrated capabilities.
The penalties against LPL and Ameriprise Financial serve as a wake-up call that the costs of noncompliance with data regulations are unacceptably high. Firms cannot afford similar missteps, especially as paradigm-shifting technologies like Microsoft 365 Copilot become commonplace.
That’s why expert guidance is essential for navigating evolving data compliance mandates.
Our team provides comprehensive advisory services to help firms develop holistic strategies for responsible AI adoption:
Additionally, Agio’s partnership with Global Relay provides archiving solutions to capture communications across unmonitored channels like WhatsApp, personal email, and text messaging. This comprehensive approach ensures all Copilot inputs and outputs exist within a governed, auditable environment aligned with evolving data compliance standards.
With extensive knowledge of the SEC’s expectations around electronic data compliance, Agio ensures firms have the processes and technology solutions to mitigate risks – enabling secure adoption of AI while avoiding the pitfalls of LPL and Ameriprise.
The threat of multi-million-dollar enforcement actions certainly gives firms motivation to get data governance right. But the imperative extends beyond just financial penalties to protecting professional reputations, client trust, and the fundamental obligation to safeguard investors’ best interests.
Contact us today to make your AI adoption SEC-compliant from day one.
The post SEC Fires $50 Million Shot Across the Bow: Vital Lessons from LPL & Ameriprise Ahead of Copilot Implementation first appeared on Agio.
]]>The post Preparing for the New PCI Standards: More Stringent Requirements and Complexity Coming After March 31, 2024 first appeared on Agio.
]]>However, after March 31st, 2024, significant updates to the PCI DSS take effect, bringing more complexity for merchants and service providers. At Agio, our experts are always tracking changes to enable merchants and service providers to identify gaps between current security controls and PCI DSS requirements, develop a roadmap for remediation, and complete your annual assessments.
With PCI DSS v4.0, there is a shift to a zero-trust approach. Simply attesting to periodic activity like penetration testing or security awareness training is no longer enough. Entities need to demonstrate explicit, documented evidence that these and other recurrent requirements actually occur in line with PCI’s guidelines. Key additions include more rigorous vulnerability scanning, additional multi-factor authentication requirements, protection of pre-authorization sensitive authentication data, targeted risk analyses, and greater protection and management of payment pages.
For example, merchants and service providers will now have to provide detailed documentation that security awareness activities occurred on specific dates, which employees completed them, what the training encompassed, and who approved the content. Similar granularity applies across all periodically performed processes under PCI DSS v4.0.
PCI DSS v4.0 also newly requires merchants to conduct penetration testing and vulnerability scans from inside your network. For example, with the new requirement, any penetration testing, or vulnerability scans should be conducted behind an internet-facing virtual private network (VPN). With remote work continuing across financial services, securing external connectivity has become a heightened concern.
Meanwhile, service providers will have to demonstrate added vigilance around detecting cardholder data in logs and awakening new requirements around securing credentials and minimizing unnecessary data retention.
For a full list of changes, please visit the PCI SSC’s Document Library to download a Summary of Changes.
You might ask – what’s the consequence of lagging or only partially meeting the PCI DSS controls? How does non-compliance impact my relationship with payment processors and card brands? Does non-compliance come at a cost?
Unfortunately, the short answer is yes — lack of strict PCI DSS compliance can directly hit your bottom line. Even before version 4.0 added these extra requirements, staying fully compliant was already tough for a lot of merchants and service providers, given the hundreds of requirements. The costs can vary, depending on the violation, the allotted time you continue to violate, and if there was a breach.
Now, what’s the damage if assessments reveal partial or full non-compliance? Beyond shaking the trust you’ve built with your processor and card brands; they can impose tough financial penalties. And if insufficient progress towards full compliance draws fines over longer periods. Ultimately, brands can go as far as permanently cutting off payment processing altogether for serious repeat violations — a nightmare scenario for revenue.
So in short — letting PCI obligations, old or new, slip through the cracks introduces major monetary risks and relationship impacts that cut straight to the core of operations. And while the exact consequences may differ, preventing such incidents is paramount.
But you don’t have to go through it alone. Agio is equipped with the right knowledge and experts, with over a decade of experience, to keep you from reaching that point.
Given the substantial financial and reputational risks of not meeting PCI DSS requirements, whether long-standing or newly introduced, the time is now for merchants and service providers to get prepared. Yet adhering in full can be overwhelming, especially for smaller firms lacking specialized IT and compliance resources.
When it comes to getting up to speed on these new PCI standards, we always recommend going straight to the source. The PCI Security Standards Council’s website has a wealth of in-depth resources that break down all the nitty-gritty details on what’s changing and how to prepare.
Additionally, be sure to check out the Council’s Document Library, where you can download a Summary of Changes. This piece lays out a helpful side-by-side comparison that spells out exactly what merchants and service providers like yourselves need to do to comply with the updated requirements.
Reviewing those materials is the best first step to get yourself and your teams educated. Forewarned is forearmed, so having that PCI knowledge under your belt ensures you fully understand the regulatory expectations and can plan your compliance efforts accordingly.
At Agio, we know it can be daunting, intimidating even, to sift through a 40-page document whenever a new standard or regulation comes out. That’s why we have the right guidance and tools in place to make PCI compliance easier for you.
Leveraging managed IT and cybersecurity providers like Agio makes the difference. We lift the compliance burden through holistic offerings spanning advisory, design, documentation, testing validation, and remediation based on our deep bench of dedicated PCI compliance experts.
As a Qualified Security Assessor (QSA) for over a decade, Agio has always followed stringent documentation standards, even before PCI announced requirements for detailed proof. We believe comprehensive documentation and due diligence are key, and clients can trust that we do our due diligence both in the past and moving forward.
Agio evaluates primary compliance domains like securing systems/networks, protecting stored data, encryption, access controls, monitoring, and policy enforcement. We further help merchants scope cardholder environments correctly – which categorizes required compliance activities.
But we don’t just assess – our compliance team advises security roadmaps and partners long-term to ingrain required controls. We provide expert resources to not only get in compliance but stay in compliance amidst shifting demands.
Here’s how Agio delivers 360 degrees of PCI support:
Our extensive experience spanning complex merchant environments and service provider ecosystems translates into tailored strategies and acceleration support for addressing PCI DSS v4.0 changes head on. We communicate fluently between technical, operational, and executive stakeholders while providing transparency every step of the way.
Don’t go it alone – a data breach resulting from PCI compliance shortcomings can spark immense financial damage stretching into six-plus figures and wreck consumer trust.
Turn to Agio’s PCI 360 Compliance Program for end-to-end guidance adhering to and benefiting from PCI DSS v4.0 while insulating your financial services organization from risk. Investing in robust security fundamentals pays dividends across cyber resilience, partner trust, operational efficiency and ultimately long-term profitability.
Contact Agio today to schedule your PCI gap assessment and roadmap consultation.
The post Preparing for the New PCI Standards: More Stringent Requirements and Complexity Coming After March 31, 2024 first appeared on Agio.
]]>The post Unlocking the Power of Windows 365 Enterprise Cloud PC: A Cost-Effective Solution for New Hedge Funds first appeared on Agio.
]]>Enter Windows 365 Enterprise Cloud PC – Microsoft’s personal PC in the cloud, enabling your whole workforce to now access their personalized Windows desktops and apps securely from anywhere, on any device.
The best part? With Windows 365 Enterprise Cloud PC, you already have a virtual desktop solution at your fingertips. Microsoft has done the heavy lifting with development, so you don’t have to. There’s no need to spend technical capital on complex projects or manage them through laborious processes. You simply subscribe to Windows 365 Enterprise Cloud PC, and within a few clicks, it’s all yours – a fully functional virtual desktop environment, ready to empower your team’s productivity from day one.
For traders, analysts, and other professionals who often find themselves meeting clients on the go or working remotely, Windows 365 Enterprise Cloud PC makes it super easy for your team. You simply just log into the virtual desktop using a web browser, and it feels just like a PC running Windows.
This means your teams can maintain productivity from any location without the hassle of carrying extra gear or being tied to fixed remote desktop setups. Your employees can seamlessly transition between personal and shared workspaces based on their location and needs.
Moreover, with Windows 365 Enterprise Cloud PC, your teams can collaborate in real time using Microsoft 365 apps like Word, Excel, PowerPoint, and Outlook, all powered by the dynamic computing capabilities of Azure.
With Windows 365 Enterprise Cloud PC you’re charged a fixed monthly fee for round-the-clock access to your cloud PC. This fee is applied per user.
Plus, you can dynamically shift resources to front-office, middle-office, and back-office functions quickly through intuitive management portals rather than complex hardware procurement and deployment cycles. This agility and efficiency ultimately translates to leaner operations and higher margins.
As you know, robust security and compliance are mandatory for hedge funds. Windows 365 Enterprise Cloud PC is secured by Microsoft’s Azure Storage server-side encryption (SSE). This means any data you have in the cloud is encrypted and secure.
Multi-factor authentication, single sign-on, and conditional access provide secure sign-in. Sensitive data can be isolated within private virtual networks. Remote wipe, data rights management, and threat monitoring safeguard assets.
Don’t let outdated desktop computing models inhibit your business’ agility. With Agio’s next-generation Desktop-as-a-Service (DaaS) solution, you can empower your workforce with secure, high-performance remote workstations accessible from anywhere. Our cloud-hosted virtual desktops provide the freedom of mobility combined with industry-leading security capabilities to protect your critical data.
Powered by Microsoft Azure and configured through Agio’s advanced cloud management platform DaaS eliminates capital expenditures and infrastructural constraints. You gain a fully scalable end-user computing model with streamlined administration – letting you focus on strategic initiatives rather than desktop management.
See for yourself how Agio DaaS translates to accelerated productivity, reduced risks and optimized costs across your environment. Connect with our team today to explore a custom DaaS implementation tailored to meet your exact business requirements.
The post Unlocking the Power of Windows 365 Enterprise Cloud PC: A Cost-Effective Solution for New Hedge Funds first appeared on Agio.
]]>The post If You’re Not Bundling XDR & Managed IT, You’re Leaving Room for Vulnerabilities first appeared on Agio.
]]>When it comes to security operations, timing is everything. Sensor downtime or delays from alerting to response can be the difference between stopping an attack and a data breach. When your managed IT and extended detection & response (XDR) services are handled by separate providers, you run the risk of delayed response and service.
Chris Schoenwetter, our Director of Cyber Operations, did a short case study on the outcomes of two similar firms with different managed IT and SOC designs. The first firm, let’s call them Firm A, separated services (with Agio handling only XDR and another vendor managing their IT). Firm B bundled XDR and managed IT with Agio. As we describe below – the difference was significant. The bottom line: If you’re not bundling your XDR and managed IT, you’re in a potentially vulnerable position.
Misconfigurations, poor security hygiene, and weak controls are common ways a threat actor can gain initial access to a company’s environment.
In our example for Firm A, Agio’s XDR team identified a server that was potentially misconfigured (and therefore vulnerable to exploitation by threat actors). The XDR team contacted the client to report the vulnerable machine and begin remediation. The client then connected the Agio XDR team with a separate vendor that handles their managed IT.
Rather than addressing the misconfiguration immediately, an email thread was started, responses took hours, and a call was scheduled for the following week due to scheduling challenges. Before that call, the machine was compromised by a threat actor, escalating routine maintenance to a cybersecurity incident. The third-party managed IT team couldn’t isolate the vulnerable machine before the threat actor pivoted to internal systems, ultimately exfiltrating data and deploying ransomware.
Multi-vendor solutions are simply less agile in responding when a vulnerability emerges. The ability to correct weak security controls or remediate insecure processes is critical to prevent initial access by threat actors. Rather than dealing with a single, fully coordinated and aligned team, you’re working against different processes, staff, and leadership which increases risk by increasing the time it takes to remediate.
In a multi-vendor scenario, our data shows that response time takes, on average, 40% longer to resolve than when services are consolidated with a single team. That’s time we simply can’t afford to lose.
In our second example, Agio’s XDR team detected a similar misconfiguration at Firm B. Because the client bundled both their XDR and managed IT services with Agio, we could flag the issue immediately to our IT support team. Within two hours, we resolved the issue, reported the activity to the client, and moved on without incident. The ability to move quickly with an internal team meant that Firm B was presented with a problem and an in-progress solution. They spent less time with a vulnerable system and avoided a potential attack.
All companies have exploitable vulnerabilities. Our data show that managed IT and XDR with us are up to 80% less likely to see a vulnerability escalate into an incident.
Now that we have covered two similar firms with different managed IT and SOC designs – one bundling services, and one separating – let’s recap the vulnerabilities your firm faces when separating managed IT & Cyber Operations services, drawing from recent examples seen by Agio’s Cybersecurity Analysts.
Contain Cyber Vulnerabilities with Best-In-Class Service
The compared firms analyzed in this article aren’t unique; we found the same results across our entire client base. Don’t expose yourself or your organization to unnecessary risk.
When you bundle XDR and managed IT with Agio, our team removes that layer of unnecessary risk by delivering maximum agility with no red tape. But don’t stop at just those two. The best defense? A fully unified managed IT, Cyber Governance, and Cyber Operations solution from a single provider.
Have questions? We’re here to help. Talk to us today.
The post If You’re Not Bundling XDR & Managed IT, You’re Leaving Room for Vulnerabilities first appeared on Agio.
]]>The post Cybersecurity Reality Check: If You’re Thinking “A Cyber Attack Won’t Happen to Me,” Think Again first appeared on Agio.
]]>In our recent conversation with a small firm, they mentioned that given their size, they won’t be affected by a cyber threat. But here’s the reality check: cyber-attacks don’t only exist in Hollywood, and the size of your firm doesn’t matter to cyber criminals. In this blog, we will discuss the dangerous misconception that size somehow acts as a shield against cyber threats.
Let’s paint a familiar scene: you’re in the groove, firing off emails left and right, engaging with investors, and keeping the wheels of your firm turning smoothly. Everything seems routine until, out of the blue, an email from a senior executive lands in your inbox. Without a second thought, you click to open it, expecting business as usual. But in the blink of an eye, your screen freezes, a chilling message flashes in front of you, and you realize you’ve fallen victim to ransomware. Yes, you read that right. It’s not just something you see in the movies; it’s a real-life scenario that happens all the time.
You see, cyber attackers aren’t playing by any rules. They’re constantly evolving, getting smarter, and finding new ways to exploit vulnerabilities in our digital defenses. And here’s the kicker: they couldn’t care less about your level of tech expertise. They’re equal-opportunity intruders, targeting firms big and small, seasoned pros and tech novices alike. It’s a scary reality, no doubt about it. But it’s the world we live in—a world where cyber threats are not just plot twists in a movie script but genuine dangers waiting to catch us off guard.
The next logical question is “What on earth can I do to protect myself from these cyber-criminals?” Don’t worry, Agio’s got you covered. Here are some practical steps you can take to protect your digital infrastructure and keep those cyber intruders away:
Cyber-attacks are no laughing matter, and they target everyone, regardless of the size or scope of your firm. The key to staying safe in the digital world? Simple—stay vigilant, stay informed, and take proactive steps to beef up your security measures. Don’t wait until it’s too late to take action.
At Agio, we specialize in keeping businesses safe from digital threats 24x7x365. With our cutting-edge XDR services and round-the-clock monitoring, you can have peace of mind that your data is in the right hands.
So, what are you waiting for? Contact us today to pave the way for a safer, more secure digital future.
The post Cybersecurity Reality Check: If You’re Thinking “A Cyber Attack Won’t Happen to Me,” Think Again first appeared on Agio.
]]>The post Microsoft 365 Copilot: Spilling the Tea on What’s Good, Bad, and Just Plain Ugly first appeared on Agio.
]]>By tapping into the power of large language models (LLMs), harnessing Microsoft Graph data, and leveraging the vast knowledge base of the internet, M365 Copilot offers users unprecedented efficiency and collaboration. But it’s not just about getting things done faster; it’s about empowering individuals and teams to unlock their full potential, tackle complex challenges, and drive meaningful progress.
Built on Microsoft’s approach to security, compliance, privacy, and responsible AI, Microsoft 365 Copilot represents the company’s commitment to driving innovation while protecting user interests. With features like Copilot Studio, users can easily connect to data, orchestrate sophisticated logic, and exercise IT manageability and control.
But here’s the tea: Using M365 Copilot involves more than meets the eye. You’ve got to consider everything from privacy concerns to ethical guidelines and accuracy in AI output. It’s all about understanding its capabilities and potential negative impacts. In this blog, we’ll explore the good, the bad, and the ugly of Microsoft 365 Copilot, shedding light on its benefits and potential pitfalls. Let’s start with the good news.
Imagine this: you’re buried in code, grappling with a tangle of functions and variables. You decide to put Microsoft 365 Copilot to the test, and lo and behold, it’s a coding superhero. Or perhaps you’ve just emerged from a marathon meeting with a laundry list of action items, and M365 Copilot swoops in to summarize it all, sparing you from the dreaded hand cramps that come from notetaking.
But those are just a few examples. Let’s dive into the benefits of this innovative tool.
Now, let’s tackle the less-than-perfect side of M365 Copilot. For all its benefits, the service isn’t immune to a few bumps in the road. Your journey will not be a straight path, and you might certainly encounter a few obstacles along the way. From privacy concerns to accuracy issues, some aspects warrant careful consideration. Let’s delve into the challenges.
Lastly, as groundbreaking as Microsoft 365 Copilot may be, the service comes with its fair share of tough realities. From ethical quandaries to financial hurdles, these are the gritty details that require some serious contemplation. Here are the details on the less glamorous side of the M365 Copilot journey.
Let’s break down what we’ve learned about Microsoft M365 Copilot, the good, the bad, the ugly, and how to handle it all:
As we conclude our journey examining Microsoft Copilot, one thing is clear: the future of productivity is within reach, and Agio is here to guide you every step of the way.
At Agio, we strive to always keep firms informed about emerging technologies, assisting in their proper implementation with a focus on security. By deploying M365 Copilot across the Microsoft 365 suite—encompassing Word, Outlook, Excel, PowerPoint, and Teams—we can help your organization understand Copilot’s full potential. With the right implementation of the service, you can focus less on your routine IT tasks and daily operations, giving your internal staff more time and bandwidth to focus on more complex tasks.
But that’s not all, our scope extends beyond mere implementation; we’re here to help assess your IT infrastructure to make sure we don’t hit any bumps in the road, ensuring a seamless deployment of Microsoft 365 Copilot.
In essence, our M365 Copilot Readiness Assessment is more than just a deployment—it’s a catalyst for organizational transformation. Our experts work closely with your IT department to guarantee a smooth rollout and maximize the benefits of M365 Copilot. Contact us today to find out how we can help you get started with Microsoft Copilot.
The post Microsoft 365 Copilot: Spilling the Tea on What’s Good, Bad, and Just Plain Ugly first appeared on Agio.
]]>The post 7 Questions to Ask Your Provider to Sniff Out If They’re a Microsoft 365 Copilot Bullsh*tter first appeared on Agio.
]]>However, we’re here to empower you with the knowledge necessary to identify these individuals and ensure that you’re partnering with a provider who genuinely understands Copilot. We’ll also outline eight essential questions to ask your provider, or any provider that you’re evaluating, to gauge their expertise. So, if you’re ready to navigate the path towards Copilot readiness and implementation, let’s dive in.
Before we get into the fun part of identifying the Microsoft 365 Copilot bullsh*tters, let’s make sure you’re armed with the proper steps to demonstrate Microsoft 365 Copilot readiness and implementation.
Here’s a breakdown of what you should keep in mind:
Now that you are armed with some of the first steps for determining Copilot readiness, let’s cover eight questions to ask a provider to see if they’re really the expert they say they are.
1. How long have you been actively working with Microsoft 365 Copilot, and how many projects have you completed using it?
When it comes to selecting a Microsoft 365 Copilot partner, experience matters. Asking about the provider’s history with Microsoft 365 Copilot and their track record of completed projects gives you valuable insights into their expertise and proficiency with the tool.
It is crucial to select a provider with a proven track record of using Copilot to deliver successful solutions, as this demonstrates their expertise and ability to use the tool effectively.
2. Can you provide specific examples of how you successfully implemented Microsoft 365 Copilot?
This question aims to validate the provider’s practical experience and success in implementing Copilot.
In choosing a provider, you must seek a partner who can demonstrate a track record of success with Copilot in real-world scenarios. Therefore, you can see their ability to translate their expertise into tangible, measurable outcomes.
3. What unique insights or expertise do you bring to the table when it comes to Microsoft 365 Copilot that sets you apart from other MSPs or consultants?
This question helps gauge if the provider is surpassing industry standards. You seek a provider who exceeds expectations, maximizing the benefits of Copilot. With both you and your provider possessing only basic knowledge, you risk falling behind on the latest features crucial for your firm and teams.
4. Given the recent release of M365 Copilot and its limited availability, how have you managed to stay ahead of the curve in terms of understanding its capabilities and best practices?
Just like having unique insights, staying ahead of the curve with Microsoft 365 Copilot is crucial as far as implementation goes. The last thing you want – or need – is getting everything set up, just to find out your provider missed a key feature that you know your firm could use.
5. Beyond regurgitating Microsoft website content, what value-added services or solutions do you offer to clients seeking M365 Copilot readiness and implementation?
Beyond surface-level information, discovering the value-added services offered by M365 Copilot providers is crucial for selecting the right partner.
Choosing a provider that goes beyond the basics to offer value-added services will drive creativity and innovation within your business framework.
6. How do you ensure that your team stays updated on the evolving features and functionalities of Microsoft 365 Copilot, considering its dynamic nature and frequent adjustments by Microsoft?
Inquiring about a provider’s strategies for staying updated on Copilot’s features and functionalities is essential given its dynamic nature.
Partnering with a provider committed to ongoing learning and adaptation guarantees that Copilot implementation efforts remain aligned with the latest advancements and best practices.
7. How do you educate your clients about the potential regulatory implications and risks associated with implementing Microsoft 365 Copilot, and what steps do you take to ensure they fully understand the privacy and security considerations involved?
Understanding how a provider educates clients about regulatory implications and privacy considerations associated with Copilot is crucial.
Choose the MSP that prioritizes client education and transparency regarding regulatory implications and privacy considerations to foster a collaborative and compliant Microsoft 365 Copilot journey.
Don’t just accept a partner’s claims about their Copilot expertise at face value. To make sure you are working with a provider who truly understands and can effectively leverage this complex emerging technology, you must ask these questions to find all those who both talk the talk and genuinely walk the walk.
Take the bull by the horns and conduct a thorough vetting process to avoid falling victim to empty claims and baseless assertions. Copilot’s potential is immense, but only when it is in the hands of a provider who has demonstrated a deep commitment to understanding its intricacies and applying it to deliver real, measurable results for their clients.
Do not settle for anything less than a partner who can provide concrete evidence of their Microsoft 365 Copilot expertise. Demand specifics, challenge their assertions, and distinguish between the genuine practitioners from the pretenders. Only then can you be confident that you have found a partner who can truly help you harness the full potential of Copilot while proactively mitigating risks.
If you’re ready to roll out Microsoft 365 Copilot, get in touch with our experts today and discover how we can evaluate your IT infrastructure and ensure a seamless deployment of Microsoft 365 Copilot.
The post 7 Questions to Ask Your Provider to Sniff Out If They’re a Microsoft 365 Copilot Bullsh*tter first appeared on Agio.
]]>The post An RIA Guide to Deciphering Managed IT, Cybersecurity Operations, and Cyber Governance first appeared on Agio.
]]>In response to these challenges, outsourcing critical tasks to a Managed Service Provider (MSP) emerges as a viable solution. Yet, as you embark on your search for the right MSP, you’re confronted with a plethora of terms: Managed IT, Cybersecurity Operations, Cyber Governance. Our mission is to demystify these terms, elucidate their interconnectedness, and highlight the benefits of partnering with a provider capable of delivering all three.
Managed IT refers to the practice of outsourcing specific IT tasks and responsibilities for maintaining and managing your firm’s IT Infrastructure, systems and services to third-party service providers. The main objective is to offload the day-to-day management of your IT needs to experts, freeing up valuable time and resources to focus on core investment activities.
Opting for managed IT services can unlock several advantages for RIAs:
Cybersecurity Operations refer to the ongoing processes and activities aimed at protecting your firm’s digital assets, systems, and networks from unauthorized access, attacks, damage, or theft. It is essential to guard sensitive information and maintain the confidentiality, integrity, and availability of data. The key pillars of cybersecurity operations include detection & response, incident response, endpoint detection & response, and a variety of other strategies to fortify against potential threats.
Safeguarding your clients’ assets and maintaining trust in the integrity of your financial services is a main priority for financial advisors within an RIA. To ensure robust protection against cyber threats, RIAs collaborate with IT and security teams on various aspects:
Cybersecurity Governance refers to the framework, policies, processes, and procedures to ensure an organization’s cybersecurity strategy aligns with its overall business objectives. It entails defining responsibilities, managing risk and potential cyber threats, and ensuring compliance with regulators.
For RIAs, implementing effective cyber governance practices is essential for syncing cybersecurity strategies with the firm’s business goals and fosters accountability. This significant principle drives proper cybersecurity management by focusing on the following:
Managed IT and Cybersecurity Operations
Pairing managed IT and cybersecurity operations under one roof not only streamlines your company’s computer systems but also forms an unyielding shield against potential cyber threats. As discussed in a recent case study, “cyber risk increases when you separate IT management and security operation.” Data shows that multi-vender scenarios response time takes, on average, 40% longer to resolve than when services are consolidated on a single team. Therefore, consolidating these services within one vendor is essential to decreasing the response time in detecting, combating, and recovering from cyber-attacks.
Managed IT and Cybersecurity Governance
Managed IT and Cybersecurity Governance work hand in hand to ensure that your IT environment is not only efficiently managed but also secure and compliant with regulatory requirements. Managed IT services provide the technical expertise and resources needed to implement cybersecurity measures effectively, while Cybersecurity Governance sets the overarching framework for managing cybersecurity risks and ensuring accountability across the organization. Together, they form a comprehensive approach to IT management and cybersecurity that helps RIAs mitigate risks, protect client data, and maintain regulatory compliance.
The Power Trio: Managed IT, Cybersecurity Operations, and Cybersecurity Governance
Together, these three components form a cohesive strategy that not only ensures the reliability and security of your technology environment but also enables proactive risk management, regulatory compliance, and strategic decision-making. By integrating Managed IT, Cybersecurity Operations, and Cybersecurity Governance, RIAs can effectively mitigate risks, protect sensitive data, and maintain the trust and confidence of their clients.
Bringing together managed IT, cybersecurity operations, and cybersecurity governance into a unified framework provides a strategic edge for RIAs, fostering seamless collaboration and eliminating the inefficiencies of managing multiple vendors. With cyber threats becoming more and more persistent and sophisticated, the traditional fragmented approach falls short.
It’s more than just passing off issues; it’s about cohesive teamwork to address evolving challenges. Consolidation with the right partner ensures tight integration and coordination, empowering your organization to proactively counter cyber threats. This approach optimizes efficiency by leveraging shared tools, resources, and intelligence while addressing concerns about conflicting interests within the security realm.
The effectiveness of combining managed IT services and cybersecurity operations presents a powerful solution for RIAs, empowering them to optimize IT management, bolster security measures, and efficiently drive their organization forward. Paired with a comprehensive approach to cybersecurity governance, executives at RIAs can lead their firms toward a secure and successful future in today’s ever-evolving digital landscape.
Are you prepared to take the next stride in enhancing your IT infrastructure and bolstering your cyber defense? Reach out to us today to get started.
The post An RIA Guide to Deciphering Managed IT, Cybersecurity Operations, and Cyber Governance first appeared on Agio.
]]>The post Top 5 Reasons Driving Investment Management Firms to Outsource Managed IT & Cybersecurity first appeared on Agio.
]]>These variations in economic conditions demonstrate the need for a thorough review of your current operational strategies. It’s imperative to identify avenues to mitigate financial constraints and adapt to market dynamics, especially as they evolve and get more complex. Moreover, amidst escalating cyber threats and the increasing sophistication of bad actors, protecting your firm’s assets is more important than ever.
It’s not all doom and gloom. As firms evaluate how to best improve operating margins, they’re increasingly turning to outsourced IT models. Specifically, financial firms are leaning on Managed Service Providers (MSPs) to help lower costs without interrupting daily operations or compromising support quality. Here’s how.
Time is money – especially in your fast-paced world. While your internal IT team was hired for their talents, the reality is that many of their hours are spent reacting to daily break-fix requests so your employees can work without disruption. By partnering with an MSP that can implement productivity-driving solutions (and an easy-to-navigate self-service portal), you’ll save your IT team from spending energy on level 1 end-user tasks and requests. When your engineers aren’t performing routine management and maintenance to keep technology up and running 24×7, they’ll be focused on big-picture projects that enable revenue generation.
Firms that offload some or all of their IT needs to an MSP are typically able to reduce their total IT spend. With Agio, we’ve built a pricing model that enables us to progressively lower your cost the longer we work with you. How you ask? By leveraging machine learning and predictive analytics, we’re able to identify and address problems before they impact your team. And when a problem does arise, those same tools enable our team to quickly resolve the issue to minimize disruption. Speed—to resolve issues and fulfill requests—is at the core of Agio’s service commitment to our clients. Over time, this speed fosters trust, grows relationships, and ultimately results in healthier information systems.
Outsourcing your IT and cybersecurity needs to specialized MSPs is an essential strategy for boosting the security of your investment management firm’s assets. By tapping into the expertise of seasoned professionals, accessing cutting-edge technologies, and benefiting from scalable solutions, outsourcing prepares your firm against the incoming more frequent and complex cyber threats, all the while maintaining regulatory compliance. By doing so, you can secure your data while also freeing up internal resources. Your IT staff is less overwhelmed, and your staff can focus on business growth while you are reassured that your information is in capable hands.
If you ain’t first, you’re last. Technology changes as quickly as the markets, so if you’re not up on the latest and greatest, you’ll be quick to fall behind the competition. Staying ahead with a purely insourced IT model means higher overhead costs and large recurring investment in IT infrastructure. Agio pairs artificial intelligence with human expertise to power an outsourced model designed to keep you ahead in an increasingly complex, data-intensive, and intertwined IT and cybersecurity landscape. We have the people, processes, and tools in place to ensure your IT environment is delivered and governed for maximized performance and reliability. Our technology—paired with check-ins from a Customer Success Manager and regular IT and cyber health reporting —empowers you with the service, knowledge and insights you need to keep your firm operating smoothly (and looking smart to investors).
Outsourcing to an MSP like Agio offers a transformative opportunity for IT teams and financial service companies. By trusting the management of IT and cybersecurity operations to a well-equipped and expert MSP, firms like yours can redirect your internal focus on strategic initiatives to drive innovation.
Now, your firm can deliver tangible value that garners recognition from key figures in your business including C-Suites, the boards, and investors. At Agio, we recognize the future of managed services lies in continuous adaptation. That’s why our top priority is to invest in advancing the MSP model. Through our commitment to excellence, we empower our clients to stay ahead of cyber threats and achieve their long-term business objectives.
Learn more about our forward-thinking approach and how it’s reshaping the managed services paradigm: Moving Forward: How predictive intelligence & human brilliance are shifting the managed services paradigm
Editor’s Note: This blog was originally published on January 26, 2023, but has been refreshed for accuracy, freshness, and relevance to ensure it provides the most up-to-date insights and information for our readers.
The post Top 5 Reasons Driving Investment Management Firms to Outsource Managed IT & Cybersecurity first appeared on Agio.
]]>The post Precision Partnerships: Tailoring MSP Solutions for Private Equity Success first appeared on Agio.
]]>A managed service provider (MSP) that deeply understands the private equity industry and integrates resilient IT with defense-in-depth cybersecurity enables firms to consolidate these critical functions, reducing response times and costs while driving performance. With integrated expertise securing sensitive assets throughout investment lifecycles, purpose-built managed services streamline due diligence and post-acquisition integrations, ensure compliance, and maximize returns.
Operational resilience is pivotal in private equity for ensuring risk mitigation and value creation across portfolios. However, firms often face challenges finding specialized expertise in managed IT and robust data protection. High turnover and a shortage of skilled engineers with private equity experience make these resources expensive to retain.
More private equity firms are turning to MSPs to address these challenges. Partnering with an MSP provides improved access to industry knowledge, specialized services, enhanced security, increased uptime, and scalability. The key is selecting someone who combines an in-depth understanding of private equity with extensive IT and cybersecurity capabilities.
Consolidating cybersecurity, IT services, and governance under one specialized MSP can streamline security and technology management. Our data show that response times are up to 40 percent slower in multi-vendor environments. On the other hand, partnering with Agio for integrated cybersecurity and managed IT decreases the likelihood (by up to 80%) of vulnerabilities escalating into security incidents by up to 80%.
With substantial experience serving alternative investment clients, Agio stays informed on emerging issues to take a proactive approach. By getting ahead of potential problems, we can prevent many disruptions altogether. When unexpected issues do occur, our teams leverage deep expertise to diagnose and address them quickly, minimizing disruption.
As a private equity firm, securing unstructured data poses immense challenges. Unlike data found in databases, unstructured data in emails, documents, and presentations is inherently difficult to control and safeguard. Frequent external sharing and compliance requirements around access controls and auditing complicate the issue.
A specialized MSP can offer custom-fit solutions that match the intensive data-sharing private equity firms like yours deal with daily. Agio creates secure digital workspaces, allowing you to keep close tabs on document access across deal partners – whether those are your team members, investors, lawyers, or advisors. You determine who sees what and when.
We integrate critical security protections, too, like access controls, endpoint security, firewalls, and round-the-clock security operations center (SOC) monitoring. That way, your firm stays compliant, but parties you actively work with can still conveniently access what they need through well-managed portals during deals.
By leveraging managed services expressly built for private equity’s concentrated data risks, you uphold integrity across your sensitive documents and maintain trust among investors and regulators alike.
Your portfolio companies are as integral to your success as your own firm. Constant management of active portfolio companies and new corporate targets presents unique cyber risks that an adept MSP can help address. Agio has extensive experience working with portfolio companies, managing their infrastructure, and implementing cybersecurity governance programs to help mitigate the inherent risk in your investments. We embed security-by-design into acquisition lifecycles via assessments, due diligence, and post-purchase integrations, putting guardrails around target investments.
Before moving forward with potential deals or immediately upon acquiring a new company, your MSP should work closely with you to establish risk and present solutions for unified governance. Our data-centric risk assessment helps identify and mitigate risk for potential investments. We identify gaps by weighing your firm’s sensitive information with vulnerabilities in a target company’s configurations, policies, and controls.
Post-acquisition, the right MSP further benefits your firm by designing ongoing company security roadmaps to align with evolving expansion strategies. By quickly addressing any outstanding policy or technology risks, Agio shores up security foundations. Critical operations like conventional IT support and security monitoring free your staff to work on higher priorities.
In private equity, optimizing ROI hinges on the synergy of a robust IT infrastructure and stringent data security measures. Using the same partner to manage both is a strategic move. Bringing these two critical functions under one roof reduces the threat surface area, avoids sluggish response times, and improves efficiency and accountability throughout your firm. Agio’s extensive experience with private equity ensures that you have the right solutions for the seamless integration of infrastructure and cybersecurity.
As your advisor, Agio takes a deeply consultative approach to address private equity’s unique technology priorities throughout the investment lifecycle. We thoroughly evaluate current IT infrastructure and assets across portfolio companies, highlighting optimization areas tied to business growth strategies, and craft multi-year roadmaps to maximize efficiency, mitigate risks, protect the value of your investments, and, ultimately, deliver superior returns to investors.
Meanwhile, our comprehensive cybersecurity controls safeguard sensitive financial data, investor information, and intellectual property, mitigating the risk of data breaches and associated economic losses. By preventing costly security incidents and maintaining investor trust, you protect the value of your investments and preserve your reputation in the market, ultimately driving higher ROI.
As private equity firms acquire high-growth startups and integrate diverse portfolios, data protection complexity and infrastructure scale pressures multiply exponentially. The right managed service provider is an invaluable accelerant uniquely positioned to transform these technology burdens into strategic advantages.
A top-to-bottom provider like Agio integrates managed IT services and cybersecurity to streamline post-deal integration processes, reduce downtime, and minimize disruption to portfolio companies, ultimately enhancing value creation and investor returns.
With our proven methodologies purpose-built for private equity, you know your sensitive assets and data, as well as portfolio infrastructure and controls, remain secured and compliant, enabling growth. We drive consistency, resilience, and maturity firm-wide; you successfully navigate the intricacies of mergers, acquisitions, and divestitures.
Let us help accelerate your success. Contact us today.
The post Precision Partnerships: Tailoring MSP Solutions for Private Equity Success first appeared on Agio.
]]>The post Enhancing RIA Operations: The Case for Outsourcing Managed IT Services first appeared on Agio.
]]>With such diverse responsibilities ranging from those of a Chief Operations Officer (COO) or Director of Operations to overseeing compliance and IT functions, your workload is undoubtedly substantial. However, by partnering with the right Managed Service Provider (MSP), you can effectively lighten the load while optimizing operations and maintaining your competitive edge.
Read on as we delve into how some of the major challenges RIAs face can be alleviated by outsourcing managed IT services to a leading MSP like Agio.
Most RIA executives like yourself aspire to operate in a state of seamless efficiency, where your firm’s IT infrastructure is robust, compliance tasks are effortlessly managed, and resources are utilized optimally to drive growth.
However, several factors often hinder you from achieving this ideal state. These include:
These are just a few of the many factors that are potentially inhibiting your firm and RIA IT infrastructure. To solve these problems, consider reevaluating your outsourcing strategy.
When facing these obstacles holding you and your firm back from growth, outsourcing is your best bet. Partnering with the right MSP grants your business cost savings, access to financial services expertise, and increased flexibility to focus on core activities. The right MSP can fill your resource gaps, alleviating burdens for executives and empowering IT staff to focus on driving business growth and seizing new opportunities.
Agio, as your trusted MSP, understands the specific challenges you face. As a consolidation of managed IT and cybersecurity services, Agio goes beyond “just IT” and offers an approach that includes dedicated tech providers with a deeper bench of cyber services. As the MSP to a $800 million RIA firm, Agio is equipped and prepared to carve out solutions for your firm. With Agio as a part of your team, you will no longer have gaps in your service, as the 24x7x365 services will allow you to be informed and secure.
Let’s dive deeper into the benefits of outsourcing managed IT services:
Outsourcing managed IT services offers an opportunity to overcome resource limitations and capitalize on operations. By leveraging Agio, you will enhance RIA’s IT infrastructure, reduce the risk of errors, and empower your internal IT staff to contribute more effectively to your business growth and development.
Agio stands out as the top choice for sophisticated investment managers, and it’s worth noting that we’re also a preferred partner of Schwab. Agio offers SEC Cybersecurity Governance Program for proactive cybersecurity corresponding with SEC regulations.
With Agio, you have both integration and coordination, pushing your organization ahead of cyber threats. The goal is to provide peace of mind for your data, your people, and your reputation. Contact us today.
The post Enhancing RIA Operations: The Case for Outsourcing Managed IT Services first appeared on Agio.
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