Solutions for
Financial Services & Insurance

According to the InformationWeek market study, automation tops the list for IT leaders in financial services. Where are you in your automation journey? Download State of ITSM in Financial Services.

State of ITSM in Financial Services

TeamDynamix for the financial services and insurance community.

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Financial Services Leaders Seek ITSM Modernization

With the advent of more technology and a need for faster response time, there are increased pressures on the IT service delivery team. These pressures and more are creating stress on IT Service Management (ITSM) technology in the financial sector.

 

What are IT leaders in financial services thinking about when it comes to improved ITSM tech and how will they innovate within this function?

ITSM for Financial Services

43% of IT leaders are targeting manual processing as top priority.

ITIL Change Management

There is an increased focus on ITIL-aligned IT Service Management platforms.

Stay Ahead with Automation

IT leaders are opting to move to no-code automation platforms to evolve quickly.

TeamDynamix for Financial Services

Modernization of ITSM/ESM for Financial Services & Insurance

Whether it is to improve the use of AI, bolster ESM, or further goals for ITSM automation, many financial services simply do not have the technology stack suited for these goals. More than half of these organizations are currently utilizing systems that are five or more years old. And just a quarter of these firms say that their ITSM platform serves their business needs.

 

Financial organizations will need to modernize their ITSM platforms to support their goals for the next 12 to 24 months. This is a big growth opportunity for financial companies seeking to improve their service management capacity and effectiveness.

Automate Manual Tasks

Financial services IT teams are under a heavy workload, handling hundreds of applications and thousands of tickets per month at many organizations. Most of these organizations are required to handle that burden with very lean teams. Yet, the majority are spending 5-1o hours a week (2-3 months a year) on scut work like onboarding/offboarding, name change updates, department changes and software provisioning. Some of the most hated jobs include password resets, user management and IT ticket cleanup.

 

These tasks are not only inefficient, but they also cause high turnover due to job dissatisfaction that exacerbates ITSM issues with technician churn. More than half (53%) of organizations say they struggle to retain and hire the best talent.

ITSM automation with enterprise integration

Automation tops the list of priorities for IT leaders in Financial Services.

IT teams in financial services and insurance are being called upon to deal with an influx in demand without sufficient automation or optimized workflows. No-code platforms can help.

No-Code Automation Reduces Resource and Budget Drain

When we consider a ‘day in the life’ for IT teams, we may not imagine the amount of manual processing. Many financial services organizations recognize that they’ve got to roll up their sleeves for important modernization efforts to get their ITSM function in line with business priorities for digital transformation. In addition to automation, these organizations are looking at areas like improved self-service, AI, Enterprise Service Management (ESM) and updates to their underlying ITSM platform to support more modern ITSM processes. 

ITSM Automation for Financial Services

  • Password resets can be automated by leveraging a request portal or a conversational AI bot
  • Software provisioning does not need to take weeks or days, the process can be automated by integrating systems and creating workflow
  • Name and address change requests can be automated using custom forms, enterprise integration and approval workflow
  • Equipment replacement requests can leverage integration to asset and order systems with custom forms
  • Onboarding can take days but with automation, this can be reduced to minutes with enterprise system integrations

Embracing Enterprise Service

Many financial services and insurance leaders want to create a force multiplier for their ITSM investments by porting over the processes and the technology they use in this discipline to help other business functions service their stakeholder requests. This typically includes functions like HR, facilities and legal. 

Enterprise Service a Priority

ESM is another huge priority tied for first place on the ITSM trends list. 

Enterprise Connectivity

ESM can be supercharged through enterprise system integration.

TeamDynamix was founded in 2001 in Columbus Ohio
ITSM self-service portal

Drive Self-Service Adoption

Many financial organizations already strive to utilize self-service processes to ease some of the IT team resource constraints while delivering faster service. 

 

However, fewer than half say that these portals are highly adopted and/or answer users’ questions appropriately. So, while the infrastructure for self-service is widespread, it isn’t necessarily well-implemented.

Easy to Search

Self-service adoption increases with improved KB search capabilities

Custom Forms and Workflow

Portals with custom forms and automation expedite resolution

Conversational AI

Leverage conversational AI for enhanced self-service experiences

The financial services sector ultimately wants to be on the bleeding edge.

Deborah Rojas

CIO

Charter Oak Financial

InformationWeek Market Report
State of ITSM in Financial Services

Are you looking to better understand the challenges and opportunities facing IT leaders in financial services and insurance?  Download the State of ITSM market study from InformationWeek.

State of ITSM in Financial Services

CUSTOMER STORY

Gratz Bank improves change control and expands for enterprise service.

ITSM for change control

CUSTOMER STORY

Frontwave adopts a digital first strategy for IT service.

ITSM for Financial Services

CUSTOMER STORY

Charter Oak drives innovation with enterprise automation and integration.

ITSM for Financial Services

TeamDynamix has allowed us to take ownership of IT Service Management.

Mark Yerger

CTO

Gratz Bank

ITSM Quadrant Vendor Rankings Info-Tech Software Reviews
MARKET REPORT

Info-Tech ITSM Vendor Rankings and Quadrant

Whether you are looking to level up an older ticketing platform, or you are considering migration to a no-code platform, you will benefit from this comprehensive report which looks at business value, ease of use, strategy and innovation across ITSM vendors.

SOLUTIONS FOR FINANCIAL SERVICES

TeamDynamix Unified No-code Platform

ITSM

Life-cycle IT Service Management with support for ITIL, assets, change, self-service, conversational AI and automation.

ITSM Automation

ESM

Make enterprise service management a reality with a single platform across IT, Facilities, HR, Marketing and more.

iPaaS

Let automation take off with no-code enterprise integration and workflow.  Embrace digital transformation.

Chat

Change the way you chat with conversational AI – natural language processing with automation.

PPM

Tackle projects of any size with a platform that is as simple or as sophisticated as you need it to be.

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TeamDynamix awards & accolades.

G2 Higher Performer
InfoTech Emotional Footprint
Gartner ITSM quadrant customer choice
InfoTech Quadrant
G2 Best Support

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