December 16, 2021

Why Your Firm Should Be Investing in Best-of-Breed IT

While the lay person might think best-of-breed means winning the breed group at a dog show, the definition is more well-known in the IT industry.  It is important to understand what best-of-breed entails, and to understand why it is advantageous for C-suite executives to invest in best-of-breed IT. Technopedia defines best-of-breed as “[t]he best system in its referenced niche or category.” Oxford Academic defines a best-of-breed system as a “standalone system built on its own database and completely customized to meet the needs of its end users.” Oxford Academic further explains, as specialized applications have increased, specialized niches have also developed.  


What are the Benefits for Employees of Firms Investing in Best-of-Breed IT?

New Year’s resolutions are sometimes a challenge to follow through with due to a whole host of reasons. However, a manageable resolution for C-suite executives and IT professionals is to provide first-rate IT solutions to their employees and firms. Investing in superb technology is beneficial in innumerable ways to firms overall, and employees specifically. As the transition to more flexible and remote work options continues, it is juxtaposed with increased cybersecurity risks. Below are some of the benefits of investing in best-of-breed IT.

  • Attract and retain superior employees with best-of-breed IT. Outdated technology can decrease a firm’s ability to attract and retain high-quality talent, which is especially concerning in the current tight labor market. A survey titled the State of Software Happiness Report 2019, was conducted in which more than 1600 workers were interviewed to determine the impact software has on an employee’s happiness and retention. The study found more than half of all employees are unhappy at work because of the software tools they are using. About a quarter of employees said the software they are using caused them to consider leaving their jobs. Further, more than one in eight employees indicated they have quit a job because of mismatched software, and 95% of employees said they would be very satisfied or satisfied with better software tools.
  • Provide employees access to new technology. According to a study completed by Adobe titled the Adobe Workfront’s State of Work 2021, 32% of employees said they left a position because their employers’ technology was a barrier to their ability to do good work and almost half said they would be likely to leave a job if unhappy or frustrated with the technology used at work. 
  • Provide employees choices of tools to achieve positive outcomes. Research suggests it is important to trust employees to know the right IT tools for themselves in order to be successful in achieving the goals of the business they are involved with. Offer employees the opportunity to have input into the best-of-breed options right for them so they can be successful in helping achieve the desired outcomes necessary for a firm’s success. 
  • Proactively support remote and flexible work environments. As more people work remotely, IT professionals are shifting from “reactively supporting telecommuters to proactively empowering them.” Employees are requiring access to hardware, software, and cloud services to effectively work remotely. 
  • Offer employees manageable cybersecurity measures. A 2020 global study conducted by the Ponemon Institute and reported by IBM, researched various businesses’ effectiveness in preparing for and responding to cyberattacks. The study found that businesses have slowly improved in their ability to “plan for, detect and respond to cyberattacks over the past five years, [however,] their ability to contain an attack has declined by 13% during this same period.” Respondents to the survey cited their security responses were harmed in part by the use of too many cybersecurity tools and a lack of specific instructions for common cyberattacks. Best-of-breed technology is vital to the success of employees, whether working in a remote locale or in an office. However, what are the benefits of best-of-breed IT solutions for C-suite executives and IT professionals?

What are the Benefits for Executives and IT Professionals of Investing in Best-of-Breed IT?

There are a myriad of advantages for executives and IT professionals in choosing best-of-breed IT. Some of the benefits are:

  • Increased technology encourages innovation. Advanced best-of-breed technology helps firms solve complex problems and develop enhanced business strategies.  
  • Expectations of clients have increased. According to the Harvard Business Review, clients expect more than a seamless digital transaction. Rather, as companies have clients’ personal data, they want anticipatory and personalized experiences. Using best-of-breed IT helps support and safeguard the customers’ increased expectations.
  • Specialized qualities of best-of-breed IT offers firms more in-depth tools and functionality. As described by Workforce.com, the specialized functions of best-of-breed IT allows for businesses to maximize performance within a particular niche.
  • Desire to maintain best-of-breed IT status requires frequent software updates by the vendor. Firms investing in best-of-breed IT will benefit from the continued software updates necessary for the vendor to retain the ranking of best-of-breed. 
  • Flexibility and scalability are qualities of best-of-breed IT, designed for the clients’ niche and needs. Best-of-breed options are able to grow with the firm’s needs and are flexible to change and implement.

Investing in best-of-breed IT solutions is an important decision for C-suite executives to make; however, it will pay off in the long term due to its innovative platform and enhanced security measures for the increasingly digital world.

How Cetrom is a Best-of-Breed IT Choice for Firms

There are numerous reasons firms should invest in best-of-breed IT solutions. Increased employee satisfaction and performance fostered by best-of-breed IT solutions will create positive outcomes for C-suite executives. Investing in best-of-breed IT is one resolution C-suite executives can definitely keep! 

Cetrom is considered one of the premier providers of cloud expertise for C-suite executives of accounting firms; particularly because their niche is focused exclusively on CPA firms. Cetrom understands CPA firms’ specific needs and hosts accounting-specific applications. Cetrom’s proven cloud solution provides best-of-breed cybersecurity with a multi-level system utilizing a preventive and predictive approach which allows C-suite executives the peace of mind to know their employees can effectively and securely work from an office or a  remote location.

Contact Cetrom today to learn more about how we can assist you with your decision. 

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