CASE STUDY: THREEFOLD
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Ten years is a long time in any industry, and finding the right partners to help you navigate a decade of change is something rare, as Auckland based finance services company Threefold can attest to.
Threefold first opened its doors in 2014, and Optimus was brought in from the start as IT Service Contractor. Manager at Threefold Joanna Mearns was part of the original team that founded the business. Joanna remembers the conversations that were had about what was needed to launch a brand-new brokerage business.
“When we set up Threefold, the IT support was built into the business structure. We had worked with Optimus before through other businesses. Their exceptional service quality left a lasting impression. As we ventured into establishing our new company, Optimus was the logical choice. Their commitment to continuous improvement and innovation ensures that we are equipped with the latest and most efficient IT solutions.”
Those solutions include a core service package that consists of Remote Management, Monitoring (performance, virus/malware protection, disk space and health, network performance, security state), common application updates, regular maintenance on all devices, and asset tracking.
On top of this base agreement, Optimus manage Cyber Security, Cloud and IT hardware.
The initial services provided to Threefold, described by Optimus as a ‘break fixed’ service contract, was a common client service at the time. This is where IT support is provided to resolve any issues as they arise – like a helpdesk – whilst also managing the IT infrastructure and server environment.
Within the finance industry protection of clients’ data takes a high priority. The non-negotiables for Threefold when seeking support in this area were:
Robust Data Security Measures: Implementing advanced security protocols to ensure the confidentiality, integrity, and availability of client data at all times.
Regular Security Audits and Assessments:
To identify and mitigate potential vulnerabilities promptly.
Disaster Recovery and Business
Continuity Plans: Ensuring minimal disruption and quick recovery in the event of a data breach or loss.
When the time came, Optimus helped Threefold transition from an onsite server infrastructure into the Cloud, with limited network infrastructure.
Threefold’s financial services include Mortgages, Insurance, and Kiwisaver advice. The strict industry compliance rules and legislative changes in the last decade has meant more changes in IT support too.
As part of the finance industry, they are mandated to retain client data for a minimum of seven years. Because of this, one of Threefold’s more tailored services with Optimus is the implementation of a litigation hold on all mailboxes, ensuring the retention of all mail—even if deleted—for a specified period. This measure serves as a safeguard, ensuring that Threefold can respond effectively to legal inquiries, audits, and regulatory reviews, thereby maintaining a robust stance on compliance and data integrity.
“It’s a critical requirement for our industry. This practice not only aligns with our internal policies but is also a regulatory necessity.”
Seven years adds up to a lot of customer information that Threefold needs to protect. The combination of ample storage space provided by Microsoft’s Cloud solutions, along with Optimus’ expertise in data protection, positions Threefold well to manage and protect the vast customer information intrinsic in the mortgage sector.
“It ensures that we are not only meeting our current data storage needs but are also well-prepared to adapt to changes in legislative and compliance requirements, safeguarding our clients’ information and maintaining their trust.”
Cyber security is also a critical area for Threefold. “Our concern for cybersecurity stems from a clear understanding of the stakes involved,” says Joanna. “As cyber threats become more sophisticated, the potential for damage escalates, ranging from financial loss to irreparable damage to our reputation and client trust.”
This concern is amplified by the constant coverage of cyber incidents in the news, highlighting the pervasive nature of the threat and its potential to disrupt business operations.
Optimus’ comprehensive security awareness training programme is designed to ensure all staff members are not only aware of the potential cyber threats but are also equipped with the knowledge and skills to mitigate them. Regular monitoring and assessments promote better engagement and understanding, ensuring that the training is not just a formality but an effective tool in Threefold’s cybersecurity arsenal.
Optimus also simulate phishing emails, to test staff members’ vigilance and response capabilities. “The simulations have helped identify potential vulnerabilities within our team and act as a continuous learning exercise, reinforcing the training and keeping staff alert to the ever-present threat of cyber attacks.
“Having a cyber security training programme is now a requirement for our industry – having that already in place has been amazing,” says Joanna. “The training they do is really good, and the staff enjoy doing the online modules, which really helps.”
Threefold’s management team get real value from their technology strategy meetings with Optimus, as it aligns with their commitment to staying ahead of the curve in protecting their business systems and their client’s data from security breaches.
“Optimus serve as our IT advisors, asking the right questions to get an understanding of what we need and then coming back with different options,” Joanna explains. “We might present a need, but not really know what’s possible, and also Optimus will not know certain industry specific needs until we enter a discussion and they become apparent.”
The recent (2023) implementation of a Zero Trust policy was a result of one of these consultations.
“Last year we were asking questions around increasing security, and Optimus made some recommendations. They presented the Zero Trust option, and we went for it.”
A Zero Trust policy requires explicit approval for software downloads and installations, safeguarding against malicious software installations from compromised websites. Threefold have 15 applications they use on their systems. Anything else triggers an alert with Optimus. Anything that activates an execution file that is not from a whitelisted app, even a simple update, is ringfenced, effectively isolating it from the system.
“This proactive approach not only fortifies our defences against internal and external breaches. It also reinforces customer trust by ensuring the utmost security of their sensitive data and gives us additional peace of mind,” says Joanna.
Today, Threefold’s commitment to Optimus remains unwavering for several compelling reasons according to Joanna. “They offer a comprehensive suite of IT solutions, effectively making them a one-stop shop that caters to all our technological needs.
“Optimus are always evolving their offering – we notice little things they implement on their side, for making the client experience smoother, and there are all sorts of safety nets built into their systems. For instance, they’ll tell us about a computer that hasn’t been switched on for a while or not updated. If a team member’s data storage is approaching capacity, they will action it before it causes issues.”
What truly sets them apart for Threefold, however, is their forward-thinking approach. “Optimus is not just reactive; they are exceptionally proactive, consistently staying ahead of the curve.
“This alignment with our need for evolving IT support that grows with us is why we chose Optimus then, and continue to choose Optimus now.”
Seamless – The integration of advanced solutions like Microsoft 365 into our operations was made effortless by Optimus, ensuring smooth continuity in our work processes.
Supportive – Their unwavering support across training, troubleshooting, and strategic advice has been critical in navigating technological advancements and security challenges.
Innovative – Optimus consistently introduces cutting-edge technological solutions, such as the Zero Trust policy, demonstrating their commitment to keeping us ahead in cybersecurity measures.
Reliable – Their consistent reliability in delivering timely and effective solutions has cemented our trust, knowing we can depend on them for any technological need.
Adaptable – Their flexibility in tailoring solutions to fit our unique needs over the years showcases their commitment to our evolving business and technological landscape.
“We’re paying the same for our IT as we were previously, but now there’s an actual improvement in our systems. We’re getting bang for our buck”.
CAROL ROBERTSON
OFFICE MANAGER ADVANCE SCAFFOLD
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