In a world where trading firms always need to be one step ahead of the game in the technology race, it is becoming increasingly challenging to balance the demands of innovation with core trading business activities. A common solution is to look towards getting more hands on deck - but is staff augmentation always the right solution?
In many cases trading firms are finding that this challenge can actually be better met by taking advantage of professional services consulting. When faced with this decision, the key lies in asking yourself three key questions:
- Is the project you are embarking on part of your firm's "core business"?
- How much time would it take for your current team to deliver compared with a professional services organization?
- What kind of costs are associated with staff augmentation vis-à-vis professional services?
Combined, your answers will determine the path that is most likely to benefit your firm for the project in question, as detailed by Kirk Kvist, AVP Professional Services at Itiviti.