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In an increasingly digital world, professionals in the banking, finance and legal industries face many challenges, especially considering the heavy compliance and regulatory environment in which they operate. Efficiency, collaboration and security are of paramount importance. To meet these demands, it is crucial for businesses in these industries to leverage cutting-edge technologies.

A transformative approach organisation can make is to move from legacy solutions to Microsoft 365, which offers significant benefits for these specialised industries. Our team of experts considered the specific benefits finance and legal firms can get from making the move. 

Benefits of Microsoft 365

Security

In the finance and legal sectors, safeguarding sensitive data is non-negotiable. Microsoft 365 offers a range of advanced security features, such as data loss prevention, threat protection, and identity management.

Financial organisations process a wealth of personal information making them a prime target for hackers. Data breaches not only cause financial losses but can impact on the reputation and perception of the brand.

Clients of financial services companies expect expert level of security when it comes to their sensitive data. Microsoft 365 provides security features and add-ons to ensure that your environment is secure.

The built-in Mobile Device Management (MDM) in Microsoft 365 helps you secure your employees mobile devices (like iPhones, iPads, Androids, and Windows phones). Organisations can create and manage device security policies and remotely wipe a device.

Features such as Multi-factor Authentication (MFA) add a second layer of security to user sign-ins and requires the use of more than one verification method.

Tools like Advanced Threat Protection (ATP) can prevent, detect and respond to sophisticated ransomware attacks before they get into your mailbox, providing additional defence for businesses.

By using security and compliance technologies from Microsoft 365, institutions can operate in a more secure and compliant manner with robust security controls to protect data, identities, devices, and applications from various operational risks, including cyber security and insider risks. Microsoft 365 provides a fundamentally secure platform on which financial services organisations can achieve more while protecting their company, employees, and customers.

Productivity

In a competitive industry, financial organisations need to drive technology innovation, exceed customer expectations and improve transparency. To do this, a productive and engaged workforce is key.

Microsoft 365 enables financial businesses to optimise productivity. Here are some of the ways Microsoft 365 boosts efficiency. 

Easy collaboration, on the go: By using Microsoft 365, your team can work from any device, from anywhere, with access to all their documents whilst still being connected and collaborating with their team. Microsoft 365 provides a seamless experience across devices. Whether on a desktop, laptop, tablet, or smartphone, the consistency of user experience ensures productivity isn't compromised.

Effective communication: Microsoft Teams has revolutionised workplace communication and collaboration. With features like chat, video conferencing, file sharing, and integrations with other Microsoft apps, it's a comprehensive solution for internal and external communication. Secure and effective communication is important for finance and legal firms and Microsoft Teams enables this.

Reduced downtime: Downtime can significantly impact a business. With Microsoft 365 everything is in the cloud and accessible on multiple devices, meaning employees will always have access to their work.

Reduced learning curve: Microsoft Office has been a prominent business tool for decades. Most people are familiar with Excel, Outlook and other programs in the Office suite. This significantly decreases the training required when transitioning to Microsoft 365.

Reduced cost

Microsoft 365 offers a scalable pricing model, allowing firms to pay for the services they use. As organisations grow, they can easily add or remove licenses, ensuring that resources are optimised. With no need for on-premises infrastructure and reduced IT management overhead, the cost-effectiveness of Microsoft 365 is evident.

With Microsoft 365 you also don’t need to worry about upgrade fees, as you will automatically receive all features and functionality upon release.

Conclusion

The transition to Microsoft 365 isn't just a technological upgrade; it's a strategic move towards enhanced productivity, collaboration, and security. For finance and legal firms, where precision and confidentiality are paramount, Microsoft 365 provides an unparalleled suite of tools. With its seamless integration, robust security features, and advanced collaboration capabilities, Microsoft 365 can revolutionise how these industries operate in the digital age. 

Our team of experts can help you embrace the future of work and propel your firm to new heights with Microsoft 365. We take the time to understand your organisations requirements, develop a plan for migration and ensure you have access to all the applications you need in a more secure and productive environment.