Codestone

Category: Support & Managed Services

Cazenove Capital Management is set to benefit from greater business flexibility after signing a new outsourced IT agreement.

The investment and wealth management company has agreed a five-year deal with Advance 365 that will see it outsource IT functions such as data centre management, network monitoring, disaster recovery and application hosting.

Its own internal IT team has been retained and will continue to define the financial firm's overall corporate computing strategy.

According to Cazenove Capital, it had considered continuing to manage and host its IT infrastructure in-house, but decided that an outsourced IT arrangement would offer better strategic and economic value.

"An outsourced IT provider can deliver an evolving and flexible service and due to economies of scale, it should also be able to provide high service levels very economically," explained Stewart Norwood, director and head of IT at the firm.

Last week, it was announced that Marks & Spencer will also be outsourcing many of its IT functions as part of a bid to improve adaptability and make the company less susceptible to disruption.

Posted by Jamie Rees