What Dynamic Network Services can mean for retail and financeBy Steve Coakley,
Expectations have never been higher
For both retailers and financial sector organisations, the business environment gets tougher every year. Data consumption keeps increasing. Customers have come to expect a total digital experience — and competition is through the roof.
What’s more, there’s the constant threat of cybercrime to worry about and plan for. As well as the pressures of new regulations like GDPR and MiFID II.
As a result of all this, companies in both retail and finance need to digitally transform, to constantly and consistently update their IT infrastructure in order to keep up.
The question is, is there a solution that can offer all this to both industries? The short answer is yes — Dynamic Network Services. For the longer answer, read on.
The benefits of Dynamic Network Services
Dynamic Network Services use technology like Software-Defined Wide Area Networks (SD-WAN), to bring speed, agility, security, flexibility and compliance to a network environment. All in a cost-effective way, to save you time and money.
It’s worth noting here that you can treat Dynamic Network Services in two ways. As a DIY project or as a managed service. If you decide to take it on yourself, you need to be aware that although the final service is simple, the road to it is more complicated. It requires a skilled IT team, tying-together underlay and overlay networks and protecting an expanded security perimeter. Managed services, from an experienced service provider like BT, on the other hand provide more of a balance between access to the right technical expertise and the simplicity of user-controlled interaction.
Why finance and retail need Dynamic Network Services
Overall, Dynamic Network Services is a step towards digital transformation that would benefit any organisation in any industry. But retail and finance stand to gain in a variety of unique ways.
1. Quick connectivity for new branches
We often receive calls from both financial services providers and retailers, saying: “We’re opening a branch next week and we need it to be connected.” Fibre services and a traditional network model can sometimes take 90 days to set up, so that’s out of the question. But with SD-WAN, we can set up a network using basic internet in a matter of days. That way the branch can start trading immediately, and wait for the full network to be installed 90 days later.
2. Data analytics
Both retailers and financial services providers have wide-ranging networks. These networks encompass multiple apps that are vital to the running of the business. Some more so than others. So making sure that those organisations have a clear view of the performance of all their apps is paramount. As is the ability to prioritise certain apps at certain times. This is the sort of flexibility and insight you can get from SD-WAN. For example, with SD-WAN a retailer can make sure that their EPOS system always takes priority, no matter what.
3. Comply with regulation
When you deal with sensitive customer data, it’s imperative that you meet regulations about the security of that information. The public internet is inherently less secure and less stable than MPLS. But it’s more ubiquitous and can be cheaper and more flexible. With Dynamic Network Services, you get the best of both worlds. You can choose what traffic to put over what network. This means that the most sensitive data can be routed over the MPLS, while other data can be put over the internet (with a security wrap-around, of course). This allows you to both comply with regulations and also reassure customers that their information is safe.
Could Dynamic Network Services and SD-WAN provide the digital transformation that retail and finance are aiming for?
Visit us at www.btireland.com/dyns and download our whitepaper: ‘How CIOs are shaping their networks for the digital age’ to find out how our dynamic network services can help your business.
BT’s Dynamic Network Services: as you shape the future, we help get you there. Insight, expertise and services that secure your digital future, globally.