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Laxman Pai, Opalesque Asia:

Rising inflation is changing how hedge funds manage and support their IT services, revealed a survey.

More than half of firms (55%) that currently outsource their IT management and support said they would increase outsourcing due to inflationary pressure, said the 2023 Hedge Fund Managed IT Trends Report by Agio.

The Great Resignation (also known as the Big Quit and the Great Reshuffle), which refers to the higher-than-usual number of employees voluntarily leaving their jobs since late 2020, has had an even sharper effect on the push toward outsourcing, with 87 percent of firms looking to increase outsourcing due to high employee turnover and increased labor costs.

Firms that currently insource their IT management also unanimously (100%) said they would look to outsource over the next two years. The primary drivers to outsource for these firms were to reduce the total cost of IT ownership, scale operations cost-efficiently, and offset the loss of in-house talent and skill.

The report also found that those funds that will expand their existing outsourcing efforts want cloud management and support (75%). Migrating to the cloud is a significant part of the story as firms look for ways to cut costs while building better end-user support, increasing security for remote workers, and scaling IT operations efficiently. Public and multi-cloud solutions address those concerns, giving organizations improved security, resiliency, and availabilit......................

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