Head On

Jonathan Schwartz writes about finance as a technology business

I remember a dinner I had a while back with the CEO of a global financial services firm. As one of his first acts as CEO, he’d cancelled an enormous outsourcing contract, and I’d asked him why - his response has stuck with me. ‘Banking is a technology business. Pure and simple. I can’t win if I don’t have my own team.’

Independent of his views on outsourcing, I’ve heard the same point made by many (but not all) financial services executives - banking (like big swaths of telecommunications, media and retailing) has become a technology business, where every ounce of performance and differentiation matters. Even, and especially, in the midst of market turmoil.

Which is why you should use consultants that can help you improve your game, not play the game for you.

(Via Jonathan Schwartz’s Weblog.)

Java in 2008: “These are people who aren’t religious and aren’t close-minded and just want to Get Shit Done. Oh, and they’ve already got a lot of it done and they aren’t interested in discarding that investment.”

(Via ongoing)

As I have been in charge of setting the administrative infrastructure at WeMind I continuously tried to use web based systems to limit the number of systems administered by us. We use Google Apps, Basecamp and outsource all our servers to Mathias and colleagues at GlobalInn.

We have however run into problems when trying to find web based services that are preferrably local to Sweden, like accounting. Even if marketed as “web based”, they are all based on Internet Explorer using ActiveX or some other proprietary part of IE. As we use Macs at WeMind, these services are as available to us as any software packaged as a .exe file.

I tend to see this in Sweden and not as much in other countries, or am I wrong?