Leading Industries in New York City

June 17, 2016 The TNS Group

Imagine you’re taking a stroll down one of the many corporate-heavy streets of Manhattan. What will you see?

A JP Morgan Chase on Park Ave, IBM on Madison, Verizon and Goldman Sachs on West Street, and many more huge, successful, and well-known companies.

Leading industries in New York City include healthcare, finance, professional services, real estate, and education. In addition, IT services are just as popular but often overlooked. Why don’t you see IT companies around every corner? Well, because they’re behind the scenes fueling the companies that we all know so well.

There is a reason why Manhattan is referred to as “The City That Never Sleeps.” The leading industries in New York are not only driving the state’s economy but are also making an impact internationally. This is all a byproduct of the countless hours spent working, the continuous drive to consistently meet deadlines, ongoing efforts to survive as a business, and much, much more. The reason that New York IT Services are so important is that they help immensely with easing this entire process.

What would these companies do without updated systems and backup and disaster recovery when things go wrong? Could they survive without mobile ability and constant communication? It’s time to shed light on the often overlooked and undervalued contributions of New York IT Services. Managed IT Services companies give these industries “peace of mind,” add value, and meet their business and technical needs so that they, in turn, can change lives. So, without further ado, here are some of Manhattan’s top industries and the ways in which New York IT Services companies benefit them:

HEALTHCARE

New York City is home to the international headquarters of Pfizer Inc., one of the world’s premier biopharmaceutical companies. Their motto rings true: A lot goes into making a medicine. The clinical trials need data and results to be stored, analyzed, and interpreted. The research and development put into making each new drug and ensuring its accuracy just cannot happen without technology.

Public and private hospital systems, educational institutions, clinics, research and geriatric facilities, and small to mid-sized private practices are additional healthcare institutions that have spread throughout the Manhattan gridline. New York IT Services firms in this industry focus on infrastructure and networks, cloud computing, mobility, work-flow optimization, and data services, to name a few.

Healthcare institutions often experience downtime which results in productivity loss and security issues.   This is due to the combined use of old and new systems on shared networks and the lack of maintaining updated and consistent versions of anti-spam, virus and malware solutions.  New York IT Services firms are instrumental in remediating these issues.  Without them, the organization’s management of and accessibility to patient information is threatened. Managed IT Services conquer these challenges head on by providing 24×7 monitoring and remediation, Backup and Disaster Recovery (BDR) solutions, and ongoing collaboration to standardize environments and limit downtime and security risks.

FINANCIAL

It’s no secret that JP Morgan Chase is one of the leading private banks in the nation, making it appropriate that its headquarters are located in the most populous city in the States. According to the magazine “Euromoney,” it is the leader in equity and fixed income portfolio management. You may be familiar with the 2014 security breach that hit JP Morgan Chase in due to a neglected server that did not have a security update applied.  Hackers stole the login credentials for one of their employees.  It’s a prestigious, well-known company and this news made national headlines.  If this could happen to JP Morgan Chase, what is the impact on small to mid-sized financial firms? 

NY IT Services firms are vital to companies in the financial sector that do not have an IT staff onsite or have 1-2 people onboard that spend their days “putting out fires,” rather than working proactively and strategically.  Managed IT Services  firms, like The TNS Group, provide proactive managed security, redundancy, operational power, and environmental stability. In addition, they work collaboratively with these financial firms to ensure that designated compliance regulations are met to the highest standard. They maintain BDR and security systems, including remote access to crucial business applications.

Through cost-effective, customized IT solutions they grant financial service organizations the ability to increase utilization, profitability, and consumer connection, in addition to providing trusted technology in a data-reliant enterprise.  They also reduce environmental footprints by putting more modern print and scan technologies into place.

PROFESSIONAL SERVICES

Business-to-business companies are growing fast, representing the only sector with faster-than-average job growth in NY.  New York IT Services companies are crucial to supporting professional services. They aid in areas such as collaboration, document and image digitization, high capacity networking, email support, and many other overlapping services.

The Society for Marketing Professional Services, commonly known as SMPS, is one of the many companies in Manhattan that serves to educate and connect leaders in building business and achieving success. The company specifically creates opportunities for marketers to meet and exchange ideas.

REAL ESTATE

The real estate industry in Manhattan is flourishing with Commercial Real Estate (CRE) public sector firms as well as construction and many others. One of the leading real estate firms in Manhattan is Foster + Partners, which designs contemporary architecture for some of the most well-known buildings in the city, from the triangular-framed Hearst Tower on West 57th to the Bowery’s glass-fronted Sperone Westwater Gallery. There are also a number of real estate and construction firms that are “up and coming” and their focus is on building their business (not technology).  Outsourcing IT to a New York IT Services firm enables them to concentrate on revenue growth by utilizing technology to their advantage.  For one fixed monthly cost, they have access to a team of resources to address user needs and remediate issues before it impacts operations.

Technology solutions for businesses, such as this one, encompass a lot of overlap with solutions in other industries.  However, in this sector specifically, there is additional support required for contract and billing applications to ensure quick access to critical information at the time of closing.  The importance of large data warehousing is also crucial for large files such as architectural drawings and design and project delivery. A fully managed BDR solution that takes images of the server and backs up data off-site is imperative. The ability to restore data timely is key to maintaining profitability and limiting downtime.

EDUCATION

In the City, educational services consist of both private and public organizations, ranging from K-12 schools to colleges and universities, libraries, and corporate education. Many of these are non-profit organizations and provide students with the opportunity to make their mark on the future of society. One example, The Professional Children’s School (PCS), has just celebrated its 100th anniversary serving children in grades 6-12. The school has, indeed, hired IT services to meet its needs in various areas, from library media services to storing private student information and managing admissions.

New York IT services companies provide a wide range of resources at a price point that works within their budgetary constraints. In today’s day in age, educational and nonprofit organizations, in general, are evolving to adapt technology to all kinds of needs while facing budget cuts. According to a March 2015 e.Republic article entitled “Top Education Trends Driving K-20 Technology Spending in 2015,” the following areas are driving the education technology market: personalized learning, digital curriculums, professional development, online testing, mobility, security, analytics, and increasingly popular Bring Your Own Device (BYOD) policies.

Educational institutions and nonprofits gain a virtual CIO when working with a Managed IT Services company.  This enables them to plan and budget for future changes to their technical environment over a 1-3 year timeframe (if not longer).  This eliminates the element of surprise, as it relates to unforeseen costs, and alleviates strains on the development team and/or Board of Directors to cover these outlays outside of the approved annual budget.

So the next time you’re exploring the thriving businesses that make Manhattan the acclaimed City it is, you now know a little more about the behind-the-scenes making of these successes. From innovation and convenience to crucial maintained support, New York IT Services companies are key players in keeping these businesses competitive as the future brings such groundbreaking advancements in, well, just about everything.  Are you intrigued by the advantages of having a specialized team dedicated to ensuring your profitability and success in the marketplace?  At The TNS Group, our team is experienced in providing the highest quality of service, consulting and guidance to organizations just like yours – contact us today!

By: Taylor Stroili, Marketing Intern, The TNS Group

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