MidCap Financial Finds A Soft Touch Instead of a Hard Sell with Dataprise

MidCap Financial Services, LLC was founded to provide debt solutions to middle-market companies. They stumbled in their early search for an IT partner before being referred to Dataprise.

At first, Dataprise provided basic support and break-fix project assistance; however, as MidCap grew in size, their IT needs grew as well. We delivered solutions at every step, and moved seamlessly into a more proactive role as a strategic advisor, providing support and guidance across all IT topics.

Over the years, Dataprise has continued to match MidCap’s changing needs as the company has grown.

Goals for Working with Dataprise

#1 HANDS-OFF IT: MidCap is a key example of the Dataprise belief that our customers should be able to focus on their mission, not their IT. We handle the maintenance and support of Midcap’s technical environment, so their leaders can dedicate their time and attention to company goals.

#2 SCALABILITY: Over the course of our partnership and as Midcap continues to grow, we have been there to provide advice and services for each stage of company development. For the first two and a half years, MidCap’s needs were small and direct. As their needs began to grow, Dataprise matched them with strategic advice and assistance for larger projects and changes in company structure.

#3 RAPID PROJECT RESOLUTION: The financial services industry is fast-paced and calls for instant response. As new needs arise within the MidCap IT environment, our proactive team has been able to provide fast, effective resolution.

How Dataprise Delivered Solutions

#1 CHALLENGE: PROJECT MANAGEMENT: In 2008, MidCap had fewer than 50 employees, and needed help with their basic IT environment and infrastructure, as well as user support. Dataprise came onboard as a buying service for equipment, managing sign-on security, and basic upkeep and support. As MidCap’s growth took off, senior leadership realized that they “didn’t know what they didn’t know.”

#1 THE SOLUTION: Once Dataprise established support, the baseline of trust and expertise created a platform for us to offer more options, consulting, and services. We serve as a reliable advisor who has helped MidCap grow without requiring massive overhauls or coordination with new partners. IT support through Dataprise is tailored to a company’s specific size and business needs, and is scalable as necessary.

#2 CHALLENGE: STRATEGIC CONSULTING AND GUIDANCE: As part of their internal systems, MidCap uses a loan accounting system that operates on a third-party platform. They needed assistance on the best approach to merging a new system acquisition into their current data environment while maintaining IT stability and security. This system needed to be integrated and able to “speak” to MidCap’s other internal systems across a variety of products from a range of public and proprietary sources.

#2 SOLUTION: MidCap began working with a dedicated Dataprise virtual CIO (vCIO) to take a high-level, “quarterback” perspective on the acquisition as well as other IT strategies. Their CFO, David Moore, meets regularly with our vCIO to review an ongoing list of projects and corresponding timelines. We have also assisted in evaluating other prospective acquisitions, provided expert opinions, coordinated the resolution of issues within the environment, and helped present information to investors and other stakeholders.

#3 CHALLENGE: DATA REDUNDANCY AND SECURITY: MidCap, like other financial services firms, is a huge generator and consumer of data, much of which is valuable, confidential, and protected by such compliance policies as HIPAA. As the company grew, the security of this data and the need for redundant, stable backup solutions became major concerns.

#3 SOLUTION: We began backing up MidCap’s physical servers to the Dataprise colocation facility. This ensures that the extremely large amount of data generated by MidCap is redundantly stored and able to be backed up in case of physical damage to any one site. MidCap’s vCIO also keeps them up-to-date on the latest compliance and data security methods to ensure this valiable resource remains safe from piracy and hacking.