Murray Devine is a valuation advisory firm providing financial opinions and advisory services since 1989. The firm’s exclusive focus on valuations allows it to provide clients with the expert services they need without the conflicts often associated with offering ancillary services.
With more than two decades of experience building long-lasting relationships with their clients, Murray Devine has become the valuation firm of choice for the most respected private equity and venture capital firms, hedge funds, banks, and corporations in the country. Clients range across industry spectrums and from regional companies to multinationals with revenues from $10 million to more than $10 billion. Over the years Murray Devine has earned elite industry recognition and has received a number of prestigious awards including ACG New York Champion’s Valuation Advisor of the Year (2014) and M&A Advisor’s Valuation Firm of the Year (2013).
For years Murray Devine had an on-premise network that was implemented and managed by IT Solutions. Their network consisted of a Microsoft Small Business Server (SBS) – for file storage, email and domain controls – and a Terminal Server for remote access. As with most hardware, servers have a limited lifespan and need to be replaced every few years. For that reason the SBS Server had always been a popular option for most small businesses because it consolidated costs and functionality to a single server, as opposed to purchasing and maintaining multiple servers every few years. This environment worked well for Murray Devine’s technology needs until Microsoft announced the retirement of the SBS Server product.
With aging hardware and a network refresh date on the horizon, Murray Devine was at a crossroads about the future of the firm’s IT investment. They could either upgrade their on-site infrastructure by replacing the SBS Server with multiple, single-function servers – an option that would require an increase in upfront capital expenditure to recur every 3-4 years; or they could opt for a hosted, cloud environment which would move their data offsite and essentially “rent” only the hardware needed – thus shifting most IT expenditures to monthly operational costs.
After careful consideration of their options, Murray Devine decided to migrate their network to NearCloud®, IT Solutions’ private cloud offering, for its secure and flexible environment, integrated disaster recovery solution and long-term cost savings.
Murray Devine’s applications and data were migrated to a fully-qualified Windows domain hosted at IT Solutions’ data center. The ITS data center is housed in one of the largest co-location facilities on the East Coast and is equipped with redundant power and telecommunication supplies, providing the firm with uninterrupted connectivity and access to the network at all times. Both physical and cyber security are maintained at the highest levels within a data center that is SSAE 16 Type II, PCI and HIPAA compliant.
The migration was seamless and from a user standpoint the hosted network setup functions exactly the same. All applications and files, including the firm’s line-of-business application, work as if they were still hosted at the office. The firm’s employees still have the flexibility to work remotely and they can still call the ITS helpdesk for 24x7 support.
The only noticeable change, apart from the physical location of their servers/data, is the structure of the payment plan. NearCloud® is a managed services model that eliminates the need for spending large amounts of capital upfront on underutilized hardware. Instead of worrying about network upgrades every 3-4 years, hardware refresh costs are now the responsibility of service provider IT Solutions. Services are paid for as a set, monthly, per-user operational expense which includes all Microsoft licensing costs.
After moving their servers out of their office, Murray Devine saw a decrease in their office electric and utility bills. Shifting to an operational expense model has allowed the firm to forecast IT budgets more precisely and take advantage of associated tax benefits. It also has freed up additional cash to grow the business or finance other important initiatives.
"While we have been an ITS client for many years, we put off transitioning to a cloud environment, hesitant to “give-up” our data. However, the growing expense of maintaining our own servers and worry about having adequate back-up and disaster recovery procedures, we finally pulled the trigger. The redundant backups and ITS’s level of service provides us peace of mind."
Daniel M. DiDomenico, Senior Managing Director