Today, a significant number of companies are running their businesses online, and the microfinance industry is no different. In fact, big microfinance companies are heavily automated. However, automation comes with some security and performance issues. If you want to keep things smooth and secure, server maintenance is important.
Many people might argue the importance, but it is what you need to do regularly as a financial organization. Otherwise, your business might be affected sooner or later.
At the heart of IT infrastructure, your servers are the main competent for processing and managing your information. It is the physical living space where your MFIs data is stored. The server is ready to serve you locally or remotely whenever you need any information or want to input some information.
Without any doubt, it is a very important function. Therefore, it requires an adequate and long-term maintenance plan. Though it is not easy to put it into practice, with simple precautions and the help of specialized companies, it is possible to avoid any issues.
Let’s discuss why server maintenance is important for your MFIs in more detail. But before that, let’s learn what server maintenance is.
What is Server Maintenance?
Simply put, server maintenance is a process to keep your system updated. Like any other maintenance work, it is also about fixing issues and keeping everything clean, so your system is up and running properly.
For example, if you have an online core banking solution, it needs a physical place to live. The place is called a server which holds all the information – users’ data, customer data, transactions, reports etc. Now think, will it have the same efficiency if you don’t look after the server from time to time? No.
So, to keep it efficient and problem free, the server needs to be maintained properly. You need to update the software, keep the hardware up to date, check malware, maintain backups and conduct load balancing when necessary.
Hope this clears up your confusion. Now let us tell you why server maintenance is important for your MFI.
Why is Server Maintenance Important for Your MFI
There are many reasons why server maintenance is important for microfinance institutions. And without any doubt, we can say that financial organizations, including MFIs, need to conduct regular server maintenance if operating online.
The main purpose of server maintenance is security, better functionality and operational capability enhancement. Let’s dig deep into the points mentioned above.
Secures Your Entire System
The most important aspect of server maintenance is security.
Without any doubt, online business comes with a lot of benefits. But it also poses some risks. And since the microfinance business handles money, the risk is even greater. So, it is necessary to keep your system secure.
Now the question is, how does server maintenance secure your business?
Well, every server runs with some software and hardware. And that software is often updated by the software provider. When there is a new update, you must also update the security patch. Otherwise, hackers might find a loophole and attack your system.
On the other hand, malware is something that can potentially affect your server’s security system. So, running a regular malware test is also important to secure your system.
The fact is, when a server is maintained regularly, professionals always check on all those important things. Therefore, as a microfinance organization, you must regularly conduct server maintenance operations.
Improves System Performance
Suppose you have a car, and you take it to mechanics every now and then for maintenance. What will happen if you stop taking your car to any mechanic or workshop for servicing? Its engine will definitely reduce in performance.
A server is also similar to an engine. If you don’t do the maintenance, it will have digital junk, which will eventually block your system’s performance. You might be thinking, how does a server is affected by digital garbage?
Well, when there is something unnecessary, for example, a bug or malware in your server, it uses the existing resources. And when something else is consuming the resources, your microfinance solution has fewer resources to use. So, the performance of your software will definitely be affected.
Therefore, you must conduct server maintenance to boost your software or system’s performance.
Enhances Server Capability
Server maintenance is not only done for security and performance’s sake within its limit; it is also done when necessary to extend the server’s capability. You might be thinking, why would you need to enhance your server’s capability?
Well, a server always has its limit to support your operation. For example, you have hired a server capable of supporting 1000 active users. Now, if your organization hires more people or you have a particular pick hour with more active users than usual, then you must enhance your server’s capability. Otherwise, your server will crash for an extra load.
Most companies pay a huge sum of money and take extra server resources, which they don’t use most of the time. But why would you always pay when you could have fewer resources and extend anytime it is necessary?
What are you thinking? Is it even possible?
Yes, it is!
If you have a managed cloud server, you can actually have that opportunity and save a lot of money. But you need to conduct server maintenance whenever you want to extend your server resources.
In short, server maintenance provides you with robust security, better performance and capability enhancement for your MFI, which can help your organization flourish without any interruption. Hope you understand why server maintenance is important.
Looking for a Managed Server for Your MFI?
Explore Southtech’s sKLOUD