Infinity IPS and Canopy Financial Technology Partners both operate in the capital markets, specializing in mortgage industry services such as due diligence and quality control, with a focus on client-centric solutions for complex financial transactions. Following Infinity IPS’s acquisition of Canopy, it was necessary to cut Canopy’s IT expenses while maintaining and enhancing data security, system reliability, and productivity across global operations. After a thorough market review, they chose Magna5 for our cost-saving solutions, proactive approach to partnership, and commitment to learning about and meeting the companies’ unique needs, including extensive knowledge of and ability to maintain compliance in a highly regulated industry.
The Challenge
Canopy Financial Technology Partners was experiencing astronomical IT costs with a well-known national IT firm. Post-acquisition, they sought to reduce IT expenses by at least a third without sacrificing service quality.
The Solution
Canopy chose Magna5 as their IT solutions provider because Magna5 stands out for its thoughtful approach to cost reduction and seamless transition capabilities. Magna5 provided Canopy with a full suite of managed IT services — including endpoint security, backup and recovery, public cloud, help desk, monitoring and management, and Microsoft licensing — and converted Canopy to an Azure-based Virtual Desktop Infrastructure (VDI) environment, reducing costs, increasing visibility, and maintaining security.
Secure Transition
Canopy’s migration to Magna5 services was carefully planned and executed. Despite facing challenges from the outgoing vendor, Magna5 navigated the transition smoothly, adhering to projected timelines, delivering results ahead of schedule, and preventing a security breech.
Magna5 engineers ensured system security throughout the transition, especially during a critical juncture when bad actors attempted to infiltrate Canopy’s systems. The instability from migrating services could have resulted in catastrophe if it were not for Magna5’s diligent team, who did not rest until ensuring the attack was over and no instability happened. “I sleep better with Magna5 as my partner,” said Burt Campbell, President of Infinity IPS and Canopy Financial Technology Partners, “Magna5 stepped up and their engineers worked with us for an 18-hour period nonstop to make sure every single door was shut tight to these bad actors, and that we were absolutely secure. Nothing got through, and that’s because of Magna5’s team.”
Real Partnership
Collaboration with Magna5 led to a significant reduction in costs, estimated at 35%, and established Magna5 as a reliable solutions provider for both Canopy and Infinity IPS. Burt Campbell noted that Magna5 stands out for its engineers’ deep understanding of their clients’ business, as well as their prioritization of transparency and security.
“If you want a good strategic partner when it comes to your IT vendor, Magna5, in my opinion, is the best out there. They will think with you, they’ll think for you if you ask them to, but they’re always there beside you trying to find a better way and making sure that you’re safe,” said Burt. “Magna5 is a smart strategic partner for us, and the savings we get is just an added bonus.”
Infinity IPS and Canopy have been impressed with Magna5’s responsiveness and support. Burt likened the level of attention they receive to having an in-house team available at a moment’s notice.
Magna5’s commitment to collaboration was further demonstrated by enabling Canopy’s Admins with full access to their Azure cloud environment, providing full visibility and real time cost analysis — features most MSPs do not offer. Magna5 values and delivers proactive, transparent collaboration, ensuring their clients to succeed with confidence; an approach to service that stands apart.
I would highly recommend Magna5 to any company except my competitors because I prefer to have the advantage."
The Results
- Achieved approximately 35% reduction in IT expenditure.
- Transitioned to a more cost-effective Azure VDI environment without any service interruptions.
- Enabled full Admin access to the Azure cloud environment, providing full visibility and transparency.
- Enhanced global data security and system reliability.
- Established a proactive and strategic partnership focused on continuous improvement and cost-saving opportunities.
Solutions Implemented by Magna5
Public Cloud Optimization.
Magna5 leveraged the scalability and cost-effectiveness of the public cloud to optimize Canopy’s IT infrastructure. Transitioning to a Microsoft Azure-based Virtual Desktop Infrastructure (VDI) enabled a more flexible and secure remote working environment while significantly reducing hardware costs and improving system availability.
Comprehensive Endpoint Security.
Understanding the vulnerability of endpoint devices, Magna5 implemented a robust security strategy that included the latest in endpoint detection and response (EDR) and threat hunting. This strategy protects against both known and emerging threats, ensuring devices connected to Canopy and Infinity IPS’s network, whether company-owned or BYOD, are secure and compliant with industry standards.
Advanced Backup and Disaster Recovery.
To mitigate risks associated with data loss and ensure business continuity, Magna5 set up an advanced backup and disaster recovery solution. This system was built to quickly restore operations in the event of a cyberattack, system failure, or natural disaster, protecting Canopy’s critical financial and operational data.
Streamlined Help Desk and Support Services.
Magna5 enhanced Canopy’s access to IT support with comprehensive help desk service. This service provides 24/7/365 support through multiple channels, ensuring any issues can be rapidly addressed by knowledgeable engineers familiar with Canopy’s specific IT environment.
Proactive Monitoring and Management.
To prevent IT issues from escalating into costly downtime, Magna5 implemented proactive monitoring and management of Canopy’s IT systems. This includes regular maintenance, real-time alerts, managed detection and response, and automated incident response, allowing for the quick resolution of potential problems before they can impact business operations.
