Cutover: Building Operational Resilience to Reduce Risk and Support the Future of Work
The pandemic has changed the way teams work together. With increased reliance on remote collaboration and the growing number of cyber-attacks and ransomware, cyber resiliency and security are top of mind for organizations across industries.
Partnership Fund for New York City portfolio company Cutover is among the technology platforms leading the charge to help fast track innovation and adaptability as corporate operational vulnerabilities come to the fore.
Led by CEO Ky Nichol, Cutover helps businesses implement critical change events, such as technology releases and resilience testing. After participating in the 2018 FinTech Innovation Lab New York, London-based Cutover expanded its operations and opened a New York office.
We caught up with the team at Cutover to learn more about how its technology is helping organizations meet new demands and build resilience into their strategies.
What does your company do?
The Cutover platform brings teams and technology together to orchestrate complex work faster and smarter, with real-time visibility and control.
Cutover is focused on resilience to make sure companies can predict, repair, and recover from any incident quickly and collaboratively. Our software enables teams to plan, test, and recover at pace.
How does Cutover’s technology help companies with cyber resilience planning?
On June 2, 2021, The White House issued a memo calling on executives and business leaders to react urgently to the growing number of cyber attacks. The memo includes best practices that any business should follow to become more resilient.
These key steps include backing up data (including recovery plans), testing the incident response plan regularly, and maintaining the security of operating systems, applications, and other critical components. It is crucial to have detailed, actionable plans in place.
Cutover provides cutting-edge incident response functionality and a catalogue of industry-aligned Cyber Resilience Runbooks. This offering helps teams across the organization execute complex tasks together and run all the recovery plans for their individual apps while providing full visibility to track the process end to end.
With our software, we have seen clients double the throughput on their IT investments. Building resiliency (including cyber resilience) can lead to a 20% reduction in outages, 100% increased throughput and avoidance of regulatory fines.
Why did you open your office in New York City?
Cutover was founded in London, a financial services hub. Our first clients were banks such as Barclays. For us, opening a New York office was inevitable — we always knew we wanted to go there. In 2018, we participated in the FinTech Innovation Lab New York. Our team received mentorship, hands-on support from senior executives at major financial institutions and great insights into the U.S. market.
Immediately following that program, we set up an office in New York City and started hiring executives with strong relationships in the U.S. The Partnership Fund for New York City invested in Cutover to help facilitate our expansion. We haven’t looked back. New York’s pace, unique level of talent, and developed hubs of tech and financial services companies all make it a phenomenal city to work in, and we are enjoying every minute of it. We also have plans to grow our New York office further this year.
How do you see your product contributing to post-COVID recovery and growth?
At the strategic level, the pandemic has fueled conversations with prospective and existing customers. These companies now have a growing need to work remotely, to orchestrate complex work with a heavy reliance on IT systems and apps, and to react quickly to changes caused by the pandemic and other incidents that may occur (e.g., cyber attacks).
Even though we’re starting to see the return of some normality, hybrid models of working are likely to stay. As companies transition into these hybrid models, it’s crucial that they keep delivering high-quality service that customers expect. Downtime is not an option.
Losing velocity, getting hit by “unforeseen incidents,” and not being able to deal with the new reality of remote/complex work will have huge repercussions.
Our clients use Cutover as a “system of systems”: they store recovery plans, test failovers, integrate with existing necessary services, prepare and coordinate and have full visibility and control over the recovery process.
As our platform evolves, we’ll continue to help companies adapt for the future of work as they operate new models for collaboration while delivering excellent, uninterrupted service to their customers.
The Partnership Fund is proud to support Cutover as it drives digital transformation and bridges teams and technology across industries. Learn more about Cutover here.