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Managed service providers are becoming increasingly sought after by global corporations, and small to medium enterprises also. They offer a way for companies to manage modern IT business demands, without the need to hire more in-house staff.
The world’s managed services industry was worth over $312 billion in 2022. The projected growth for the MSP market is impressive too. It is forecast to grow at a CAGR of 12.6% up to 2030 when it will have more than doubled to $757 billion.
The managed services industry covers many areas of IT from backups and recovery services to network security and reducing downtime. These services help to assist in the modern business world.
How do managed service providers help in the digital era?
Managed service providers are third-party businesses that look after clients’ IT networks and systems. They cover all areas of a business’s IT infrastructure. And if you work with a Los Angeles company like ZZ Computer you would expect IT management, network monitoring, and maintenance for your systems and infrastructure. They would also be expected to troubleshoot, spot potential problems before they escalate, and fix them.
They help businesses because internal IT departments can be overwhelmed with other tasks, and at times understaffed. An in-house IT team will have tasks that need to be carried out and don’t have the time, or sometimes the experience, to cope with some of the areas that MSPs can.
In the modern age, many businesses have gone through digital transformation already. And if yours hasn’t then you need to adjust your business strategy to incorporate computer technology and include effective IT support.
What can you expect from a managed service provider?
MSPs cover numerous areas from managed data centers to cyber security. They can help to build a future-proofed strategy and research software and hardware to help form your infrastructure. Here is just one area that IT MSPs work in.
Cybersecurity and data loss prevention
One important aspect of many IT MSPs is monitoring networks and looking for possible security weaknesses and breaches. In 2014, average cybercrime costs were in the region of $12.7 million. This was the average amount of damage caused by each incident of cybercrime. According to cybercrime statistics, 43% of businesses have suffered a data breach.
But, this year global cybercrime is expected to cost $8 trillion. One disturbing fact pointed out by Cybersecurity Ventures is that only China and the US have economies higher than the amount of money that hackers cost.
An MSP can identify and resolve threats to your network and systems. Unlike your IT department, an MSP can work remotely to monitor clients’ networks and not be distracted by computer workers calling for assistance.
By recognizing potential threats and eradicating them quickly, your business’s data will be less at risk. An MSP can help to put into place a data loss prevention strategy.
Can’t your business manage IT without outsourcing or hiring contractors?
A few decades ago, it would be normal to keep all IT needs in-house. But, as the digital age has evolved, systems have become more complex, and business demands are higher.
Trying to recruit, train, and retain IT specialists can be financially prohibitive. Any internal employee is also more likely to specialize in one specific area. As a team, they may work well, but an MSP can offer services covering all aspects of IT and will be highly experienced across a number of systems.
It is this experience that helps to explain the importance of managed technology services. They can work on building an effective IT infrastructure that involves systems that can cover all departments, and are scalable. MSPs can research what software and hardware are needed without it affecting their other tasks.
An in-house IT department will have day-to-day activities that make it difficult to get involved with long-term projects such as system installations such as enterprise management or CRM.
How do you choose an MSP?
Navigating the MSP industry could be tricky especially as it continues to expand. Any industry has some companies that fail to deliver, and the MSP world is no different. So, there are some questions you should ask before selecting an IT-managed services provider.
Ask what services they offer
There are plenty of standard services you can expect from an MSP, but consider what your business needs, and ask what the MSP can do for you in those areas.
Are they experienced?
Ask about their recruitment policy and how long their staff has been employed. Are they experienced and skilled, or is the MSP outsourcing work themselves?
Control your budget
Ensure you stick to your budget and confirm with the MSP that they can provide what you need within these financial constraints.
Are they local?
MSPs can work remotely, but ideally, your selection will be close enough to manage on-site support when needed.
Managed service providers have to adapt as technology evolves. If you are going to use an MSP to assist with IT support, you need to ensure that they are scalable themselves. And check they are keeping up to date with changes in the IT world.
A good managed services provider will help your business grow, keep it safe from hackers, and reduce the risks of data breaches.