Imagine having a professional IT department at your fingertips but without the overhead—welcome to the world of Managed Service Providers (MSPs). By outsourcing IT tasks to an MSP, companies and small businesses can focus more on their core business objectives without the burden of managing technology issues.
But what exactly does partnering with an MSP entail and is it right for you? And, more importantly, what can it do for your business? This in-depth guide will explore the essential elements of managed IT services: what they include, how much they cost, what they do, and what you can expect when you partner with an MSP.
Click to Jump Ahead:
Let’s unpack the suite of services that an MSP brings to your business.
Your IT infrastructure never sleeps, and neither does an MSP. If a potential issue is detected at 2 AM, instead of waiting for the morning or for someone to stumble upon the problem, an MSP’s monitoring services identify and resolve the issue. Moreover, round-the-clock monitoring means that performance bottlenecks and system irregularities are immediately caught and addressed.
As your business grows, so do your network and cloud needs. That’s because the more your operations expand, the greater the demand on your systems to handle increased data, more complex processes, and higher traffic volumes. MSPs optimize your network’s performance by deploying advanced routing techniques, bandwidth management, and load balancing to maintain high-performance levels even under increasing loads.
Cloud services offered by MSPs offer scalability and flexibility for your business. This way, you can increase storage, enhance computing power, or ramp up your security measures with the help of an MSP. This adaptability is vital for handling growth spurts or seasonal fluctuations in business activity.
Each business is unique, and so are its IT needs. Beyond the technical setup, compliance is another critical area where MSPs provide invaluable support. As businesses grow and evolve, so do the regulatory landscapes in which they operate. Non-compliance can lead to severe penalties, legal issues, and damage to your reputation. MSPs stay abreast of the latest regulations affecting your industry and ensure that your IT systems comply with these legal requirements.
This is especially important for the healthcare, finance, and education industries, which heavily regulate data privacy and security. For instance, an MSP can help implement secure data handling practices that comply with standards such as HIPAA for healthcare or GDPR for businesses operating in or dealing with the European Union
Between 2014 and 2022, cyber-related crimes reported to the Canadian police saw an alarming increase of approximately 387 percent. In 2023, the financial repercussions of cybercrime incidents in Canada were estimated to be around $3.82 billion U.S. dollars.
In recent times, high-profile cyberattacks have targeted large Canadian retailers, critical infrastructure, and even municipal systems like the City of Hamilton
These incidents underscore a crucial point: cybercriminals target vulnerabilities, not specific types of victims. Whether it’s a sprawling corporate network or a small business server, the objective remains the same — to exploit any available weak spot.
MSPs provide comprehensive cybersecurity services that include advanced firewall and antivirus software, intrusion detection systems, and ongoing cybersecurity training tailored for your staff. They conduct regular security audits and penetration tests to ensure your defenses meet current standards and are prepared for emerging threats.
Read Next: Cybersecurity Year in Review 2023
So, you’re considering taking the leap into managed IT services, but a nagging question keeps you up at night: “How much is this going to set me back?”
Managed IT services don’t come with a one-size-fits-all price tag, and that’s part of their charm. Here’s a rundown of the most common pricing models:
Read Next: 5 Ways to Optimize Business IT Infrastructure for Maximum Efficiency
Several factors can tweak the cost dial on your managed IT services, including:
Once you’ve decided to bring a Managed Service Provider on board, setting the right expectations is crucial for forging a successful partnership. It’s like adding a new member to your team, and just as with any key player, there are certain expectations you should have.
Here’s what you should expect in the partnership dynamics with your MSP:
Remember, a great MSP doesn’t just support your business—it enhances it. That’s what makes this partnership one of the smartest investments you can make in your company’s future.
Read Next: 5 Common Mistakes Companies Make When Implementing New Technologies
Your employees can’t work if your technology isn’t working. The primary cost of an MSP covers proactive monitoring, cybersecurity defenses, cloud services, and more. Now, compare this to the cost of IT failures—downtime, data breaches, and the delightful chaos of system outages.
According to one survey by CompTIA, 50% of companies who engaged an MSP saved 1-24% in annual IT costs, 33% saved 25-49%, and 13% reported savings of more than 50%.
So, is the juice worth the squeeze?
Absolutely—if the juice is a well-oiled IT machine that boosts efficiency, fortifies security, and supports scalable growth. Then, it’s definitely worth the squeeze. After all, the consequences of IT failures extend beyond immediate financial losses, including disrupted operations and damaged customer trust, which can be devastating for any business.
If you’re considering managed IT services, or if you’re feeling overwhelmed by current IT challenges, contact one of our experts today for a personalized consultation.