Measuring ROI from your managed service provider

More and more businesses are choosing to outsource their IT to a managed service provider (MSP). Doing so allows them to optimize systems, minimize downtime, manage risks, and ensure that their IT systems are working to support the organization and its goals. Managed IT services can provide a range of different services to businesses, representing significant cost benefits.

What does a managed service provider do?

A managed service provider is an external, professional IT service that you can hire to manage your company’s IT needs. The exact services vary depending on the agreement between the service provider and the organization. However, these services typically include server monitoring, network management, specialized applications, strategy, or a combination of these. 

Generally, the service provider will be responsible for the functionality of hardware, applications, and networks. This service will include configuring hardware to best practices, bolstering security configurations, and providing ongoing monitoring and troubleshooting for hardware, software, and networks.

Managed service providers can also help to manage communication services, allowing you to take advantage of the latest communications tools that improve how you communicate internally and externally. If you are not using these tools already, an MSP can help you to implement these in your organization. They can also help you to optimize your usage of the technologies already in place and avoid any issues or disruptions.

On a strategic level, you can consult with your managed service provider on how to optimize your business applications, hardware, and network. Your MSP will be able to advise you on how you can streamline your routine IT tasks across your business and simplify your IT management.

Cost benefits of managed IT services

Managed IT services represent a number of cost benefits for businesses and organizations. Firstly, applications and hardware are typically hosted and managed by the service provider. This means that your business can avoid needless investments in new servers and infrastructure. Avoiding these investments can involve significant savings, particularly as your business scales or if your needs fluctuate over time. Rather than needing to invest in expanding your infrastructure or scaling it back when it is no longer required, your MSP can adapt to meet your changing needs.

Another key benefit of working with an MSP is that your IT systems will be better maintained and optimized and your networks and systems are constantly monitored. This, in turn, will mean that your business will experience fewer issues such as downtime or outages. This can represent significant cost savings by avoiding lost productivity, damage to your corporate reputation, and potentially lost business. According to a Gartner report, IT downtime costs companies $5,600 per minute on average.

Working with an MSP gives your business access to the latest and best cybersecurity tools, protecting you from attacks, malware, and other cybersecurity risks. Managing these risks could represent substantial savings in the long run: each cyberattack costs businesses an average of $200,000. Furthermore, more efficient and more effective communications facilitated by your MSP will mean that your team will be more productive and provide better service to your customers, potentially increasing your profits.

Finally, working with a managed service provider means that your staff are liberated from time-consuming tasks involved in maintaining IT systems, monitoring networks, troubleshooting problems, and so on. Therefore, they are able to spend more time finding new ways to optimize processes, increase revenue, and grow your business.

Is outsourcing a good IT strategy?

Although there are fees involved in outsourcing your company’s IT needs, most businesses will find that the benefits far outweigh the costs and that they will receive a substantial return on their investment. Outsourcing to an expert managed service provider allows your business to optimize your IT systems and strategy, minimizing risks such as cyberattacks and downtime, and makes your team more efficient and more productive. All of this makes outsourcing your IT to an MSP a smarter business decision that will save you money.

Get in touch with us to learn more about how a managed service provider could benefit your business.