The managed services market is growing at an exponential rate that it's expected to go from $223 billion in 2020 to $329 billion in 2025.
More and more businesses are becoming familiar with the concept and turning to managed service providers for IT functions such as storage, network monitoring, and backup and recovery. Let's review what managed services are and how they can benefit your business.
What Are Managed Services?
Managed services refer to the management of the IT operations of a business. These services are provided by a third-party company, known as a managed service provider or MSP.
MSPs provide various services remotely, such as managing and monitoring networks and services, procuring equipment, and providing various IT services. Some also provide data backup, cybersecurity, unified communications, among others.
Types of Managed IT Services
There are different types of managed IT services for clients in various industries, from healthcare to financial and retail. Some of them include:
- Desktop as a Service (DaaS)
- Identity and Access Management (IDAM)
- Hosting Services
- Hardware as a Service
- Managed Security
- Backup as a Service
- Data Analytics
- Managed Communications
- Networking and Infrastructure
What Are the Benefits of Managed Services
An MPS can be one of the most beneficial services for your company for the sole reason that they will save you the valuable asset that's time. You will have enough time to focus on other core business competencies and functions, which will, in turn, increase productivity and profits.
Most small and medium-sized businesses lack the skills and resources necessary to manage their own IT needs. Hiring an MSP beats outsourcing to freelancers as well because you get a full-blown team of technical experts, and it'll reduce costs associated with internal IT support.
Predictable Low Costs
You see, setting up your own in-house IT department with the right hardware, software, and staff can be extremely expensive. You also have to factor in regular maintenance and updates, which translates to recurring costs. With managed services, all these costs are eliminated, and you only have to pay for the service.
The price tag that comes with maintaining an in-house IT department is quite hefty. For this reason, most businesses are understaffed with overworked and sometimes underpaid personnel, which always results in failure due to lack of time and resources.
Hiring and training additional employees is an added expense, and you can't be sure they'll stay with the business in the long-run. A managed service provider absorbs all these costs and can help you expand and upgrade systems as your business grows because they have the manpower, resources, and equipment necessary for coordination.
You're likely to experience downtime when you have equipment issues as computers and servicers fail and malfunction. System attacks can also affect your data and networks. About 28% of cyber attacks target small businesses, which is a significant problem that you must consider. With an MSP, you don't have to worry about downtime as they will prevent it from happening in the first place.
Hiring the right talent for your IT department is not only taxing but time-consuming, and you never know how good they really are until you face a problem. Some may have the credentials but still lack the capacity to mitigate problems in a timely manner, costing your business money you don't have.
MSPs are large businesses with teams of experts that are well equipped with knowledge and skills to handle different types of issues. You don't have to guess whether they can solve specific issues because you'll scrutinize their track record before getting into the business.
Choosing the Best Managed Service
Just like any other services in business, outsourcing management will work well if you hire the right MSP. When searching for the right company, look for commitment to growth, exceptional customer services, and defined service legal agreements. Now that you're in the market for the top MSP, Network Connections has all the managed services solutions you're looking for.
We will offer your business managed IT services, mobile or remote workplace, cloud integration, IT consulting services, and hosted VoIP solutions. Get in touch with us today, and we'll discuss how best we can help your business.