What is an MSP?
The term MSP stands for Managed Service Provider. In general, it applies to outsourced IT services. These services are regularly performed by MSPs and may include:
- Managing IT infrastructure
- Adding cybersecurity hardening to IT systems
- Offering technical support to staff
- Managing user access accounts on clients’ systems
- Offering fully managed hardware outsourcing
- Specialty IT projects and consulting
Ways an MSP Saves Your Business Money:
- Access to enterprise-grade tools for a discounted price.
- Access to expensive technology resources that are not always needed full-time.
- The fewer IT issues, the more profit for both client and MSP.
Learn more here on how MSP’s save you money.
5 Signs It’s Time to Outsource Your IT:
- Size: you have 10 or more PCs. You’re at a size where Managed Updates becomes essential, and you’ll need to choose how you can reliably secure your IT fleet. You should be looking for solutions to help scale and reduce complexity, such as centralized authentication via Active Directory, centralized Endpoint Security, and more.
- Revenue: you are over $1 million in annual revenue. If you have reached this level, it’s time to have a conversation with an IT company that knows firms your size and even 10 times your size so you can be set up for success as you grow. You will save money by avoiding costly penny wise pound foolish-style mistakes that many SMBs make early on.
- Expertise: does your business involve attracting and retaining IT talent? Or staying up to date on IT trends and security breaches? If not, outsource it, just as you do for your tax and legal needs.
- Compliance: are you subject to any regulatory requirements? Hint: if you store names and addresses on a computer, you’re subject to Arizona’s breach notification law. Compliance is an ever-evolving journey that requires dedication, and it is typically paired with a mature IT environment. Without outside expertise, and it’s unlikely an SMB could achieve compliance with internal resources (see #3).
- Cybersecurity insurance: do you have it? If you’re employing a friend, family member, random person on Craigslist, or intern to implement IT solutions, are you protected if they cause you to get breached? Every SMB should have cybersecurity insurance, but many do not qualify due to the application process rooting out insecure SMBs. Outsource your IT to an IT company with its own cybersecurity insurance (think errors and omissions for a CPA) to greatly reduce your risk. Hint: insured IT Companies will want to set up and manage your environment in a secure manner so they can remain insured!
Benefits of Working with an MSP:
- Savings + Maximized Productivity: If you’re smaller but have in-house IT, your company could save the money of a full-time, salaried employee by only hiring an MSP for the specific monthly tasks you need. Plus, leave the tech support to your MSP and let your full-time employees focus on the specifics of running your business.
- Predictable Budgeting: You will have the option to function on a retainer with your MSP to control monthly budgeting or predict additional out-of-pocket costs rather than reacting to unforeseen costs.
- Well-Rounded Expertise: With an MSP, you’re gaining the IT knowledge of an entire team of IT experts, rather than one individual. Where one individual will undoubtedly have weak points, an MSP team fills in the gaps with the knowledge of multiple IT experts to lean on and refer to when complicated issues arise.
- Reliable Technicians: Leave the training of technicians up to your MSP. With a team of IT experts, your MSP will be responsible for training up new employees on the intricacy of your business- and that’s on their time and their dollar- rather than yours.
- Qualified Service: With certifications and constant continuing education, you can rest easy that your MSP is up to date on the latest in IT support.
- Immediate Implementation: With outsourced IT, you won’t have to pause your business operations to install the latest software or implement new ones. MSPs are well-versed in getting you up and running as quick as possible with the option to bring multiple team members on-site to to complete the implementation as efficiently as possible.
- Improved Customer Service: While you focus on running your business, your MSP is working behind the scenes to make sure your customer experience is as seamless as possible. Companies choosing to work with MSPs frequently experience higher customer services ratings than those companies that do not.
- Reduce Risk: The risk of downtime or cyber attacks is both an operational and financial risk to your business. Having an MSP on board reduces your risk with a qualified team of experts working on your business’ behalf to prevent and reduce risk of downtime or cyber attacks.