4 December 2023
As technology continues to impact business operations, more organizations are investing in technology infrastructure that supports and enhances their processes. The revenue in the managed services market is expected to reach $23.21 billion in 2023, making it an attractive solution to many IT challenges.
Organizational leaders are exploring how to maximize return on investment (ROI), reducing IT costs while improving efficiency and security. Understanding the link between managed services and ROI is the first step to developing an effective IT strategy.
Managed IT services are information technology tasks handled by a third party called a managed service provider (MSP). MSPs take responsibility for various IT-related services, maintaining and anticipating your organization's IT requirements.
Many organizations outsource IT-related functions to streamline operations, access the latest innovations, and maximize ROI. When you partner with the right provider, they offer a comprehensive approach and create a reliable and secure infrastructure aligned with your requirements, helping to drive your organization toward its goals.
Partnering with an MSP requires an investment, and whether you get an appropriate return on that investment is a significant factor in your decision. You can maximize ROI with managed services in the following ways:
IT is a complex organizational element — a team of experts managing your infrastructure streamlines multiple workflows within your organization. Your provider can identify and remove inefficiencies from your business processes, improve collaboration, and integrate siloed information, ensuring everyone in your company can access the tools they need.
Your provider only focuses on elevating your technology profile. The less your team struggles with your IT, the more energy they can invest in their primary roles, delivering additional value to your organization. Managed IT services can also help your organization reduce in-house IT staffing and infrastructure, offering a cost-effective alternative regardless of organizational size.
Cybersecurity is a significant concern for many organizations, and protecting sensitive data is the main priority. Managed IT services can reduce the risks of cyberattacks and create robust incident response plans to mitigate the damage of a breach. Many MSPs have a dedicated cybersecurity division, leveraging the latest technology to stay ahead of the ever-evolving threat landscape.
The advantage of managed service providers is that they can integrate the latest technology and proactively protect your data. Many go beyond basic cybersecurity, offering various security services tailored to your organizational and compliance needs. Some options include security awareness training, vulnerability management, and penetration testing.
Keeping up with growth and changing customer requirements is essential in today's fast-paced landscape. An MSP can provide flexibility and scalability to achieve its goals. Access to the latest technology solutions via your provider can extend your capabilities and improve your agility.
Whether you need to expand your services to support growth or streamline for cost efficiency, managed services can facilitate these rapid changes. IT experts can ensure your IT infrastructure synchronizes with your organization's objectives, boosting your ROI.
Access to a team of experienced professionals is one of the principal benefits of partnering with a managed services provider. These experts offer a strategic approach to managing your IT requirements and possess a comprehensive knowledge of IT infrastructure, cybersecurity, and relevant innovations. Your provider can address your IT challenges, no matter how complex, eliminating the need to hire and train people in-house.
MSPs use the latest tools to monitor your systems, allowing them to detect and resolve issues before they disrupt your processes. Employing real-time fixes helps keep your organization running, minimizing downtime and ensuring consistent productivity so you can boost operational efficiency.
When you partner with an MSP, your first discussions often center around improving your IT infrastructure within a manageable budget. Managed services provide a predictable cost structure, making your IT budget easier to handle and allowing precise financial planning so you can allocate resources effectively.
Partnering with an MSP means your internal team can focus on their core competencies. With a team of experts managing your IT, you can allocate more time and resources to strategic initiatives, streamlining your operations, and achieving your objectives. You can focus on innovation and growth, confident that your IT infrastructure supports your goals.
Reactive IT management often means issues are only addressed after they become a problem, which leads to downtime and the associated expenses. Managed IT services take a proactive approach. This additional visibility means you can plan for downtime if necessary, keeping extensive fixes to out-of-office hours or quieter times, minimizing disruption while ensuring consistently high performance.
A partnership with an MSP is the best move for many organizations, provided you work with one that meets your needs and strategic goals. With many managed IT services, knowing the red flags and finding the perfect partnership is essential. The following steps can help you narrow down your options:
The better you understand your needs, the more effective your partnership with your provider. Consider where your organization is concerning IT and where you want to be. Define your expected outcomes and what you want from your IT infrastructure. Then, consider how much you plan to invest over the coming years.
While proactive services may be more expensive, they are better positioned for maintaining operations and maximizing productivity. Reactive, or "break-fix" models, have advantages for small businesses and startups. Proactive maintenance and monitoring prevent IT issues from inhibiting productivity and growth.
The average data breach cost is $5.56 million. Cybercriminals target organizations of all sizes. Managed service providers make attractive targets themselves, and you need to be sure your provider has a robust cybersecurity profile to protect your data and help you comply with industry regulations. Ask about their internal security and data privacy practices so you can confidently start your partnership.
You'll likely work with your provider daily, and a positive relationship is essential. Your provider should fit your company culture and have a communication style that complements yours. Ask any candidates about their values to ensure you're compatible and can work closely together in the long term.
Look for a provider that has been in business for a long time and has a proven track record of success. They are more likely to provide high-quality services and help you achieve your strategic objectives.
Focus on providers that can demonstrate a positive ROI for their services. Ask your potential provider to provide metrics showing how their services have impacted their existing partners.
Organizations face unique challenges in today's IT landscape, and working with a managed IT services provider can help you increase productivity, reduce downtime, and save money. Technology should move your business forward, and Framework IT can handle your tech so you can focus on your objectives. We offer comprehensive support, proactive monitoring, and robust cybersecurity services tailored to your business needs.
We can help you maximize ROI by ensuring continuity, facilitating compliance, and controlling technology costs. Please speak to one of our experts today to learn more about our comprehensive managed services.