On the basis of different studies, it is believed that MSP services will increase by nearly 50% during the next 5 years. In fact, according to Markets and Markets, worth of managed services market will reach $354.8 billion by 2026, which is a nearly 70% surge from what the market saw last year. The reasons for this hike can be many but the most popular one is that business leaders are coming to terms with the fact that internal expertise is no longer sufficient to run an efficient business. Managing IT infrastructure is not only costly but requires a great deal of attention for maintenance. And MSP IT company, on the other, can manage all IT functions at a not only cheaper cost but provides you with more efficient solutions.

The continuously changing technology and business market has a great impact on the productivity of companies. When a new technology comes, businesses are required to upgrade their systems and this needs not only a lot of capital but a lot of time too. And businesses don’t really have time to halt their operations for systems upgrades because this affects their productivity. Managed service provider companies, on the other hand, neither need any capital from you while making upgrades nor any attention. Continue reading and you will understand the role of an MSP provider in detail and its advantages for the business world.

What are Managed Services and what does an MSP Provider do?

Managed Services refer to the practices of outsourcing certain business processes and functions to third-party service providers. Companies do so to make operations more efficient and optimize costs. An MSP service enables a business to focus on its primary operations, increasing its productivity and efficiency. As a result, they will easily grow in their target market.

Unlike an on-demand service, an MSP continually monitors, maintains or manages, improves, supports, resolves, and reports on business operations. Their service ensures that businesses meet all industry regulations and market needs at all times. The most common business operation that companies usually outsource is IT infrastructure. And the service providers allow businesses to either outsource the whole IT infrastructure or some limited IT functionalities.

Here are 3 Reasons Why Your Business Needs an MSP IT Company:

There are many benefits of outsourcing IT to some managed service provider companies but here we have enlisted 3 of the most popular ones,

Cost Savings:

When you maintain your IT infrastructure in-house, it results in huge cost overheads. And this cost is not always affordable, especially when are running a small or medium-sized business with limited resources. Essentially, you will spend on acquiring tools in bulk that you may need to manage your IT. You also need to hire a team of skillful professionals to manage these systems. Also, the IT infrastructure requires space in your office to house them. And when upgrades in technology are introduced, you also need to upgrade your systems. But a managed service provider doesn’t require any of these costs, you only pay them a fixed monthly fee for the service you desire.

Simplification of Complex Processes:

When you are working with an MSP, you will have a diverse workforce, and flexibility in operations. Also, you will be able to pay special attention to factors such as infrastructure compliance and change management. So, a trusted MSP provider has all the processes, infrastructure, and manpower in place to handle the most complex of problems on a daily basis. As they are the experts of the field, they focus on every single aspect while having contingency plans for the possible challenges that may lie ahead.

Disaster Management and Data Recovery:

Businesses that have an in-house IT infrastructure, a disaster, or a critical server failure can leave them in trouble. And this troublesome situation will adversely affect their day-to-day business operations. There is a risk that they may lose the data that is vital to their business processes and overall growth. Additionally, keeping data recovery processes and tools operational all around the year is yet another overhead that your business will end up taking.

Working with an MSP IT company, on the other hand, you don’t have to worry about disaster and data recovery. They will store your data on the cloud, keep it safe from all sorts of cyber-attacks and natural disasters. Moreover, they will provide you with technical as well as operational support 24/7/365. You will have to face minimal to zero downtime, which is a big advantage for your business. This is because an hour of downtime can cost a small business about $8000 and a large business $700,000.