Managed Services Providers
IT systems are expected to advance at a pace that meets increasingly higher standards of operation. The emergence of remote work practices has forced businesses to keep pace with constantly changing IT trends and technologies. Whole industries have had to reinvent themselves in the wake of the pandemic of 2020. As a result, businesses have opted to outsourcing their IT systems and challenges to a Managed Services Provider (MSP) to help them excel in challenging times.
But how do you know you’re ready for an MSP? How do you know an MSP is right for you?
If You’re Facing Constant IT problems
Now more than ever, it’s common for businesses to deal with constant IT issues. Technology is changing to adapt to the needs of clients and consumers and it can be easy to get swept up all of the requirements, applications, and digital tools that cloud computing has to offer. A managed services provider keeps your technology up to date with regards to digital platforms, hardware, software and applications. That means you can spend less time worrying about your infrastructure and more time on your business.
But what exactly is managed services and what role does an MSP play?
Managed services providers handle day-to-day IT operations to improve efficiency and cut costs. You can hand over specific IT operations to them and choose the degree of responsibility they have. That is the case for a co-managed solution. Co-management is delegating IT tasks over to an MSP that your current IT department is too busy, understaffed, or underequipped to tackle.
If You Lack in IT Strategy
More specifically a Managed Service Provider optimizes, reports and analyzes IT operations to promote growth. They reduce risk and increase efficiency by bringing in the technologies and processes so that businesses don’t stagnate.
In many cases, a business will have a running IT department but they won’t have an IT strategy. They don’t see a need for an IT strategy because to them their IT strategy is: “keep things working.” In today’s world, that is no longer enough. There is a stronger emphasis on remote capabilities and cyber security than ever before. Cyber attacks are on the rise with cyber-crime damages predicted to cost the world $6 trillion annually by 2021.
If you know Cyber security is more important than ever
Cyber crime costs include destruction of data, money theft, Intellectual Property theft, productivity loss, forensic investigations into an attack, restoration of hacked systems, reputational damage to the organization and more.
Global spending on cyber security is also on the rise. From 2017 to 2021, global cybersecurity spending was predicted to go up to $1 trillion . For some perspective, the global cybersecurity market was valued at $3.5 billion in 2004.
Cyber security is not like an issue with a car where you take it to a mechanic and they fix it. It’s an ongoing process that requires constant maintenance like brushing your teeth or staying healthy. If you’re only doing it when there’s a problem you will suffer in the long term.
If you understand innovation is KEY
Furthermore, businesses are adapting to the needs of their clients and customers. These needs require a digital presence and a greater emphasis on ease-of-use for mobile devices. Large banking institutions like Goldman Sachs are innovating in mobile banking by launching Marcus.
Marcus is a commercial banking division of Goldman Sachs that relies on mobile banking technology. Capital One made history by being the first bank to become a cloud-first organization. It migrated to the cloud in 2019 and secured its data with Amazon’s cloud services, AWS.
If You Want To Always be Prepared
All of this to say that in the 21st century, a digital strategy can make a company. Neglecting to have one can break it. Look no further than the pandemic of 2020. Where hundreds of profitable businesses struggled to stay afloat simply because they did not have the procedures, tools, and technology in place to operate remotely when lock-down orders were given. Organizations large and small scrambled to find the technologies necessary to survive only when they were faced with the reality of their situation.
As a result, those who leveraged the cloud, prepared their teams and had the appropriate procedures in place had a huge advantage over those who did not or who started later.
An MSP Partnership is a Collaboration
In the case of a managed services provider, outsourcing doesn’t mean relinquishing all responsibility. An organization is supposed to work with their MSP to better understand its digital strengths, weaknesses, and areas of improvement. IT consulting is one of the prime roles of a good MSP but requires self-awareness and knowledgeable input on the part of the business being consulted.
Rigidness is not useful in many circumstances but this is especially true with IT. A business must be willing to trust in their MSP and work together to resolve issues. On the part of the business it means practicing due diligence. That includes training employees and staff on the various kinds of social engineering techniques. Willingness to give up on older legacy systems that no longer serve the business is big as well.
MSP’s are now playing an incredibly important role in organizations’ overall success. When considering incorporating an Managed Service Provider into your operation, keep in mind that decision is a serious one. Take the time to consider your goals and needs against what the MSP is willing to offer. An MSP partnership is not a one size-fits-all endeavor. Certain MSP’s might focus more a specific industry. Other MSP’s might be stronger in one specific area like security. A managed service provider will have a long lasting impact on your achievements, reputation and success as an organization so make sure to choose correctly.