Partnering with an MSP brings your business a variety of benefits, such as scalability and reduced overhead. Learn more about managed services cost savings.
Your company likely relies on technology for most business processes, which means you need to dedicate time, money, and resources to managing it. Many businesses choose to build their own internal IT department, but it’s often more beneficial to work with a managed service provider (MSP).
MSPs that offer managed IT services tend to save businesses money in the long run. But how? What are the core areas in which businesses can save money? And how can you get the most value out of your new MSP partnership? Keep reading to find out.
How Managed IT Services Provide Cost Savings
Managed IT services cost savings come in a variety of ways. Let’s take a look at how managed services improve your business.
For starters, once you work with a managed IT service provider, you’ll see significantly reduced overhead. You won’t need to hire as many people or worry about retaining them. You’ll need fewer technological resources in your physical office, and you might even save money on secondary and tertiary items. Because all of your costs are centralized in one efficient location, you’ll spend less money on a month-to-month basis.
Making technology decisions and managing your own infrastructure can be challenging, especially if you don’t have much knowledge or experience in this subject. If you want your business to succeed, you need dedicated experts and professionals to guide you. Unfortunately, these experts are often expensive. If you hire a seasoned consultant independently, they may charge you an exorbitant fee. In contrast, if you tap into the collective knowledge and experience of your MSP, you can get access to a similar level of expertise for a much more reasonable price.
Network downtime is ridiculously expensive for your business. Every minute your systems are down is a minute your company isn’t generating revenue and a minute your employees can’t do meaningful work. Even an hour of downtime can cost millions of dollars. Working with a managed IT service provider greatly reduces the possibility of downtime and makes periods of downtime shorter when they do occur. If your partner can maximize your uptime, they’ll probably pay for themselves.
Fewer Mistakes and Hiccups
When you work with a managed IT services provider, you can feel confident knowing you have true professionals working on your infrastructure. Accordingly, you’ll see fewer mistakes and hiccups along the way. You’ll need to spend less time troubleshooting, so you can spend more time on more important things. And you won’t have as many costly errors and missteps holding your organization back—fewer mistakes means more managed IT service cost savings.
More Robust Resources
A typical MSP will have many different specialists, each of whom has knowledge and experience in one or more specific subjects. Whenever your business has an issue to fix or a new goal to pursue, you can get access to all of these resources simultaneously, tapping into the power of the team. If you were to build your own internal IT department, building this team of specialists might be cost-prohibitive. After all, specialists tend to cost more than generalists, and the cost of recruiting all these individuals can quickly add up.
One of the responsibilities of your MSP is improving and monitoring your security. Data breaches and malicious attacks are on the rise, and even a single incident here could cost your company millions of dollars. You have to clean up the damage from the incident, and you may also face legal penalties and suffer reputational damage. Because working with an external partner greatly reduces your vulnerabilities, most businesses save money on average here.
Efficiency and Work Streamlining
Having better technological resources in place means all of your employees will have access to the tools, connective resources, and shortcuts they need to do their work efficiently. In other words, working with a managed IT service provider is a way of streamlining your work.. You’ll spend the same amount of money on the salaries of your staff, but they’ll be able to get much more done every day.
Working with an MSP also gives your organization more scalability and flexibility. As your business expands to other locations and begins to serve more customers, your needs are going to grow exponentially. Hiring new staff members and building new infrastructure is both costly and time consuming, but if you’re already working with an MSP, you’ll have an easy track for expanding your internal technological resources.
Many MSPs offer cloud-based platforms and services, allowing your organization to access its critical resources and services from anywhere. Not only are cloud-based platforms and services generally less expensive than their counterparts, but they can also support remote and hybrid work environments, which can save you even more money.
The Cost of Managed IT Services
Managed services cost savings are an important part of working with an MSP, but it’s important to note that managed IT services aren’t free. You’ll also have to pay a monthly fee to retain access to that MSP. That said, the cost of a competent partner is reasonable compared to the benefits you get.
How much does an MSP cost? That depends on many variables, including your location, the nature of your business, your IT needs, and the length of your contract.
The Benefits of Managed IT Services
Throughout this article, we’ve talked about the many different managed IT services cost savings. But in terms of benefits, this is only the tip of the iceberg. Working with a competent MSP can also save time, get you better advice and recommendations, and reduce your stress.
Managed Services Pricing
Are you interested in learning more about the price of managed IT services? You might be surprised to learn how affordable managed service providers truly are. Contact us today for more information—or a free quote!