Businesses often find it difficult to manage costs, especially when it comes to IT spending. While many companies would rather cut costs in their IT department, doing so endangers cybersecurity and generates the opposite effect: increased costs. When partnering with a managed service provider (MSP), businesses can cut IT costs without jeopardizing cybersecurity, and can even receive benefits that will reduce costs in other areas of their business.
Read on to learn about five ways a managed service provider can help your business save money.
1. Implement Budget-Friendly Plans
Managed IT providers offer customizable plans that can be tailored to fit your business’s budget. As the business owner, you have complete control over which services you want to include in your plan, and you can expect to pay the same monthly subscription price. When you want to upgrade your services, your managed service provider can easily update your agreement to include these IT solutions.
Unlike in-house IT departments, there are no surprise maintenance and repair fees that pop up, and you don’t need to pay for expensive equipment or licenses. Managed IT providers manage their own systems and have the licenses and training they need to provide your business the best service.
2. Avoid the High Costs of Data Breaches
Cybercrime is on the rise and data breaches can cost your company thousands, if not millions, of dollars. US businesses should take extra cybersecurity precautions because the US has the highest cost of data breaches in the world with an average amount of $9.5 million in 2022.
Hiring a managed service provider can help you protect your data from a data breach with state-of-the-art security solutions. Some cybersecurity services MSPs provide include the following:
- Firewalls
- Encryption
- Multifactor authenticators
- Anti-virus and anti-malware software
- Intrusion detection and prevention systems
3. Save Money Through Increased Efficiency
In 2022, researchers have estimated that managed IT service providers will increase a company’s operational efficiency by 45-65%. Functioning servers and automation are two major ways that IT solutions increase efficiency.
When your servers are running smoothly, your employees can work without interruption. They can execute their tasks and avoid wasting time waiting for slow servers, or experiencing crashes that cause them to lose their work.
Managed IT providers also use automation to take care of simple tasks so your employees can focus on bigger projects. For example, an MSP can automate software updates and patch management. Automation can also be used for monitoring systems so that the MSP can quickly identify and fix any issues before they cause major problems.
4. Reduce the Costs of Personnel
An in-house IT department can be expensive to maintain. You’ll need to spend money recruiting and training employees, providing a salary for each IT staff member, and purchasing all equipment for them to use. Not to mention paying any additional fees to maintain your servers and systems.
On the other hand, a managed service provider can cost a fraction of the total you would spend on your in-house IT department, and you’ll have access to more services and advanced expertise at a cheaper cost. With a managed IT company, you’ll have access to all the latest technology and a team of IT professionals who have a wide range of specialties.
5. Prevent the Costs of Downtime
Downtime plagues every business and can be very costly. The average cost of downtime is $5,600 per minute according to Gartner. Downtime can be caused by a variety of factors such as power outages, weather, hardware and software malfunctions, human error, and cyberattacks. In order to avoid losing revenue, it’s important for companies to prepare for downtime with MSPs.
Managed IT service companies work to prevent downtime before it happens with their proactive 24/7 monitoring solutions. They continuously monitor your systems for any potential issues and work quickly to solve issues before they cause major problems. In the event of a disaster, MSPs have backup plans in place so that your business can continue to operate without interruption and downtime.
Save Your Company Money Switching to Solutions in Data
Businesses are always looking for ways to save money, and one way to do that is by partnering with a managed service provider. At Solutions in Data, we offer a number of services that can help your business save money without compromising quality, functionality, or efficiency.
If you’re ready to cut business costs while improving your company, contact us today. We’ll be happy to discuss your needs and customize a solution that’s right for you.
