In-house or out of house? The value of Managed Services for the Modern Organization
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- MSPs act as a complete IT Department without the recruitment headaches and high overhead costs.
- Round-the-clock system monitoring means issues are caught and fixed before they become major problems.
- MSPs provide sophisticated cybersecurity protection while training employees and maintaining security systems.
- A good MSP will audit your system to eliminate unnecessary licenses and modernize your technology architecture.
- MSPs turn unpredictable IT costs into manageable monthly fees while providing access to diverse technical expertise.
- Beyond fixing IT problems, MSPs serve as strategic partners helping businesses make smarter technology investments.
The Managed Services Partner (MSP) market is currently worth around £52.6 billion in the United Kingdom alone1. According to MarketsandMarkets, this figure is expected to increase globally to £406 billion ($511 US) over the next five years at a compound annual growth rate of 6.0%2. IDC has also said that managed services deals are expected to increase alongside technology spend over the next year, with $100 billion in contract value signed in 2023 alone3.
There are multiple reasons for this growth in the MSP market. A Gartner poll found that cost savings (44% of respondents) were the highest followed by access to innovative technologies (19%), time savings for IT teams (16%) and peace of mind (8%)4. The MSP has become an invaluable asset for the modern business, providing the right technology at the right time to ensure the business doesn’t get lost amidst the innovation and cutting-edge weeds – ensuring the business invests in solutions that deliver longevity and relevance.
The challenge for many organizations is that it is becoming increasingly challenging to keep pace with both your technology needs and the rapid changes to technology. You end up firefighting technical issues and budget constraints rather than benefitting from the technology is supposed to introduce.
Dedicated: Technology Simplified
MSPs provide you with a dedicated IT department but without the hefty overhead costs and recruitment challenges. Inhabited by teams of specialists with diverse skillsets and areas of expertise, MSPs take on the responsibility for your entire infrastructure and ensure your systems run smoothly while protecting your valuable data from cyber-threats. It is a compelling offering, particularly when one of the most invaluable benefits (other than richer control over costs) is peace of mind.
You get a team that monitors your systems 24/7/365 to detect and repair any issues before they become significant problems. MSPs don’t just prioritize IT, their security capabilities are the equivalent of a security guard watching your digital premises while simultaneously maintaining and upgrading your alarm system, checking your locks and training your employees. The cybersecurity services provided by your MSP ensure that you get access to the constant vigilance and expertise you need to remain ahead of the increasingly sophisticated threats.
And they are both sophisticated and threatening. According to the UK Government, 50% of companies have had a cybersecurity breach over the past year with medium businesses (70%) and large businesses (74%) seeing the greatest prevalence5. According to Statista’s recently released numbers on the yearly share of organizations affected by ransomware, more than 72% of companies worldwide were affected by one of these attacks6. MSPs add another layer of protection to the organization as they remain up to date on the latest security measures and practices, manage security updates and patches, and ensure your backup and disaster recovery systems are in place, and protected.
Cost: An Attractive Value-add
The cost benefits of an MSP have the potential to be significant. Depending on the investment, the extent of their support and the long-term spend, collaborating with a MSP will not only improve operational capabilities, but save you money. Instead of paying for full-time IT staff, expensive on-premises hardware and multiple software licenses, you pay a predictable monthly fee that includes everything you need. A good MSP will also go through your system to find any lapsed or unnecessary licenses, outdated technologies, and areas of vulnerability so they can comprehensively modernize your architecture and streamline your costs.
Mint has developed a comprehensive MSP bouquet of services designed to help companies enhance their cloud and technology investments and gain deeper visibility into their expenditure and planning. There are eight value-added offerings provided within the Mint stable that include:
- A service desk that comes with three-tiered support and clearly defined Service Level Agreements (SLAs).
- Microsoft Azure support from a trusted Microsoft Partner.
- M365 Guardian and Impersonation Guardian built-in to your security profile.
- A comprehensive M365 optimization tool – SurveilMint
Mint offers a comprehensive suite of value-added digital services and comes with a proven track record of delivering high quality services as a trusted MSP. When partnering with Mint, you’re not just outsourcing your IT headaches, you’re gaining a strategic partner.
