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According to CIO and a 2016 study from CompTIA, an increasing number of small and medium size businesses are collaborating with managed service providers to handle some or all of their IT services. There are several reasons for the increased reliance on MSPs, such as cost savings to enhanced security, expedited disaster recovery and the ability to shift focus to core business priorities.  Here are 4 major benefits of managed IT services:

1. Savings and Enhanced Cost Management

The costs associated with managed services are more predictable and easier to budget. Equally important, managed IT services save companies money. In a separate CompTIA survey, 93% of businesses reported that moving to managed services met or exceeded their cost-savings expectations with savings on budgetary items like equipment purchases, upgrades, and maintenance. Businesses save in part because MSPs benefit from commoditized IT services. They have access to services that are prohibitively expensive for a single IT department like Network Operations Centers (NOCs) and Remote Monitoring and Maintenance (RMM) softwares. These tools not only enhance preventative upkeep but they also reduce costs. Since MSPs have a variety of these tools available they can pass those savings on to their clients.

2. Refocusing on Core Business Priorities

When your IT department has a problem, from equipment breakdowns to security breaches to downtime, it becomes everyone’s problem.  That means precious time is lost, time that could be more productively used on core priorities, like marketing, innovation, and product development. CEOs don’t have the luxury of focusing on the latest IT glitch when they should be focusing on ways to differentiate themselves from their competitors and growing their businesses. Managed IT services free up companies to do what they do best, unhindered by the continual problems cropping up in their IT departments.

3. Improved Network Safety and Security

According to CIO, for companies which moved to managed IT services, increased security was a bigger issue than cost savings: “Enhanced security and compliance was a driving factor for 38 percent of companies of all sizes. ROI/cost savings was a driving factor for 33 percent of companies with 100 or more employees and 28 percent of companies with fewer than 100 employees.” In 2014, 43% of companies experienced at least one data breach, a 10% increase over the previous year. A study from IBM Security found that the average consolidated total cost of a data breach last year grew from $3.8 million to $4 million. MSPs reduce the risk of breaches with more effective, 24/7 monitoring of networks and provision of more reliable system back-ups.

4. More Efficient Disaster Recovery

Your company’s data is your most important asset, but disasters like fires, floods, and cyberattacks are a constant threat to both data and business continuity. Managed service providers are better equipped to recover from disasters than in-house IT operations. As reported in TechTarget, “According to a study from IDC, enterprises that didn’t outsource lost on average $4 million per disaster incident across a variety of business functions (e.g., sales/marketing, financing, e-commerce). In contrast, enterprises that outsourced to a third party lost an average of $1.1 million per incident.” In today’s competitive business environment, companies can’t afford to waste time and money handling the myriad problems that continually surface with in-house IT services. Outsourcing key IT services to MSPs allows businesses to save money, enhance network safety, reduce downtime, and shift their focus back to the core issues which help their businesses grow and thrive.