5 Ways an MSP benefits your bottom line

5 Ways an MSP benefits your bottom line

Most discussions on the benefits of hiring a managed IT services provider (MSP) focus on improved cybersecurity — and for good reason. With services like network security and data backup, working with MSPs amplifies your organization’s resilience against cyberthreats like ransomware, phishing, and hacking.

But MSPs do much more than that. By outsourcing your IT needs to an MSP, you can cut costs and augment your revenue. In particular, these are the ways working with an MSP can benefit your bottom line:

#1. Increase your staff’s productivity

Slow computers, outdated software, and other IT problems stifle your employees’ output and consequently lower your revenue. MSPs are proactive with maintenance and are just a phone call away should any hardware or software issue come up. With their ready assistance, any IT problem is addressed before it can seriously affect your team’s work.

As for your in-house tech department, an MSP frees them from simple repetitive tasks like troubleshooting and repair. This allows them to focus on activities that contribute to your company’s bottom line more directly, such as finding and implementing technical solutions to streamline your processes.

#2. Make your monthly expenses more predictable

IT problems cost money to fix and can occur anytime. For small- or medium-sized businesses on tight finances, the unpredictable cost of IT repair can impair their ability to anticipate their expenses and stick to their budget.

MSPs charge a small monthly fee for their services. These fees remain stable no matter how many times the MSP comes to your office to fix a hardware issue. This way, MSPs eliminate sudden spikes in spending caused by IT problems and help you control IT costs.

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#3. Improve access to new technologies and resources

Being up to date on the latest tools and applications is key to maximizing your team’s efficiency and offering the best products and services to your customers. For example, integrating cloud technology makes your team more productive and enables them to complete their tasks even if they're not in the office.

Among the greatest benefits of working with MSPs is that they make it easier for you to adopt the latest technologies in the market. MSPs can identify points in your operations that technology can polish and get you started with the solutions that support your business goals. Case in point, your MSP can help you migrate your data to the cloud and incorporate more cloud-based applications into your processes.

#4. Save money on payroll and overhead costs

As your business grows or your needs change, you may feel the need to hire more people to man your tech. However, recruitment alone costs a lot of money. When you consider the cost of monthly salaries and benefits, as well as the increase in overhead costs that comes with having more people in the office, you could be looking at a major cut to your finances.

Outsourcing your IT needs to an MSP could solve this problem. MSPs are composed of engineers, technicians, and other IT professionals, all working together to create a well-rounded team that functions better than any in-house IT department. Working with them would be like hiring an entire IT team, but for a small, predictable monthly fee.

#5. Reduce downtime

Solid cybersecurity is essential to a good bottom line. Imagine your business getting infected with ransomware. Because your staff has lost access to your data, they will be unable to do their tasks. Your operations will grind to a halt. Furthermore, you will lose your customers’ trust, affecting your future business prospects.

Working with an MSP is one of the best ways to protect your business from cyberthreats, whether they’re malware, phishing, or hacking attempts. Besides equipping you with the best cybersecurity tools today, an MSP can also train your staff on security best practices. Considering how your employees are your first line of defense against cyberthreats, increasing their awareness of common threats will greatly reduce the risk of a cyberattack on your organization.

Working with an MSP does more than just boost your security. Cutting Edge Network Technologies, for instance, offers a host of IT services designed to empower organizations and set them up for growth.

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