Relying entirely on your in-house IT team to maintain your systems can be quite a gamble. With never-ending demands on their time and resources, it can be difficult for internal IT teams to keep up, nevermind keep pace with the latest innovations and changes in the industry. Managed IT services offer a solution to this challenge by outsourcing support to a third-party provider, whether you have a small or large IT team internally, or no in-house IT at all.

What are Managed IT Services?

Managed IT services refers to the practice of outsourcing critical IT management responsibilities to a third party.

The demand for managed services has seen explosive growth in recent years, with the market anticipated to reach a value of $356.24 billion by 2025.

Managed IT services trickle down to the IT infrastructure that supports operations at your organization. As such, when you outsource the management of this component of your business, you could be putting a third party in charge of a range of services, including infrastructure management, system administration, authentication, data backup and disaster recovery, service maintenance, cloud storage, and network monitoring and security.

What Do Managed IT Services Do?

Suppose you are a small to medium-sized business without sufficient in-house IT capabilities to keep things running smoothly. In such a case, you may want to consider partnering with a managed IT services company that comes on as a technical expert. This service provides you with on-site or remote IT support based on your requirements.

Your managed IT services can be responsible for setting up and maintaining your business’ networks and infrastructure. Additionally, they might be expected to provide cyber security services and deliver support services, including troubleshooting. Other functions include managing all of the organization’s wireless and mobile devices, which assist in communication services. What’s more, your managed IT services should help you with managing software and cloud configuration and can be vital during the onboarding of new employees.

What are the Benefits of Managed IT Services?

There are several scenarios that would necessitate partnering with a third-party managed IT service provider. Regardless of the organization’s size, solely relying on your IT department for all of your business needs can take a toll on productivity and can actually be viewed as detrimental to your strategic efforts.

Managed IT services are often essential in the event that you plan to move pertinent data to the cloud, for example. The MSP comes in as a consultant during this cloud migration. Another scenario that could require managed IT services is if you feel that your in-house team needs more time to concentrate on crucial internal projects, which could include business development or other strategic efforts.

Now, consider a situation in which your business is experiencing exponential growth. This will often mean that your in-house IT team has to juggle even greater pressure regarding security engineering, product development, or troubleshooting. In such a case, the most practical business decision would be to invest in a managed IT service provider.

In light of the increased security threats that businesses are facing every day, you might want to embark on a disaster contingency plan for your business data. Having this function outsourced could mean even greater security for you and your critical data.

As a manager or business owner, chances are you have had to scrutinize your IT costs. This is particularly difficult during times when your budget allocation for IT functions is significantly reduced. In this scenario, outsourcing some IT functions can be a more cost-effective option, as you will usually be paying a fixed monthly fee without the extra costs associated with in-house support.

What is the Role of ITIL Within IT Service Management?

IT Infrastructure Library (ITIL) is a framework used by IT consultants during IT Service Management (ITSM). This framework helps implement ITSM best practices as it has a micro-focus on internal IT processes. What’s more, ITIL processes help with monitoring any ITSM initiatives. The framework should help with service evaluation as it is conducted in five stages, including service strategy, service design, service transition, service operation, and continual service improvement. Overall, ITIL will help align IT with the rest of your business, and improve service delivery.

How Much Should Managed IT Services Cost?

One advantage that is often attributed to managed IT services is its cost reduction benefits. This begs the question, what should managed IT services cost?

Note that as you consider enlisting an MSP, you should be aware that its costs will be impacted by a number of factors, including the number of users and servers within the team, the service time required, the amount of data the consultant will be working with, and the evolving needs of the business.

The price you end up paying for your managed IT services will also be determined by the current status of your IT infrastructure and your business’ IT goals. If you’d like to get a rough estimate of how much your managed IT services could cost, check out this IT cost calculator.

Regardless of the amount quoted by a managed IT service provider, your focus should be on the ROI of the investment. Specifically, you should take into account the fact you will have access to a team of seasoned IT experts to take care of your IT needs. This can complement your existing IT staff’s abilities, or it can eliminate the need to establish your own IT department, which can involve a chunk of your time and financial resources. Overall, the cost of bringing in a third party can save on the cost of staffing, support, and downtime.

To remain competitive as a business, you need to constantly be on the lookout for ways to adopt new and complex technologies. Turning to a managed service provider to oversee your IT infrastructure is a surefire way to boost your service delivery and render your systems more effective and secure.

At Electric, we offer a full suite of solutions in remote IT support, security, and expertise. Get in touch today to learn how your organization could benefit from the modern IT solution for small and medium-sized businesses.