5 Ways MSPs Help Organizations Save Time & Money

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When it comes to outsourcing some or all of IT supports services to managed IT service providers, cost reduction often is the topmost priority. Although it is the biggest selling point for managed IT service providers, they often don’t explain how they will help saving money in real time.

At Whitehats we believe every client has different requirements and needs of IT support. The costs of IT support, maintenance and management may vary business to business due to this difference. A reliable IT managed service provider should be able to handle each business differently according to specific business needs not necessarily iterating what they have accomplished for entirely different business.

This blog post is meant to explain how switching to managed IT service provider can actually help you save money.  In the first part of this blog, we will review how much money companies are saving by switching on to IT managed service partner. While the second part of this blog discusses different ways through which IT spending can be reduced.

Do MSPs really save you Money?

As discussed earlier the cost saving through MSPs varies from business to business.  However, many recent studies show using MSPs does save money regardless of how these savings work. A CompTIA survey reveals that over 400 businesses who use the services of managed service providers reported that

  • At least 46% companies were able to reduce their budget by 25% or more.

  • 13% out of these 46% cut their IT spending by more than 50%.

  • 50% reported annual costs decreased somewhere between 1% to 24%.

The results of the above-discussed survey show that reported cost savings are not insignificant by any means. The main question is now how these companies might have reduced costs with the help of IT managed service partner. Remember one thing; there is no one size fits all formula for getting your business at the same level. However learning ways MSPs can help save money may provide you a good logical reason to think positively about it.

Different Ways MSPs Save You Money

  • Increased Reliability and Uptime.

Unplanned downtime and technical issues can be disastrous for organizations it not only cripple down productivity but can also result in loss of business due to service unavailability. Every time employees are working to fix the technical problem they are not working on something that directly benefits the organization in making money. MSPs usually through remote monitoring and management services can keep an eye on your system and resolve technical issues quickly as possible.

  • Improved Vendor Relationships.

The type of technological infrastructure used by businesses is becoming highly complex. There are wide varieties of devices from different vendors that mean in order to look after these devices organization will have to maintain relationships with multiple vendors. In addition to that, all of these vendors will have separate contracts with different pricing structures and warranty limitations and schedules. All of this information is a lot of hassle for companies that may require dedicated staff to track and maintain all this stuff. If not it may result in mistakes, missed patch-ups and upgrades. With MSPs, all issues related to vendor management will be looked after by the third party and you will not have to worry about it. As a result, your employees will be free from these responsibilities. As a result, the costs associated with vendor management will be reduced. In Many cases, MSPs will be able to get your devices at a reduced price due to their relationships with vendors.

  • Better Proactive Maintenance.

As IT services are becoming more critical for businesses, preventive maintenance has become an important aspect of making sure that your services remain operational and fully functional all the times. In order to optimize the lifespan of devices and operating system update and patch management is essential. It is also important to monitor RAM and network bandwidth utilization so in case there is any issue with it can be corrected in a timely manner. This proactive maintenance prevents losses as it may reduce errors, hardware failures or security risks resulting in significant savings.

  • Improved Business Process Efficiency and Productivity.

A standardized set of business processes is important for any organization to be productive. However, employees may not follow these standardized way of doing things and may alter them to do it easier. This inconsistency in business processes may result in reduced productivity. With the help of MSPs, you can not only standardize your business processes but can save a lot of time and money as result of it as well.

  • Improved Security Posture.

Security is a most important emerging issue. In many case,s compromised security as a result in financial losses along with critical data. With the help of MSP, you can significantly improve your security posture. That means you will have to face fewer security breaches and as a result, there are reduced chances of any financial loss or damages. MSPs are well aware of current information security related threats and can detect them before they become a vulnerability.

Interested in knowing more about how managed IT service provider can help your business save money? Contact us and talk to our team.

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