Between 2022 and 2027, the managed services market is projected to experience a compound annual growth rate of roughly 12.44 percent. As a result, the size of the global managed services market is expected to almost double over the next several years, from a total size of $161 billion in 2021 to over $311 billion by 2027.
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Between 2022 and 2027, the managed services market is projected to experience a compound annual growth rate of roughly 12.44 percent. As a result, the size of the global managed services market is expected to almost double over the next several years, from a total size of $161 billion in 2021 to over $311 billion by 2027.
Experts recently identified small- and medium-sized businesses (SMBs) as the primary drivers of this growth, with roughly 95% of managed services providers’ (MSP) clients identifying as SMBs with 500 or fewer employees.
Although these statistics may seem shocking, it comes as no surprise that small and mid-sized business owners are facing the brunt of IT challenges in a world where managing IT infrastructure requires increasing degrees of specialization and sophistication. In addition, disruptions to the workforce as a result of the COVID-19 pandemic have resulted in additional disadvantage to SMB owners when it comes to hiring the best IT talent: a staffing shortage and steep wage inflation.
This document highlights some of the key advantages of partnering with a managed services provider and why CPP Associates may be your ideal choice.
The Challenges Facing Small- and Medium-Sized Businesses (SMBs)
These days, SMBs are being forced to contend with a growing number of IT-related risks. In IBM’s most recent Cost of a Data Breach Report, researchers found that compromised credentials, phishing scams, and cloud misconfiguration constituted some of the most common and expensive security breaches that organizations experience today.
These findings tell a clear story: as companies adopt cloud technologies to support an increasingly remote workforce, blind spots and unaddressed weaknesses are creating a massive threat to their data security.
But cybersecurity risks aren’t the only challenge. Businesses must make difficult decisions about how to leverage resources and minimize risks. This is an especially daunting task for SMBs, which rarely conduct operations on a large enough scale to afford access to the latest tools or to hire the specialized IT talent they need.
That is why many companies of all sizes are turning to IT managed services providers to address mounting challenges and ensure the security and efficiency of their IT assets.
The Top 10 Reasons Why You Should Be Using an IT Managed Services Provider
First, a definition. A managed service provider (MSP) is a company that delivers services — such as network, application, infrastructure and security — via ongoing and regular support and active administration on customers’ premises, in their MSP’s data center (hosting), or in a third-party data center. The term MSP traditionally was applied to infrastructure or device-centric types of services but has expanded to include any continuous, regular management, maintenance, and support.
Advantages of an IT MSP Company
Here is a rundown of the TOP 10 REASONS you should consider an IT MSP:
- Prevent Costly Disruptions
- Gain Access to Top Tier Tech Support
- Get Instant Support for Immediate IT Blind Spots
- Lower Operational Costs
- Ensure Regular Preventative Maintenance
- Keep Data Secure
- Improve Your Competitive Edge
- Adapt to the Demands of a More Remote Workforce
- Reduce the Risk of Employee Burnout
- Preserve In-House Bandwidth for Strategic Planning and Innovation
1. Prevent Costly Disruptions
Gartner researchers calculate that each minute of downtime costs a business, on average, $5,600. If your team lacks the resources and training to get your IT systems back up and running quickly, or if your troubleshooters are constantly going from one crisis to another, those downtime costs are adding up to significant losses of time and productivity, as well as long-term damage to customer loyalty and brand equity.
2. Gain Access to Top Tier Tech Support
If your business is struggling to hire and retain the IT talent you need to keep things running smoothly, then you’re not alone. For years, companies have struggled to fill millions of vacant IT positions with qualified candidates.
According to a recent report from the Information Systems Security Association International (ISSA), an organization that monitors the current state of IT security capabilities worldwide, the shortage of skilled cybersecurity professionals recently entered its fifth year. Industry-leading MSPs offer instant access to the highly specialized IT professionals you need to get the job done.
3. Get Instant Support for Immediate IT Blind Spots
IT spending on top-quality assets is often prohibitively expensive for smaller organizations. Without access to the best IT resources available, these companies are at a serious disadvantage and are often at risk of losing their competitive edge to unforeseen, yet avoidable, security and infrastructure risks, as a direct result of blind spots in their IT operations.
As a result, these smaller enterprises are especially vulnerable to security breaches. An IT MSP can provide 24/7/365 network monitoring as well as data back-up and recovery in the event a breach does occur.
4. Lower Operational Costs
By negotiating your IT management costs and services in advance, businesses can gain access to top quality talent and resources for a predictable fee that makes IT budgeting much simpler and more straightforward. Monthly MSP retainers are typically a small percentage of what it would cost to have the same talent on staff full-time.
5. Ensure Regular Preventative Maintenance
Patching and tracking updates for risk mitigation can seem like a mundane task for IT administrators, especially when they are already stretched thin with their normal everyday tasks. But the consequences of not having a consistent preventive maintenance process in place can be extremely damaging.
According to industry estimates, more than 60 percent of security breaches occurred where there were patches available that were not yet installed. An MSP has highly sophisticated systems to continually monitor your infrastructure, schedule regular maintenance and implement patches on a timely basis.
6. Keep Data Secure
Data released by insurance company InsuranceBee found that of the 1,300 SMB owners surveyed in its report on information governance, over 80% of them lacked the funds to cover the potential costs of a cyberattack. Stealing data is an incredibly lucrative activity, and if you can’t afford to shoulder the potential costs, then an MSP is likely the best route to gain that peace of mind.
7. Improve Your Competitive Edge
Today, technology is at the foundation of most innovation in the marketplace, regardless of industry. Not only can an MSP take on the everyday demands of managing a secure IT environment, they can work in a consultative capacity to introduce game-changing technologies to your organization.
Having a highly skilled and experienced technologist on staff is cost-prohibitive for most small to mid-sized organizations. Having access to the same type of talent on an as-needed basis is an ideal arrangement for SMBs.
8. Adapt to the Demands of a More Remote Workforce
Forbes recently disclosed statistics revealing that roughly three quarters of professionals expect pandemic-related transitions to flexible, remote work arrangements are here to stay. These arrangements do offer benefits to all involved, but they also place increasing burdens on IT staff, especially in securing data accessible to employees who are not on-prem. To be sustainable, these changes require additional IT support that can be easily absorbed by an MSP.
9. Reduce the Risk of Employee Burnout
As a result of the shortage in IT professionals, IT teams are facing heavier workloads because of unfilled positions. These demands are leading to increasing rates of worker burnout. By off-boarding ongoing, routine tasks to an MSP, business owners ensure that they are in the best position to retain their in-house talent and institutional knowledge.
10. Preserve In-House Bandwidth for Strategic Planning and Innovation
By offering maintenance and crisis support to your organization, MSPs make sure that your on-staff IT professionals have the bandwidth to think creatively about the future of your business. This strategic planning ultimately places your business in the most ideal position possible as you strive to adapt and innovate for the future.
Why Choose CPP Associates as Your IT Managed Services Provider
CPP’s InVision Managed Services is an assessment-driven managed IT service that provides top tier support to organizations of all sizes. CPP Associates’ subject matter experts are industry leaders, staying up-to-date with emerging IT trends, harnessing the power of leading-edge tools, and employing the most current and effective strategies to monitor your organization 24x7x365.
The three pillars of CPP’s InVision Managed Services include:
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Infrastructure Management: InVision manages data center, compute, and network resources across your organization, using AI to keep your infrastructure primed and ready to provide you with the data you need to make business decisions, automate processes, and lower operational costs.
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End-User Support: Offers remote problem-solving, reporting and resource management through an easy-access help desk and customer portal. We make it easy for your team to create performance reports, maintain systems, and improve productivity.
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Security and Compliance Support: Arms your organization with daily scans and alerts, employing machine learning to support and protect systems on site and in the cloud, archiving, software installation, data migration, and backup and disaster recovery services. Rest assured that InVision will keep you ahead of major disasters by identifying internal and external threats to your IT systems.
There’s a reason why CPP has recently been named the 13th fastest growing solution provider in the U.S. by CRN magazine. To learn more visit our website and schedule a consultation today!
