Why Do I Need an MSP During Inflation Environments?
Businesses throughout the country (and around the world) are coming to terms with the possibility of economic hardship in the near future. Inflation is rising, people are spending less money, supply chains are still disrupted from the COVID-19 pandemic, and most major markets are down.
It’s unclear whether we’re in a recession or headed for one, but uncertainty and anxiety are now common in the business world. During times like these, many business owners and financial managers look to cut costs. But this is also a critical opportunity to invest in the products and services your business needs the most.
During economic hard times, the value of an MSP goes up. If you’re looking for the best, most professional line of support for your technology needs, an MSP could be the answer.
Starting With the Basics: What Is an MSP?
As the name suggests, a managed service provider provides managed services for your IT department, serving as an arm of operations for all your technology needs. Those managed services vary from provider to provider, but they usually include some combination of the following:
- Network management. MSPs can help you plan, implement, and manage your existing network. Whether you’re shopping for the best equipment for the lowest price or are simply diagnosing a network bottleneck, your MSP can help.
- Workstation management. Whether they’re working remotely or in an office, your MSP can remotely manage your workstations, monitoring employees and stepping in when they have issues to resolve.
- Security. Security is one of the most important considerations for your IT department, so it’s also a high priority for most MSPs. These service providers focus on reducing your vulnerabilities, improving the robustness of your defenses, and taking action if and when they detect suspicious activity.
- Compliance. Compliance can be a headache, especially for a large organization. But the best MSPs stay on top of compliance issues so you never have to worry about it.
- Virtual CIO service. MSPs can function as a kind of “virtual CIO,” serving as your Chief Information Officer in making decisions, planning for your future infrastructure, and more.
When the Economy Struggles, Why Do I Need an MSP?
Why are MSPs such a valuable investment during economic hard times? There are several reasons, including:
- Cost savings. Hiring MSP does cost money—usually in the form of a monthly payment—but this is typically much less expensive than hiring, training, and maintaining your own in-house team. On top of that, most MSPs are dedicated to reducing the costs of their clients as much as possible, securing inexpensive equipment, practicing efficient maintenance, and otherwise reducing operating costs significantly.
- Time savings. MSPs can also save you time. Instead of scrambling to do all the IT work internally, you can let a third-party provider handle those responsibilities.
- Cyber risk mitigation. The average cost of a data breach in the U.S. is now $9.44 million, making it one of the most expensive problems a business can face. Thankfully, most data breaches and cybersecurity risks can be easily mitigated with a proactive management strategy—and your MSP can provide one to you.
- Delegation and focus. Hiring an MSP is a way to delegate the responsibilities of managing and overseeing your IT department. If you were responsible for making those technology and management decisions, you’ll be freed up and able to focus on more important tasks. The same is true of your best IT employees.
- Cloud capabilities. In many cases, MSPs recommend businesses migrate to the cloud. Doing so can lower costs, improve security, and reduce the need for onsite maintenance. If you’ve never attempted to navigate the cloud before, your MSP can help.
- Automation potential. Nothing helps your business operate more efficiently quite like automation—your MSP can help you automate a wide variety of workflows and processes. Cut costs and improve consistency by taking advantage of this.
- A competitive advantage. Thanks to these benefits and many others, working with an MSP gives you a decisive competitive advantage, and that’s more important than ever in today’s uncertain economic times.
As the top choice for managed service providers in Knoxville, NET3 IT helps local businesses leverage the full potential of information technology.
What’s Best for My Business? For Steps to Find the Right MSP
If you need an MSP, these are four effective tips for finding a good fit:
1. Prioritize experience.
It’s possible for inexperienced MSPs to provide adequate service, and it’s possible for more experienced MSPs to perform suboptimally. However, experience is one of the best indications of how well your IT service provider will perform. If the organization has decades of combined experience at the helm and has helped serve dozens or even hundreds of clients, it’s a good sign they’ll provide good work for you.
2. Look for specialists.
Different MSPs have distinct service offerings and sometimes serve different niches. In general, specialists perform better than generalists. Look for an organization that has experience with your specific industry and your specific type of business.
3. Understand your contract.
Review your contract carefully before signing it. What are the core responsibilities of your service provider and what responsibilities do you retain? How long does this contract last and is it possible to end it prematurely? What are you responsible for paying and how are you responsible for paying it?
4. Value communication.
Any working relationship can be improved with good communication. Make sure you find a managed service provider that’s willing to openly talk with you and is always available to answer your questions.
It’s Never Been Easier to Boost Your Bottom Line
Need an MSP to help you navigate the incoming economic turmoil? Choose NET3 IT. We know first-hand that the trajectory and sustainability of your businesses largely depends on technology, especially during recession climates. Learn more about how we combine enterprise-level IT experience and industry-leading knowledge to help your organization make the right decisions.