What is a managed service provider?

Running a business is challenging enough without the added complexities of IT management. Cybersecurity threats, compliance regulations, and system maintenance can be time-consuming distractions. That’s where a managed service provider (MSP) can help. An MSP simplifies IT management. Giving you the agility and security to stay competitive.

We explain the different types of managed service providers, why businesses use them, and how MSPs offer a "single pane of glass" approach to managing your IT infrastructure, cybersecurity and more.

Managed service providers

So what is a managed service provider? An MSP is a company that remotely manages and monitors your IT infrastructure on a subscription basis. Depending on your needs and budget, they can cover everything from network maintenance to 24/7 technical support, cybersecurity, and compliance management under one roof.

They’re especially handy for SMEs who might lack resources. Instead of building an in-house team or relying on expensive external support. You can access expert services and cutting-edge technology for a fraction of the cost.

What are MSPs used for?

MSPs offer a wide variety of services. Making them a versatile solution for different business needs, including:

• Managing IT infrastructure

MSPs oversee and maintain your IT infrastructure, including servers, databases, networks, data backup and recovery, and more. Keeping things running smoothly and cutting down time.

• Technical support

Offering round-the-clock support, MSPs can resolve everyday issues. These include login problems, connectivity errors, or software glitches, freeing up internal resources.

• Cybersecurity

MSPs handle crucial cybersecurity measures, like installing and managing firewalls, antivirus software, and intrusion detection. To keep your business safe from cyber threats. They also monitor systems for suspicious activity and make sure your cybersecurity practices meet regulatory security standards.

• User access management

By looking after user access accounts, MSPs ensure people have the correct permissions. Protecting sensitive data and preventing internal security risks.

• Supplier and contract management

Managing third-party relationships and contracts can be a hassle. MSPs can check contracts are up-to-date, and that suppliers and service providers are delivering as promised.

• Compliance and risk management

MSPs help you navigate a range of industry-specific regulations so you stay compliant. They also help identify and reduce compliance risks. Preventing fines and legal headaches.

• Financial services

Some MSPs offer extra services like payroll management and financial tracking. Which help to streamline internal operations even further.

What are the benefits of managed service providers?

Why get a managed IT service provider? Let’s break down the key benefits.:

1. Cost efficiency

Predictable monthly subscription fees make budgeting simple. MSPs also eliminate the need for costly investments in IT infrastructure and people.

2. On-demand expertise

Get immediate access to specialists who can handle complex tasks without the need for expensive consultants or additional recruitment.

3. 24/7 monitoring

24/7 monitoring keeps an eye on your systems even when you’re closed. Spotting and resolving issues quickly to avoid costly downtime.

4. Scalability

As your business grows, so can your MSP services. Whether you’re boosting your IT infrastructure or expanding your cybersecurity processes, MSPs can adapt to your changing needs.

5. Improved security and compliance

Cybercriminals are continually developing ways to exploit weak spots in your cyber armour. Using the very latest solutions, MSPs protect against threats. And keep your business safe from legal and financial repercussions.

6. Proactive problem-solving

Instead of waiting for issues to escalate, MSPs proactively identify and address minor issues before they become major problems.

Types of MSPs

There are various types of MSPs on the market, each catering to specific business needs, including:

• Pure-play MSPs

Pure-play (or lower-level) MSPs focus exclusively on providing managed IT services, rather than branching into hardware sales or software development. Their main job is to handle tasks like network management, cybersecurity, cloud services, and day-to-day IT support. Making them ideal for small to medium-sized businesses.

• Staffing legacy MSPs

A staffing legacy (or mid-level) MSP typically provides an extra layer of services that can appeal to bigger businesses. They often have roots in supplying IT services or people. But have expanded into MSP services like system monitoring and reporting, and installing and upgrading software.

• High-level MSPs

High-level MSPs offer more advanced and strategic services. Such as cloud infrastructure management, data analytics, and enhanced cybersecurity. They typically work with larger companies with more complex IT needs.

A managed service provider is not just an IT partner. They’re a strategic asset that can help you streamline operations, enhance security, and stay compliant. With a flexible, cost-effective, "single pane of glass" point of control.

Want to learn more about how MSPs can benefit your business? Speak to one of our V-Hub Digital Advisors for 1-2-1 support.