The growth of modern businesses is driven by data. Due to rapid technological changes, IT requirements are constantly evolving, in addition to ever-increasing security threats and downtimes that can cripple any business. This is where partnering with a managed service provider becomes important. As a result, not only does it assist with smoothing out processes in the cloud, but it also manages cost and security challenges efficiently and in a continuous manner.
It does not matter whether your cloud environment is multi-tenant or hybrid, companies offering cloud-managed services possess the necessary knowledge and infrastructure to manage everything seamlessly. It is for this reason that increasing numbers of fast-growing companies are turning to cloud-based IT service providers. According to a report on managed cloud services, the cloud-managed services market size is projected to grow from $27.15 billion in 2017 to $53.78 billion by 2022, at an expected Compound Annual Growth Rate (CAGR) of 14.6%.
To answer the question of why use managed services, let’s take a closer look at how a Managed Service Provider is beneficial, and how they contribute to the success of these predictions.
Here are 10 Reasons why your business needs a managed service provider
1. Cost savings
If you are running a small or medium business with limited resources, maintaining infrastructure and networks on your own can result in significant cost overheads. In essence, you are purchasing tools in bulk which you may or may not need at present to manage your cloud infrastructure. A managed service provider, however, is responsible for managing cloud infrastructure for clients.
By hiring the services of a managed service provider, you only pay for what you use and when you use it. Currently, the service provider has the set of tools required to set up an infrastructure on the cloud and the staff needed to maintain it. The aim is to reduce operational costs, reduce IT expenses, and to conserve capital budget, so that you can concentrate on business strategy rather than spending time planning infrastructure management.
Another challenge that switching to MSPs addresses is decreasing OpEx spending. With the Pay-as-you-go model, you can procure cloud services that don’t eat up a large chunk of your IT budget. For small and medium businesses this spells huge cost savings.
2. Robust infrastructure
Network infrastructure involves a considerable number of moving parts, and for the components to function smoothly and robustly, it is necessary to have quite a number of processes in place for the proper functioning of each part, as well as a continuous injection of funds to maintain the quality. If you share network management responsibility, you can offload not only expenses but also a substantial amount of infrastructure responsibilities, resulting in further cost savings. In turn, businesses are able to diversify and become more flexible. Moreover, managed cloud service providers offer 24/7 infrastructure management services to ensure the network infrastructure remains in a stable state. By using this approach, it is possible to monitor and scan for security aspects as per standards, in order to ensure that the infrastructure is reliable and operating at an optimal level. MSPs make the task of integrating existing practices into the cloud infrastructure simple, in a way that reinforces enterprise goals and facilitates faster Go-To-Market strategies
3. Simplification of complex processes
The key to managing every single process and task in cloud infrastructure management is agility. In order for your organization to deliver results, your workforce must be diverse, operational flexibility must be strong, and special attention must be paid to factors such as infrastructure compliance and change management.
As a result, one small decision to manage one aspect of your organization internally will lead to the management of a multitude of complex and ever-increasing number of processes at the infrastructure level.
Trusted managed service providers have the processes, infrastructure, and manpower to handle the most complicated problems on a daily basis. Their expertise in the field allows them to pay close attention to every single detail while preparing for any challenges that may arise.
4. Disaster management and data recovery
When enterprises maintain their IT infrastructure on-premise, a disaster or a critical server failure may cause a mess that could adversely affect their day-to-day business operations. In addition, data that is vital to their business processes and overall growth may be lost. Now keeping data recovery processes and tools operational all year round is another overhead that your business will end up taking.
If you are storing all your data on the cloud, even potentially the most catastrophic situation can be just another day at the office. You will experience minimal to zero downtime, which is a big advantage considering that an hour of downtime costs a small business about $8000 and large business an approximate $700,000.
If the host failure occurs, you have standby cloud servers to fall back on, and since everything is hosted on a virtual platform, hardware failure risks are minimized. This is one of the most important reasons for using managed services in the cloud.
5. Automatic upgrades
IT landscapes are constantly evolving, and a new trend appears every day. In most cases, you will either need to make small adjustments here and there or rather consider major upgrades to keep up with the changing requirements and remain competitive. Moreover, on-premise servers represent a significant expenditure for enterprises. Organizations must spend a fixed amount on maintenance and security in order to keep servers functional.
By partnering with an MSP – managed service provider you receive the flexibility and scalability required for you to customize your existing services or introduce new processes and tools to your existing set-up. This is done without disrupting your existing business processes.
6. Better response time
It is imperative to have a quick response time whenever an issue arises, whether it be a new requirement or a problem with the network. This will prevent a small problem from escalating into a catastrophe. If you have signed up with a reliable managed service provider, you can be confident that any unexpected events will be addressed on a priority basis and within the shortest possible time.
In managed cloud services, the provider offers constant enterprise-level monitoring and scrutiny, which not only helps prevent a problem from occurring, but also detects deviations that would otherwise present security threats and compliance issues.
7. Easy access to a contingent workforce
Managing service providers provide a major boost to contingent workforce programs, ensuring you have access to the right and qualified talent at the right time. According to a Randstad Sourceright report published in 2018, 57% of business leaders and decision makers report that they expect to shift more roles to contingent status more often as part of their efforts to onboard the right skills.
In modern times, the right skills of a worker are a combination of certifications and experience. Managed service providers with a strong reputation in the market have access to these skills either directly or via direct access to a variety of specialists that they can deploy on your behalf.
8. Round the clock management
Cloud infrastructures require 24/7 monitoring in order to ensure smooth operations. As part of your agreement with the MSP, you may specify that they monitor the infrastructure at all times, implement patches as needed, as well as conduct compliance and security audits.
Managing your servers also ensures that compliance requirements are met at all times as well as integrating your existing business strategies and policies so that all aspects of your operation are aligned.
9. Focus on core business
Providing 24/7 support, our experts ensure the smooth operation of all your IT systems hosted on the Cloud. When proactive professionals are deployed on the cloud front, you will never have to worry about infrastructure or network failure. It is possible to update and maintain your system from anywhere, with adequate protection against outages. Thus, you will be able to relax and focus entirely on your core business activities.
Consider a vendor who can help you create the perfect blend of private and public cloud, as well as on-premise IT, in such a way that it will be efficient to generate value for your organization. If you possess the right mix, you will be able to easily innovate your products and services.
10. Centralized network
A managed service provider (MSP) manages all servers and applications on the cloud network through a central data centre. Remote network users have easy access to centralized data on the network. Additionally, the cloud provides you with the capability of storing and backing up data on a centralized network. In terms of enhancing the availability of your infrastructure, this is of great importance.
In the end, you must choose the right managed service provider for your organization.
Grow your business with Exponent Solution Ltd.
Exponent Solution Ltd specializes in providing cost-effective IT managed services and solutions. Our experts at Exponent Solution Ltd provide services such as real-time monitoring, continuous automation, fast on boarding, backup monitoring, incident support, monthly security audits, automated ticketing, database monitoring, monthly reviews, and monthly cost audits. These services are provided while you concentrate on the core competencies of your business.