In today’s fast-paced digital landscape, businesses rely heavily on technology to streamline operations, enhance productivity, and maintain a competitive edge. However, as technology becomes more integrated and complex, so do the challenges and expenses associated with managing it effectively. One solution that has been shown to deliver IT cost reduction while enhancing cybersecurity for businesses of all sizes is IT managed services. While it seems like you can’t go a week without hearing about a breach at a large organization, small and medium sized organizations are also prime targets. In fact, insurance provider Hiscox’s 2022 Cyber Readiness Report found that cyberattacks on SMBs with 10-49 employees quadrupled from the previous year. In this blog, we will explore how IT managed services can not only save your organization money but also significantly reduce your cybersecurity risk.
6 Ways IT Managed Services Can Benefit Your Organization
- IT Cost Reduction. IT managed services have proven to be a game-changer for businesses looking to maintain robust IT infrastructure without breaking the bank. In fact, a Deloitte’s 2022 research report stated, “Traditional Outsourcing remains focused on cost reduction. 57% of executives indicate the primary driver of Traditional Outsourcing is cost reduction, typically via staff augmentation for transactional business and IT activities.” However, this same report found that cost reduction was not the ONLY reason organizations were outsourcing. It found that outsourced cybersecurity services, in particular, were necessary to acquire crucial skillsets. Deloitte also shares, “In the past two years, organizations have shifted to viewing third-party ecosystems as more than a means of reducing costs: They also serve to close talent gaps and accelerate growth… Executives indicated that cybersecurity is the top external challenge they face in achieving their strategic objectives, and organizations turn almost exclusively to third-party vendors to deliver cybersecurity solutions.” Additionally, when we discuss costs with our clients, we often find that our ability to leverage economies of scale to optimize your IT infrastructure provides a greater array of cybersecurity services at a lower cost than contracting individual technologies from different vendors. Furthermore, since our expert IT team is serving many organizations, we can deliver a stronger, broader range of specialized technology expertise and services at a much lower cost than trying to hire the same breadth of expertise internally.
- Cost Predictability. One of the most apparent benefits of IT managed services is the predictability it brings to your IT budget. When you outsource your IT needs to a managed service provider (MSP), you move from a capital expenditure (CapEx) model to an operational expenditure (OpEx) model. OpEx IT expenses can be very popular for many businesses since the expense can frequently be fully tax deductible. Furthermore, managed IT services contracts are much more flexible than long-term CapEx-amortized projects, so your organization has the flexibility to quickly scale services or reduce expenses to meet your needs or quickly shift to new, evolving technologies as the market changes. This accounting shift can benefit your organization and make it easier to budget for your IT expenses.
- Proactive Monitoring and Maintenance. IT managed services go beyond traditional break-fix support to provide proactive monitoring and maintenance that can identify and address issues before they escalate into critical problems. This proactive approach not only keeps your systems running smoothly but also reduces the risk of security breaches and data loss. With IBM’s 2023 Cost of a Data Breach report finding that the average global cost of a data breach has increased to $4.45 million, proactive prevention is crucial to the financial health of your organization. Our IT managed services packages include advanced monitoring tools and techniques to detect vulnerabilities, malware, phishing, unusual network behavior, and much more. By addressing these issues promptly, we minimize the risk of cyberattacks and data breaches, which can have catastrophic financial consequences for your organization. The cost savings from preventing a single security incident can outweigh the investment in managed services for many years or even decades. For more information, read our case study on how we prevented an attack from a major Russian hacking group!
- Cybersecurity Expertise. Cybersecurity threats are continually evolving and becoming more sophisticated. Protecting your organization from these threats requires specialized knowledge, skills, and resources that may not be readily available in-house. Our IT managed services group has dedicated cybersecurity experts who are well-versed in the latest security trends and technologies. By partnering with the Cleartech Group, you gain access to this expertise without the expense of hiring and training an in-house security team. We can implement robust security measures, such as intrusion detection systems, firewalls, regular security audits, training and more to safeguard your data and systems. This proactive cybersecurity approach not only reduces the risk of breaches but also reduces the potential financial fallout associated with data breaches, including fines, legal costs, and reputational damage.
- Scalability and Flexibility. As your business grows or experiences fluctuations in demand, your IT requirements may change. Scaling your IT infrastructure up or down to meet these changes can be expensive and time-consuming if you’re managing it internally. Our IT managed services packages offer the scalability and flexibility to adapt to your evolving needs. Whether you need to add new users, expand your network, or implement new technologies, we can swiftly and cost-effectively accommodate these changes. This scalability reduces the risk of technology bottlenecks that can hinder your organization’s growth and competitiveness.
- Business Continuity and Disaster Recovery. Business continuity is crucial to mitigating risk and ensuring that your organization can recover swiftly from unexpected disruptions. Our IT managed services include backups that should be a cornerstone of your BCDR plan. In the event of a natural disaster, hardware failure, or cyberattack, your organization can quickly restore operations with minimal data loss and downtime. This level of preparedness significantly reduces the financial risk associated with extended outages, data loss, and business interruption. For more information, read our blog on the importance of BCDR plans.
In today’s digitally driven world, your organization can’t afford to cut corners when it comes to IT management and cybersecurity. IT managed services offer a cost-effective solution to reduce IT expenses while simultaneously lowering the risk of costly cyber incidents. From cost predictability and proactive monitoring to cybersecurity expertise and business continuity planning, the benefits of outsourcing your IT needs to a reputable MSP are undeniable.
By partnering with an IT managed services provider such as the Cleartech Group, you can optimize your IT infrastructure, enhance your cybersecurity posture, and ensure that your organization remains resilient in the face of evolving threats. Ultimately, the savings generated by reducing IT expenses and mitigating risk can contribute to the long-term success and profitability of your business. So, why wait? Contact us and take the proactive step towards a more cost-effective and secure IT environment by considering IT managed services for your organization today.