You’ve probably heard the term “managed service provider” being bandied around the office. That’s not surprising, given the scale of the Managed Services Provider (MSP) industry. This sector of the tech industry is already worth over $365 billion worldwide and is estimated to grow at a rate of 6.9% per annum to reach $511 billion by 2029. But what is a managed service provider actually, what services does an MSP offer, and how could these services benefit your business? Read on to find out.

What Is a Managed Service Provider?

In a nutshell, a managed service provider is a company that offers a variety of IT and business services to other third-party companies. An MSP will generally offer these services remotely, from their own premises, and over the internet.

Typically, the services provided will be billed for on a subscription model, with a monthly subscription fee based on a service level agreement signed between the provider and the customer.

Why Use an MSP?

The rapid growth of the internet, the cloud, smartphones, AI, and remote work have opened up a world of new opportunities for businesses worldwide. In addition to facilitating international trade and opening up new avenues for making money, these technologies have also created opportunities to reduce costs, increase efficiency, and boost productivity.

All these factors can positively affect your business’s bottom line while ensuring that you’re up-to-date with the latest technology and trends, and protected against the growing risks of cyberattacks and other digital threats.

Types of Managed Service Provider

A managed service provider will usually fit into one of three distinct categories, although the lines between them can sometimes be a bit blurry. They are:

Full-Service MSPs

These providers offer a comprehensive suite of IT services and utilizing them can be considered the equivalent of outsourcing an entire IT department.

The services offered will usually include managed print services (MSP), managed network services, document management, cybersecurity, and more, which are discussed in more detail below. If you need a full suite of IT services, these MSPs will clear your desk of all your IT requirements.

Specialized MSPs

This type of managed service provider will offer one specialty managed service – such as cybersecurity or data backup – or will specialize in a small set of related services. If you only need specific IT services, such as comprehensive maintenance and supply management for your printer and copier fleet, these MSPs can be a value to your business.

Co-Managed MSPs

These MSPs can be a really good fit when you already have an existing, but limited, in-house IT team. The managed service provider will work alongside and support your existing team, filling in the gaps and handling tasks beyond their expertise or the specific roles assigned to them. For instance, they can provide much-needed help with digitizing and storing your documents, or with migrating some or all of your business functions to the cloud, for example.

Services Offered by MSPs

So, now you know about the different kinds of MSPs. But what specific areas do they cover?

Here’s a brief overview of some of the main services you can expect to be offered by a managed service provider:

Managed Network Services (MNS)

An MNS provider can supply various services related to your business or office network. This can involve setting up a new network or moving your existing network onto new infrastructure, deploying new machines and software, or monitoring and maintaining your network on an ongoing basis.

Managed Print Services (MPS)

These services help you in maintaining your fleet of printers and copiers. The managed print services provider will typically make sure that your machines are adequately stocked with the right kind of ink or toner and paper for your machines, ensure that the drivers and printer software are up-to-date, and conduct regular cleaning and maintenance to keep the machines running smoothly.

Your MPS provider will also typically supply both a support desk and technicians to address any major service issues such as replacing any broken or worn-out parts.

Document Management (DM)

With the sheer quantity of documents being produced and processed by some businesses, management of these documents can become a headache. DM providers offer ways of more effectively storing, managing, and controlling access to your documents.

The solutions offered may include software additions or integrated hardware additions like external hard drives. And related software may allow you to monitor version management, document check-ins, and check-outs, and track any printing and scanning.

Cybersecurity

Gone are the days when all you needed to keep your business safe were tough locks, ferocious guard dogs, or an alarm system. If your business is connected to the internet in any way, you’re at risk of an ever-evolving suite of cyber threats.

These threats can include being hacked and having your data stolen and ransomed back to you, being hit with phishing attacks seeking to gain access to your accounts and sensitive data, industrial espionage, and a myriad of other viruses, trojans, keyloggers, and malware that can, at best, cause disruptions and downtime and, at worst, bankrupt your business.

Cybersecurity providers will make sure your hardware, software, and network connections are safe and secure, minimizing the risk of unauthorized and illegal access. They can also train your employees on how to establish and maintain cybersecurity practices.

Software Solutions

Another category of services that a managed service provider may offer is business software solutions. Perhaps you need customized payroll or invoicing software. Or maybe you just need more efficient software to monitor your network and printer usage. Many MSPs are authorized dealers of specialized business software solutions or have developed solutions of their own to address your business’s particular needs.

Choose the Right IT Partner

Whatever your business IT needs, which can include obtaining specialized equipment to take advantage of the benefits provided by various IT services – the best place to start is with a partner you can trust. If you’re in the Troy, Detroit, or Flint areas, reach out to Elite Imaging Systems to discuss your needs. Since 1994, we’ve provided over 1,500 satisfied clients with the sales, services, and support needed for them to thrive. Contact us today to see what we can do for you.