What is a Managed Service Provider (MSP)?

Have you been hearing the phrase managed service provider or MSP used around the office? Not sure what it means? We’re here to provide an in-depth understanding of what an MSP is, how it works, and why it is an essential resource for small and medium-sized businesses looking to stay competitive in today’s fast-paced technological landscape. We’ll cover the different types of services provided by MSPs, the benefits of using an MSP, and the potential downsides to consider. The aim is to help businesses make informed decisions about whether an MSP suits their organization. 

What is an MSP?

MSP stands for Managed Service Provider, a third-party company that provides fully managed IT services to small and medium-sized businesses. 

An MSP helps businesses manage their technology, from network management and data backup to cybersecurity and software updates. They handle all aspects of IT infrastructure, providing businesses with a one-stop solution for their technology needs. In some cases, they may provide their own native services, for example, VoIP phone services.

MSP vs. MSSP 

While they may share a similar acronym and provide similar services, MSPs and MSSPs are quite different from a business perspective. To get an understanding of what your business needs, you need to understand the services they provide.

What Does MSSP Stand For?

MSSP stands for Managed Security Service Provider, which is a type of MSP that specializes in providing cybersecurity services. 

What is an MSSP?

While Managed Service Providers provide a wide range of IT services, including cybersecurity, MSSPs are focused solely on security. They provide services such as threat detection, firewall management, and penetration testing to help protect businesses from cyber threats. 

MSP vs. MSSP – What’s The Difference?

The main difference between a Managed Service Provider and an MSSP is their area of expertise. MSPs offer a comprehensive range of IT services, while MSSPs specialize in cybersecurity. Managed Service Providers are best for businesses looking for a one-stop solution for their technology needs, while MSSPs are best for companies with specific security concerns. However, some MSPs also offer MSSP-type services, making them a good choice for businesses that need comprehensive IT management and specialized cybersecurity services. 

What Services do MSPs Provide?

One of the main reasons that companies choose to work with a managed service provider is that they provide an incredibly wide range of services. Often, it allows business to completely supplement their internal IT departments.

Network Management

MSPs help businesses manage their network infrastructure, including LANs (Local Area Networks), WANs (Wide Area Networks), and cloud networks. They ensure that networks function efficiently, securely, and with minimal downtime. 

Data Backup and Recovery

Managed Service Providers provide data backup and recovery services to protect business data against loss or damage. They help businesses implement backup solutions, test backups to ensure their reliability, and provide disaster recovery services in the event of a data loss. 

Cloud Services

MSPs provide cloud services to help businesses move their data and applications to the cloud. This includes cloud migration, cloud storage, and cloud application management. MSPs help companies to take advantage of the benefits of cloud computing, including reduced costs, improved scalability, and increased reliability. 

Cybersecurity

MSPs provide cybersecurity services to help businesses protect their data and systems from cyber threats. This includes firewalls, anti-virus software, intrusion detection and prevention, and penetration testing.

Help Desk Support

MSPs provide help desk support to assist businesses with technical issues. This includes phone and email support and remote access support for hardware and software issues. 

Software Updates and Patches

MSPs help businesses keep their software up-to-date by managing software updates and patches. This includes updating operating systems, applications, and security software to ensure companies have the latest features and protections. 

Compliance Management

A Managed Service Provider helps businesses meet regulatory requirements by providing compliance management services. This includes services for compliance with regulations such as HIPAA, PCI DSS, and SOX. MSPs help enterprises stay compliant by providing regular assessments, reporting, and advice on best practices. 

Why Businesses Need an MSP 

Whether you have an internal IT department or not, there are dozens of reasons to choose a managed service provider. They can function to enhance your existing department, or take care of things your staff simply just doesn’t have the time or ability to handle.

Cost Savings 

MSPs can help businesses save money by providing cost-effective IT solutions. They help businesses reduce their IT costs by providing network management, data backup and recovery, and cybersecurity services. By outsourcing these services to a managed service provider, companies can focus on their core operations and reduce the need for in-house IT staff. 

Improved Security 

MSPs provide cybersecurity services to help businesses protect their data and systems from cyber threats. They help companies to implement firewalls, anti-virus software, intrusion detection and prevention, and penetration testing. This helps businesses keep their data and systems secure and reduces the risk of cyber attacks. 

Improved Technical Support 

MSPs provide help desk support to assist businesses with technical issues. They provide phone and email support and remote access support for hardware and software issues. This helps companies to resolve technical problems quickly and efficiently, reducing downtime and improving productivity. 

Access to Expertise 

A Managed Service Provider provides access to experienced IT professionals with the expertise to manage complex IT systems. They help businesses take advantage of the latest technology and best practices, ensuring that their IT systems function at their best.   

MSPs Help Businesses Stay Competitive

MSPs help businesses stay competitive by providing access to the latest technology and best practices. They help companies to take advantage of cost-effective IT solutions and improve their IT systems, making them more efficient and productive. MSPs also provide compliance management services, assisting businesses to meet regulatory requirements and remain compliant. Companies can use an MSP to focus on their core operations, knowing that their IT systems are in good hands. 

The Downsides of Using an MSP 

With all types of services, there are things to consider from a business perspective that may mean an MSP isn’t right for you. While the services they provide can certainly help to enhance your company, there are a few factors to consider when making a choice.

Cost 

The cost of using a Managed Service Provider can be a concern for some businesses. MSPs charge for their services, which can add up over time. Companies need to understand the cost structure of an MSP and compare it to the cost of maintaining in-house IT staff. 

Dependence on a Third-Party 

Using an MSP, businesses rely on a third party to manage their IT systems. This dependence can be a concern for businesses, as it means that they rely on an outside party to ensure the security and reliability of their IT systems. 

Quality of Service 

The quality of services of a Managed Service Provider can vary, and businesses need to research to find a reputable and reliable provider. It’s crucial for companies to evaluate an MSP’s reputation and track record and to communicate their expectations clearly to ensure they receive the level of service they need. 

How to Determine if an MSP is Right for Your Business

To overcome the downsides of using a Managed Service Provider, businesses can do the following: 

• Carefully evaluate the cost structure of the MSP, comparing it to the cost of in-house IT staff 
• Research the reputation and track record of the MSP to ensure they are reputable and reliable 
• Communicate their expectations clearly to ensure they receive the level of service they need 
• Establish a strong relationship with the MSP and maintain open communication to meet their needs. 

By taking these steps, businesses can overcome the downsides of using an MSP and take advantage of the benefits of managed IT services. 

Considering a Managed Service Provider for Your Business?

An MSP can bring significant business benefits, including cost savings, improved security, and technical support. A Managed Service Provider can help businesses stay competitive by providing access to expertise and the latest technologies. However, companies must weigh the potential downsides of using an MSP, including cost and dependence on a third party, and take steps to overcome these downsides. 

Using an MSP is worth considering for businesses looking to improve their IT systems and stay competitive. By taking the time to evaluate the cost structure of the MSP, researching its reputation and track record, and communicating their expectations clearly, businesses can reap the benefits of using a managed IT service provider.