Cybersecurity has increasingly become a major concern for many businesses all over the world. With advancing technology, the sophistication of cyber attacks increases as well. Without the correct protection in place, businesses can be left in an extremely vulnerable position—namely being exposed to the high-cost risk of cyberattacks.

With these growing concerns taking over, many businesses seek the enlist the expert services of more robust IT support to ensure that they have the vital protection against threats of ransomware, phishing, and other costly data breaches which continue to threaten businesses. In addition to this protection, they want to make sure that they have prompt procedures in place for when things go wrong.

Here’s what you need to know about managing your IT effectively to prevent security breaches and save your business from unnecessary expenses:

Why Break/Fix IT Support Isn’t Effective

In the past, many businesses have opted for break/fix IT services or a single in-house specialist to oversee their IT. While these solutions may have worked in the past, they aren’t viable options for businesses who want to remain protected from modern cyber crime.

The break/fix method (only fixing IT when a problem visibly arises) is dangerous, as this kind of support waits for something to go wrong rather than work to prevent the issue in the first place. And a single in-house specialist simply doesn’t have the bandwidth or resources required to oversee an entire business IT infrastructure and maintain it effectively. Now, the importance of having more comprehensive and thorough cybersecurity services in place is not something that can be addressed by either of these IT solutions.

Managed IT Services fill the gap presented by break/fix IT by offering total managed services to businesses. What’s more, they are more cost-effective than hiring on a whole team of in-house specialists; managed services provide you access to a full-stack team of IT professionals for the cost of about one salaried employee.

cost analysis Managed Service Provider

In addition to cost benefits, Managed Service Providers (MSPs) present an array of benefits that make managing your IT simpler, more secure, and more efficient:

1. They Perform 24/7 System Monitoring

The break/fix model of IT waits for an issue in your systems to arise (such a cybersecurity threat or downtime) before addressing it. The biggest issue with this model is that vulnerabilities in your system that could lead to data breaches or weaknesses that could result in downtime are often invisible on the front-end of technology. Modern IT requires vigilant, proactive efforts to detect and patch any vulnerabilities in your systems.

Managed IT Services, conversely, do take a proactive approach to your IT. An MSP offers 24/7 monitoring of your systems, meaning that any weaknesses in your systems can be identified and repaired before they lead to costly issues such as downtime. This can be a huge cost savings for businesses. In fact, just in the manufacturing industry alone, one Deloitte study estimates that unplanned downtime is costing businesses $50 billion each year.

With 24/7 monitoring in place, MSPs are able to reduce downtime and ensure greater security, which also leads to cost savings in potential security breaches (which cost, on average, $3.92 million, according to IBM.

cost of downtime for businesses

2. Low, Set Service Costs Means Fair Pricing

Many business owners understand the necessity of prioritizing budgeting to ensure a successful profit margin while also covering necessary costs like IT. With break/fix IT, however, businesses are generally frantic to get their systems up and running again to mitigate the costliness of downtime, only to later have to foot an outrageous bill from your project-based provider.

MSPs, on the other hand, come at a set monthly fee, offering continual support both onsite and remotely for an upfront price that you can plan for. MSPs also save you money by giving you access to an entire team of IT professionals at the cost of just one salaried employee, meaning you get access to greater resources and labor bandwidth than a single in-house specialist could offer at the same price.

Additionally, because they are paid on a month-to-month basis, MSPs are highly motivated to improve the efficiency of your systems, meaning they won’t recommend hardware or software that your business doesn’t really need. This can also be a huge cost savings for your business, as a study by 1E called “The real cost of unused software” shows that each computer in every office globally has an average of $259 of unnecessary or unused software.

3. Expert Strategies According to Each Business’ Needs

More often than not, break/fix IT companies will only offer generic solutions to problems within a business without taking important individual factors into consideration. The reality is that project-based IT providers don’t have incentive to get to know your unique business model and provide long-term solutions that will drive efficiency as they work on a one-time basis.

However, Managed IT Providers partner with you in an IT relationship that is expected to increase efficiency within your systems and optimize them for business needs. To earn your continued business, they are dedicated to getting to know your company and its goals by consulting with you on a regular basis to develop an effective IT strategy. Without an IT strategy that aligns with your business strategy, today’s modern, technology-dependent businesses will likely see a big loss in growth opportunities.

In sum, the cost savings of switching from break/fix IT or an in-house specialist to a Managed IT Services Provider are vast and long-term. By investing in an MSP, you are allowing your business to simplify IT budgeting, reduce downtime and associated costs, prevent costly data breaches, increase IT efficiency, and enhance reputation and customer loyalty.