MSPs Make Business Leaders Feel More Competitive
The benefit of hiring an MSP isn’t just about technology. In fact, it can help make an SMB or mid-market business more competitive.
More than 68 percent of the more than 1,200 business executives at SMBs or mid-market companies surveyed said that working with an MSP made them more competitive against their peers, according to research conducted and released by Infrascale. By working with an MSP, these business leaders could free up costs, quickly implement new technologies, and protect their reputation in the market.
Cutting costs without sacrificing quality
An MSP helps a small or medium business become more competitive by helping them save costs, which ultimately improves the bottom line or allows them to allocate those funds for other strategic investments. Fifty-one percent of business leaders surveyed said cost savings was their primary reason for hiring an MSP, with the same amount citing that it was more economical to work with an MSP versus hiring internal talent.
Faster time to value on new technology capabilities
Working with an MSP can also help an SMB or mid-market business implement new technologies more quickly, allowing them to speed up the time to value with new solutions, such as cloud (which 97 percent of business leaders said they already leverage some way). Without an MSP, 17 percent of respondents said a new technology solution would take more than three months to implement.
Cybersecurity to protect market reputation
Another way for an SMB or mid-market business to differentiate themselves in the market is through cybersecurity. A robust cybersecurity posture allows a company to mitigate the risk of a data breach or ransomware attack, which could have a significant negative reputational or financial effect. Following cost savings, business leaders cited increased security as their primary reason for hiring an MSP (46 percent). These services include data protection, backup and recovery, and overall cybersecurity solutions.
What not to do
There are also times that an MSP can take away from an SMB or mid-market business’s ability to compete, according to the survey. For instance, 34 percent of business leaders reported a negative relationship with their MSP, often due to high cost or quality. Approximately a third of business leaders said they had fired an MSP due to that reason.
For an MSP, these factors outlined above are useful when approaching a new client or developing an existing relationship. By understanding why a client wants to leverage managed services, the MSP business owner can tailor their services to offer the maximum value to enhance the competitive advantage further. They can help provide in the client’s target market.