How Much Does An MSP Cost?
Managed service providers (MSPs) are becoming increasingly popular among businesses of all sizes who are looking to outsource their IT management. MSPs offer a range of services to help businesses manage their IT infrastructure, from network and security management to data backup and recovery. However, not all MSPs are created equal. So, how much does an MSP cost?
It really depends. At some MSP firms, the cost of managed IT might be lower than others, but is it worth the savings?
A Chevy and a Cadillac. They are both cars and will take you where you need to go, however can they do it in significantly different ways. Likewise, there are significant differences between a “Chevy” MSP and a “Cadillac” MSP firm that can impact the quality of service you receive. In this article, we will explore the top 5 differences between a budget MSP and a full service MSP, and how to choose the right MSP for your business needs.
Understanding the Cost of Managed IT
MSP services are designed to help businesses manage their IT infrastructure more efficiently and cost-effectively, since many businesses don’t have the time or resources to manage their IT needs in-house. MSPs offer a range of services, including support desk, network and security management, data backup and recovery, software management, and hardware support. One of the most important things MSPs provide is proactive monitoring and maintenance of your IT systems. This helps prevent downtime and ensures your business runs smoothly. MSPs can save you time and money by handling routine IT tasks and minimizing the need for expensive in-house IT staff.
So, How Much Does An MSP Cost?
5 things to look for when comparing MSPs
- Quality of Service
Full service MSPs generally offer a higher quality and more variety of services than the budget MSPs. The full service MSPs typically have more experienced and highly qualified staff, better infrastructure, and use more advanced technology.
These full service MSPs also tend to offer more than just managed IT services. Some of these MSPs offer Professional services like AI solutions, application development and business process automation.
Other full service MSPs may offer solutions based on Workplace Technologies. This is ideal for businesses that are looking for digital transformation and a modern workplace.
Expect more of a bare bones approach to service from the “Budget” MSPs. They will strip down the fluff and will focus on delivering core services. These MSPs may have to partner with other teams for security or cloud services, however they can deliver quality results on core services (maintenance, monitoring, remote support).
- Response Time
One of the most common things we hear from potential clients is that they are frustrated with the time it takes to get a response from their current MSP for a support issue. When you submit a ticket, you’d like a quick initial response so you know someone is looking into your issue.
Full service MSPs will typically have more technical resources, which allows them to respond faster to IT issues quickly. These technicians will have a wider variety of knowledge to pull from since there is a bigger knowledge base. Full service MSPs also tend to have more sophisticated monitoring and management tools, which can help them detect and resolve issues before they become a problem.
- Customization
Full service MSPs usually offer more customization options than low-cost MSPs. These MSPs can tailor their services to meet the specific needs of business better. This is a result of resources and expertise.
They can also provide more detailed reports and analysis, which can help you make more informed decisions about your IT infrastructure.
The budget MSPs will most certainly make sure your systems are maintained and provide support services, however they won’t be able to deviate much from their core services.
- Security
Full service MSPs have the ability to provide better security tools and services than the budget MSPs. The reason for this is that full service MSPs can afford advanced security teams. A security team can offer more comprehensive security solutions who can identify and mitigate security threats more efficiently and effectively. Good things when it comes to cybersecurity.
- Pricing
Look for an MSP that provides transparent pricing and fits within your budget. Consider the overall value of the services you will receive, rather than just the cost.
Should I Outsource IT Based on the MSP Cost?
When choosing an MSP, it is important to consider your business needs and budget. Here are some key factors to consider:
Service Level Agreements (SLAs)
Look for an MSP that offers SLAs that align with your business needs. Work with your potential MSP to craft an SLA that covers the most important facets of your business. SLAs should clearly define the services you will receive, response times, and uptime guarantees. These is where you can define your expectations from the initial get go.
Expertise and Experience
Look for an MSP that has experience working with businesses in your industry and has staff with the necessary expertise to support your IT infrastructure. One-man shops just don’t have the capacity to manage multiple clients and provide a high level of service.
Range of Services and MSP Cost
Look for an MSP that offers a range of services that meet your business needs. Consider the types of services you require, such as network and security management, data backup and recovery, and desktop support. Some MSPs can offer coding and application development as well. Consider your needs and make a list so you can be sure you are covered.
Customization Services and MSP Cost
Look for an MSP that can tailor its services to meet your specific business needs. The MSP should be able to provide customized reports, analysis, and recommendations that align with your business objectives.
Security and MSP Cost
Look for an MSP that has a strong focus on security. The MSP should have advanced security technology, experienced security staff, and offer comprehensive security solutions that align with your business needs..
Pricing and MSP Cost
Look for an MSP that provides transparent pricing and fits within your budget. Consider the overall value of the services you will receive, rather than just the cost. A budget shop may not provide a quarterly business review, providing insight into your business operations and budgeting.
