In the business world, digital tools tremendously impact every activity, from managing operations and protecting data to streamlining processes. Technology has become a fundamental aspect, particularly for small- to mid-size businesses (SMBs) , creating new opportunities for expansion and leveling the playing field against larger competitors.

According to a study by McKinsey & Company, digitization is on the rise with the shift to e-commerce and with more customers favoring online interactions over in-person. For businesses to thrive and adapt to customer demands, it is now mandatory to have a modern and robust IT system to provide technical support, hardware maintenance, data management, and network security, among others.

A hindrance for SMBs is their need to keep up with the rapid technological changes. For a lean organization, focusing on core operations and growth while simultaneously dealing with IT issues might be complicated to manage in-house.

This is where Managed IT Services Provider (MSP) comes in. Having a third-party specialist dedicated to handling your IT infrastructure’s operations—including data management, network security, cloud computing, server maintenance, data backup, and end-user support, and more—can be a huge help and driver of additional growth and success for an organization. We’ve compiled this guide to detail some of the benefits of MSPs and whether this solution is the right route for your business.

Common Technological Challenges That Impede SMB Growth

In this modern age, investing in technology is crucial to scale your business quickly. Still, these types of initiatives can lead to frustration and become expensive roadblocks to achieving your objectives without the know-how to take advantage of their full capabilities.

Let’s explore the common technology obstacles SMBs face (i.e. your 5 reasons why an MSP might be right for you) and how your MSP can address them:

1. Network Outages

Unplanned downtime can range from being a minor inconvenience to a complete disaster, and either case is not ideal for the long-term success of any SMB. According to research by Gartner, the average cost of downtime is $5,600 per minute. With productivity stalling, revenue may suffer, causing organizations to miss out on opportunities, incur financial losses, and lose client trust.

Working with an MSP proactively prevents unanticipated disruptions as these partners have the expertise and tools to perform risk assessments, penetration testing, network monitoring, and maintenance to guarantee your organization always remains operational.

2. Data Loss and Inadequate Backups

SMBs are as vulnerable to data loss as large corporations, if not more so. Data loss can devastate your business, whether caused by technology failure, human error, or malicious activity.

In a disaster or cyberattack, a dependable MSP can save the day by providing robust data protection solutions, managing critical files in a cloud-first backup, safeguarding storage, and implementing recovery solutions. It’s always best to prepare and prevent rather than simply wait for a problem to arise and have to respond.

3. Cybersecurity Threats and Vulnerabilities

Businesses of all sizes are susceptible to cybersecurity threats. SMBs are prime targets for exploitation due to their limited resources and lack of procedural knowledge and tools to defend themselves. In fact, 48% of SMBs reportedly fall prey to security breaches.

Delegating cybersecurity obligations to an MSP allows you to leverage the experience of skilled professionals who can offer cost-effective solutions for a high-level of protection, including proactive threat monitoring, data encryption, antivirus software, firewalls, and stakeholder awareness training. Learn more about implementing cybersecurity strategies to ensure your business continuity here.

4. Hardware and Software Malfunctions

Using outdated devices or software can cause problems, as they are prone to performance errors like freezing or crashing as well as pose security risks if not patched regularly. Poor performance and security will hurt your organization’s productivity and sales in the long-term.

Consulting an MSP can take the matter out of your hands and off your to-do list. A skilled MSP can optimize updates and introduce more efficient processes and technologies to your organizational operations to provide timely maintenance, on-going IT support, and troubleshooting. Learn more about managing the health of your IT ecosystem with UDT Managed Lifecycle.

5. IT Staffing and Skill Gaps

Limited resources, budget constraints, and difficulty finding qualified IT professionals can prevent businesses from effectively managing their technology infrastructure. An MSP can augment existing IT teams, offering access to specialized knowledge, 24/7 support, and a wide range of expertise without requiring extensive hiring or training. There’s no need to invest the money, time, and resources to build out your IT team and tools if a MSP can do it far more efficiently with their expertise and tools and at a much better cost for a SMB.

The Impact of Managed IT Services on SMBs

Your time as a business owner is valuable, and you’d rather spend it with customers than worrying about technology. The solution is to hire an MSP to help you with the time-consuming and laborious chore of managing your technological projects and initiatives, allowing you to focus on what you do best—providing outstanding services and keeping your customers delighted.

SMBs that embrace technology have a better chance of success in assuring business efficiency and continuity in the long-term. Those who ignore it take an unnecessary risk that may have consequences to their business operations and market viability. A Managed Service Provider (MSP) can be a valuable asset to your firm, assisting in improving operational stability, scalability, and compliance.

Choosing a Reliable Partner

Maintaining, administering, and monitoring your information technology system is a full-time job. That is why organizations like yours can substantially benefit from the advantages of an MSP that provides round-the-clock support and access to IT professionals.

UDT understands SMBs’ IT problems in moving their businesses forward while remaining technologically savvy. Contact UDT to find out how we can create a managed services plan to keep you up to speed on industry best practices while supporting your goals.