In 2019, 1 in 5 small businesses will fell victim to ransomware. Small to Medium-sized businesses (SMBs) with internal IT support were found to be particularly vulnerable.
That the threat so pressing, cybersecurity should be a top priority in 2021. Partnering with a managed It service provide (MSP) can provide protection, promote business growth, allow for continuity, and aid in disaster recovery.
According to the Ponemon Institute cyberattacks have increased dramatically in the last year. In the United States, cyberattacks increased by 21% in a three year period while data breaches grew by 50% in 2019 from 2016.
The costs associated with cyberattacks are astronomical. By the end of this year, worldwide cybercrime costs are predicted to hit $6 trillion dollars annually. The average cost, per company, in 2019 hit $1.2 million.
Cyberattacks happen every 11 seconds, with SMBs taking the biggest hit. Reported attacks on SMB rose from 60% in 2017 to 69% in 2019.
Globally, the most common forms of attack on SMBs are:
- phishing (57%)
- stolen or compromised devices (33%)
- credential theft (30%)
What is an MSP?
Managed Service Providers, or MSP, are IT companies with industry specialists. They are able to offer a variety of services including:
- cloud computing
- backup and disaster recovery
- manage clients’ IT systems
- hardware and software support
- IT modernization
- and more
MSPs can help provide stability during times of economic uncertainty. They can empower remote teams, help small businesses leverage technology and stay ahead of industry trends.
Why use an MSP?
An MSP can:
- Help prevent attacks and protect your business
- Offer a full range of proactive IT support that focuses on advanced security
- Provide around-the-clock monitoring
- Protect and backup data
- Give real-time threat prevention and elimination, network and firewall protection, security awareness training, and more.
Because Managed It providers identify and fix weak spots in your IT you’ll find that they act as the backbone to the safety of your business. Working with an MSP can allow you to have faster network performance, minimal downtime, disaster recovery, and business continuity throughout.
One of the best things about an MSP is that you have an IT team dedicated to your business for when, or if, a problem occurs. It’s a budget-friendly solution over having in-house IT support staff. MSPs are a proactive way to protect the business you’ve spent time building.
Here are some other ways an MSP can help your SMB.
MSPs provide network infrastructure and support
MSPs can provide the experience, service, and insight needed to help small to medium-sized businesses manage the logistics needed for remote work. With access to industry specialists, MSPs can:
- Configure hardware
- Establish remote connections
- Manage backup and storage
- Employee IT resource
- Make productivity recommendations
With a greater transition to remote work, MSPs can help increase your business's abilities to provide your employees with a safe, easy, virtual work environment.
MSPs help with cloud adoption
Cloud technologies are great solutions for businesses that need highly dynamic IT capabilities. Managed It providers can help businesses leverage a variety of cloud solutions, including migrating your business data and applications online.
MSPs have the ability to offer managed migration plans that help businesses transition their most important workflows and processes safely and easily.
MSPs deliver custom solutions
Businesses changes and markets shift, MSPs allow you to hit business goals while providing the support you need when you need it.
Assist with IT projects
IT projects can be complex. While you may not need full-service support, MSPs can offer IT consulting or short-term project support. MSPs can provide both broad, and highly specific, IT skills that can support business growth.
Forego long-term contracts
With shifting economies, long-term contracts aren’t always feasible. MSPs can provide flexible solutions that customers with all the services and support they need when they need it.
Faster response times
Downtime can be deadly for a business. MSPs offer 24-7 monitoring with access to specialists who have a wide set of skills and knowledge. Managed Service Providers are able to proactively address issues and monitor IT networks to ensure they are working as efficiently as possible.
4 tips for Selecting the best MSP
While there are many MSPs out there, they aren’t all going to be suited to address the needs of your business. How do you know what Managed Service Provider is best for your business?
Keep in mind these criteria when choosing an MSP:
- Level of skills and knowledge – Any MSP should have advanced skills such as database management, cloud technology, security, and cross-platform integration. To ensure that your business is ahead of industry trends, and up-to-date on security, it’s important that your MSP provides can go beyond the basic skills of software installation, maintenance, and upgrades.
- Stability and experience – You need to know that you’re working with someone who is stable and trustworthy. Ask about how many clients they have, their retention numbers, and client references.
- Competitive service level agreement (SLA) – An SLA is a contract that outlines the standards that your MSP should meet. Make sure that it includes information on if they offer 24/7 support if they work remotely or on-site, and guaranteed response/resolution time. It should also outline penalties should they fail to uphold the items outlined.
- Third-party vendor partnerships – Pick an MSP who has an ongoing relationship with the technology vendors (e.g., Microsoft, Oracle, Salesforce) whose products you already use or would like to switch to. Find out what type of partnership they have. The higher the partnership level the MSP has the more expertise they’ll be able to offer your business.
Choosing the right Managed Services Provider is important for the performance and success of your business. If you’d like to learn how networX It Solutions can support your needs, contact us today!