CIOs Turn to Managed Service Providers to Reduce Cost

Every business has a budget to consider, and this year has been exceptionally challenging. With inflation, labor shortages, and foreign currency fluctuations, many businesses are tightening their budgets and pushing chief information officers (CIOs) to reevaluate their technology investments. In addition, many CIOs are being pressured to adopt emerging technologies that help businesses remain competitive.

To reduce costs and propel business growth, a growing number of CIOs are turning to managed IT service providers to handle their IT needs. Managed service providers (MSPs) offer IT infrastructure, networking, application, and cybersecurity services through ongoing support either onsite or from an offsite data center. With managed IT services plans, businesses can outsource technology operations that would otherwise require an in-house IT team for a fraction of the cost. 

MSPs as Efficiency Drivers

Successful businesses know just how important it is to streamline their operations to save time and money. This especially holds true for CIOs, who oversee a wide range of responsibilities. This can include anything from managing IT staff, developing an IT budget, researching the latest IT trends, creating new IT policies, and overseeing an organization's IT operations.

In response to evolving IT trends, today's CIOs are more focused on how emerging technologies and data impact an organization's operations and productivity. Being distracted by tedious daily IT tasks, however, can hinder a CIO's ability to lead his or her organization to success. If this sounds familiar, hiring an MSP can significantly improve efficiency within your organization.

By partnering with an established MSP, CIOs can take time-consuming IT tasks off their plate and focus on more important tasks in overseeing an organization's IT operations. In addition, quality managed service providers are equipped with a whole team of experts in their field.

They are familiar with common problems that CIOs face and have streamlined solutions to solve problems quickly. This allows your business to have greater adaptability and overcome technical challenges more efficiently. 

Providing Automation as a Service

The IT industry is advancing at lightning speed today, and automation technologies are a key part of that. By investing in automation, companies can eliminate the need for humans to perform certain tasks, thereby reducing overall expenses year after year.

However, adopting automation technologies takes time and in-depth knowledge. By partnering with an MSP, CIOs can gain greater insights into the latest automation trends and expert guidance on how to implement them. Should your organization choose to incorporate a new technology, managed service providers will help you transition smoothly and ensure you get the most out of its features.

While many CIOs recognize the benefit of automation, not all businesses have the staff or the budget to make the investment. Luckily, many managed service providers are now offering automation as a service. All it takes is setting up a connection. MSPs' all-inclusive automation services are proving increasingly valuable to businesses, driving their demand for their services. 

Helping You Save on New Technology

As technology continues to advance, companies must adapt to provide their customers with the best possible experience and remain competitive. However, if you're a small or medium-sized business, keeping up with the latest and greatest technology may be beyond your means. For this reason, many businesses are hiring managed service providers.

By signing up with a managed service provider, your organization will have access to the latest technological advances without having to invest in any equipment or software.

In addition, a managed service provider enables your organization to explore various technologies without paying for installation or licensing. With a managed service provider, your company will be connected to the latest technological developments at a reasonable cost.

Having access to the latest technologies not only improves efficiency and protects your data but can help your business grow and drive more revenue. For technologies that streamline your operations, CIOs and business owners can free up their time to focus on other aspects of IT or business-related tasks. 

Services that Reduce Downtime

The cost of data breaches and data losses can be devastating to a business. According to IBM, data breaches have cost organizations around $4.35 million on average in 2022. On the same note, a downed IT infrastructure can lead to unhappy customers and revenue losses. The longer your systems are down, the greater the likelihood you will lose money.

By hiring a managed service provider, businesses gain access to reliable IT services that prevent data loss and downed systems. Many managed services providers offer 24/7 monitoring, allowing IT departments to detect and resolve problems quickly to get your systems back up and running.

Reducing expenses from data breaches and malfunctioning systems will enable businesses to save money and allow CIOs to redirect saved costs toward other IT expenses. 

Improved Budget Forecasts

Today's modern CIOs are primarily responsible for overseeing how an organization's technology funds are allocated. Typical IT budgets usually factor in IT staff, ongoing maintenance, hardware, software, subscriptions, third-party assistance, and much more. With the help of a trusted managed service provider, CIOs can better plan their annual technology budgets.

With MSP subscription plans, businesses can expect relatively fixed monthly fees in comparison to contracting a third party for occasional IT help. Without a full-time IT department, an organization may frequently need to hire outside IT support for ongoing projects.

In this case, hiring a full-time MSP is often more cost-effective and easier for budgeting. When selecting the right managed service provider for your organization, many of the services are all-inclusive, and you may only need to hire outside consultants on occasion.

Businesses often incur substantial costs to purchase, manage, and maintain hardware and software. However, with an MSP, companies rarely have to worry about fluctuating costs for hardware and software installments, failures, and updates.

In addition, Managed service providers often provide businesses with access to valuable resources and technology as part of their monthly service plans. In the past, businesses usually purchased applications, security, and monitoring from different vendors. With a managed service provider, it's typically all included. 

A Preferred MSP Partner

In today's evolving IT era, working with a reliable IT partner is often mandatory for the success of your organization. Businesses that team up with an experienced MSP often report increased productivity, improved security, and a greater return on investment. 

At Prescient Solutions, we recognize the unique challenges that today's CIOs and IT departments face. Providing a variety of affordable and efficient technology services, we provide the tools to help modern IT leaders tackle any problem they may face.

To learn how Prescient Solutions can help your business streamline its operations and reduce costs, contact our team today at 847-349-4676.


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