There has been steep growth in demand for managed services lately. Going by the numbers, it is evident that the year belongs to the managed services industry. From USD 161.37 billion in 2021, it is expected to grow at a CAGR of 12.44%1 for the forecast period between 2022-2027 to touch USD 311.32 billion.
Managed services offer multiple benefits to companies to help them focus on their core expertise. While doing so, they help these companies reduce their IT costs by 25-45% and increase operational efficiency by a whopping 45-65%. In this fast-paced, technology-driven world, downtime cost per hour is too much to bear. 25% of the companies said this cost averages between USD 301,000 and USD 400,000 per hour, making managed services an absolute need of the hour.
It is now more important than ever to ensure that the speed of application deployments aligns with the speed of development. What organizations now need is application maintenance and support. Managed service providers or MSPs can deliver result-based outcomes thanks to the advanced analytics and reporting they continuously leverage to measure the impact of technologies.
Clearly, there’s a lot in store for those who choose the right managed services for their business. What matters, though, is how you select them. But first, we need to understand what precisely managed services offer.
Managed services help shift the focus on primary operations
Once a business is able to focus on what it set out to do, everything falls into place. Operations become more efficient, costs are under control, and productivity continues to grow. Managed services will continuously monitor every aspect of business operations to improve, support, and resolve important functions while complying with industry regulations and best practices.
While every MSP will promise the best-in-class services, you must choose the right one with due diligence. You will have to look for certain must-haves in the service provider.
The top 5 are as follows:
Puts you in the driver’s seat – You don’t have to relinquish control once you have an MSP on board. The right one will make strategic plans per your business goals and ensure that your performance and growth become their primary focus. Managed services will provide the necessary hardware, services, or technology support to which you may not have access. But whatever they do will revolve around you and your needs.
Is flexible enough to accommodate your unique needs – Flexibility matters, especially in multi-vendor environments. The right MSP will foster collaboration and help integrate new systems with old ones seamlessly. Many organizations opt for a hybrid environment with servers in the cloud. Your MSP will have the right options, enabling high flexibility and customization.
Is highly process-driven – Consistency is important to ensure tangible outcomes. Top-tier managed services understand it well and ensure well-defined processes are in place for constant refinement and iterations.
Reviews performance metrics – Modern business environments require frequent reviews and end-to-end insights into business metrics to help businesses improve. These metrics empower organizations with decision-making capabilities and data to create strategies and enhance employee engagement, customer experience, and market position. MSPs provide increased visibility into processes with easy-to-understand reports. By doing so, they also ensure service levels are continuously being met.
Adheres to core values – A strong company culture with guiding principles and core values is essential for your company and the MSP you choose. Only then would they be able to have employees with high morale and a sense of responsibility to address your needs. It is therefore important to know the kind of culture MSPs cultivate within their organizations.
The 3 C’s that will define your hunt
Business leaders often look for the 3 C’s while looking for suitable managed services. These are namely:
- Cost – The costs saved on downtime are huge. Especially since they get instant access to the technical expertise needed to fix issues immediately, business leaders see managed services as a way to maneuver through a highly competitive tech talent landscape.
- Control – This seems a bit counter-intuitive since the fact that you got managed services into the picture means that you will not be controlling your business environment alone. But managed services have provided the right mix of services and solutions in a way that you have complete visibility and control over your environment.
- Consolidation – Managed services offer a way to consolidate their technology spending and operations using advanced technologies. Irrespective of the domain, MSPs allow you to reduce critical services under a single managed umbrella to get a better grip on your business.
An international NGO sought the technical expertise of Trigent to reduce its burden and build an independent and standardized framework for maintaining all its applications. Trigent’s robust Application Maintenance program reduced the turnaround time for issue resolution from days to hours and ensured 99.99% availability of applications to customers. Most importantly, it reduced the organization’s total cost of ownership by an incredible 30%. Significant cost savings, control over strategic initiatives, and a centralized repository as a knowledge base for different teams made managed services from Trigent the perfect choice for the NGO.
Here’s what you can expect from managed services
Cloud adoption and automation
While enterprises are not new to the concept of cloud, they lack the know-how to manage multi-cloud environments. Moving the enterprise to the cloud is often a herculean task for most and just 5% of enterprise IT spending2 is actually going towards the cloud.
In the absence of skills and infrastructure, they need the right managed services provider to help them adopt cloud technology and scale using consumption-based pricing models. Automation being on everyone’s mind, it helps to hire a managed services provider to take a few redundant tasks off their plate with custom automation.
Trigent has empowered a global justice organization by building a centralized, process-driven automated IT infrastructure that not only connects its offices across 20 locations but also minimizes delays in delivering justice. By doing so, Trigent helped them reduce operations costs by up to 40%, increase uptime by 99.9%, and ensure 90% compliance on server patch management.
Blockchain and IoT
There has been an exponential growth in the number of connected devices in the past few years. Emerging technologies like blockchain and IoT are critical for staying relevant in today’s market. The global blockchain IoT market stood at around USD 269.2 million in 2020 and is now predicted to grow at a CAGR of about 47.5% to touch USD 2,540.5 million by 2026. Managed services providers can help identify knowledge gaps and optimize business strategies with these technologies.
A global technology leader leveraged Trigent’s expertise to make their portal application work seamlessly across multiple browsers and devices. With cloud infrastructure and IoT, the application has been able to troubleshoot remotely and grow the customer base by more than 60% in less than 12 months.
A recent study confirms corporate networks suffered 50% more cyberattack attempts per week in 2021 as compared to the previous year. Furthermore, another report revealed that 66% of businesses have experienced a cyberattack in the past 12 months, the most common attacks being phishing/social engineering (57%), compromised/stolen devices (33%), and credential theft (30%).
The right MSP can identify touchpoints that are most vulnerable to attacks and build robust solutions to secure and monitor them continuously. Given limited IT budgets, companies often lack the skills to manage security needs on their own. Managed services play an important role in implementing and optimizing security measures to safeguard the security of the entire ecosystem.
Trigent helped a US-based waste and recycling services company strengthen its IT infrastructure security and enhance its layers of protection to the company data and mobile apps. It also deployed a Multi-factor Authentication (MFA) for its 500 employees, thereby reducing password fatigue. A proactive security posture is now helping the company protect its identity, devices, and data effortlessly.
Managed Services from Trigent
Managed services are the glue that binds diverse business environments. They enable businesses to operate at high velocity and reduce operational overheads. Not to forget the flexibility they offer to move workloads wherever required.
Business leaders acknowledge their role in solving the performance and productivity puzzle. For this very reason, organizations seek managed services from Trigent. We have made a difference across diverse domains and use cases with carefully curated innovative solutions.