The Average Cost of Managed IT Services

By 2025, it’s estimated that around 60% of businesses will rely on managed IT services.

If you’re running a company in 2023, you must prioritize IT in order to keep up with the competition. No matter what sector you operate in, there’s going to be technology involved in day-to-day operations.

A managed service provider will ensure that you’re protected against cybersecurity threats. They’ll also ensure that your business is running as efficiently as possible, in addition to troubleshooting problems that arise.

In starting a business, however, you’re going to be on a budget. Today, we’re going to break down the costs associated with IT service providers while explaining some of the benefits of hiring one. It might seem like a big expense, but keep reading and you’ll see that the ROI makes IT services well worth it.

What Does a Managed Service Provider Do?

When you hire a managed IT service provider, you get a team of people that are capable of looking after the tech side of your business. You can opt for as much or as little help as you need. Whether that’s Office 365 support, cybersecurity assistance, or a variety of other things is up to you.

With most managed service providers, you’ll pay an agreed-upon fee (more on that later), and the burden of running your own IT is taken from you. The most common services that an IT service provides involve managing servers, devices, and cloud computing.

You may need an on-site technician to help you fix a piece of equipment or you may need someone to provide assistance to your employees who don’t understand how your system works. All of this and more fall under the banner of managed IT services.

One of the most important things that managed services looks after is business cybersecurity. The cost of cybercrime is projected to go over $8 trillion in 2023, with a single attack costing businesses an average of $18,000.

Cybercriminals are always coming up with new types of cyber attacks, so it’s important to remain a step ahead. Your security provider will provide 24/7 monitoring.

Preventing cyber attacks is a full-time job. If they do happen, however, your MSP will act accordingly and prevent any data from being lost. When you lose customer data, you’ll start to lose your reputation as a business.

Benefits of Managed IT Services

Now that you know what an IT service company brings to the table, it’s time to discuss the benefits of hiring one. As you may have guessed, IT service providers provide a sense of security that you can’t get otherwise.

Knowing that there’s someone somewhere looking out for cyber threats is enough to bring peace of mind to any business owner. This makes the cost of hiring an IT provider worth it ten times over, but there are other benefits to consider as well.

It may seem counterintuitive to say that outsourcing IT saves you money, but it’s true. When you compare the cost of IT services to putting a full-time IT person on the payroll, it becomes clear what the better choice is.

The amount of knowledge that an IT service provider brings to the table eclipses most in-house IT departments as well. You’ll get a wide range of expertise and the most up-to-date equipment and software baked into your monthly fees.

How Much Do Managed IT Services Cost?

So, what is the actual cost of managed IT services? 

As we’ve mentioned above, what you end up paying depends on what you need. An IT company can handle every piece of tech assistance that you could possibly need, so it’s a matter of deciding what that is.

High-quality IT service providers will consult with you on your budget and needs. From there, they’ll be able to give you a quote for their monthly services. It’s always a good idea to talk to multiple companies and get multiple quotes to expand your options.

To get a clearer picture of how much your IT services might cost, it’s best to look at some of the factors that affect cost.

Factors That Affect IT Service Cost

First, it’s important to know that IT service providers can charge in a variety of ways. They may charge you per device, per user, or per hour. If you’re looking at packaging a variety of services together, they may charge you a flat rate per month.

Things like remote monitoring can be charged on a per-device basis, while a company with multiple employees using multiple devices may get a per-user charge. It’s important to recognize that each company does things a little differently.

The type of support you need is a big cost-determining factor. If you’ve got an especially large IT network with lots of workstations, users, and servers across multiple locations, it’s going to cost more. Small businesses that don’t require as much attention cost less.

How much data you’re looking after is another major factor. Basically, the more data going in and out of your servers, the more cybersecurity resources your company needs. More data also requires more equipment for storage and backup.

If you’re asking your managed service provider to update and manage your entire IT system, that’ll add to your costs as well. IT services and support like IT support Rock Hill SC are capable of customizing the tech side of your business with the latest and greatest equipment. They can also train your staff on how to use the new system.

By choosing a complete IT overhaul, you’ll have to work with your IT company to nail down pricing.

Find the Best Managed Service Provider for Your Needs

Now that you understand a bit more about the cost of managed IT services, it’s time to get some quotes. Every company’s needs are a bit different and needs are the ultimate deciding factor in how much outsourcing your IT will cost you. The best thing to do is consider your main needs and contact multiple providers for quotes.

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