Running a manufacturing business is overwhelming. Money management, product development, materials planning, marketing, sales - you need to stay on top of things to take your business to the top. But how can you lessen the load?
By delegating.
And one of the most commonly delegated tasks is IT management. While there are different ways of ensuring IT doesn’t become a big issue in your business, companies can decide to outsource their entire IT department – hence the proliferation of Managed IT.
But what can your business actually get out of Managed IT? ITS, as a Managed IT Service Provider (MSP), has seen first-hand how Managed IT has helped our partnered manufacturing companies Emco Gears and Jet Gasket and Seal Co. These two companies – with our multiple other partnered businesses – have the following advantages:
- Managed IT saves manufacturers money and time.
- Managed IT enables 24/7 IT support.
- Managed IT plugs in gaps in your cybersecurity.
- Managed IT makes meeting IT regulatory standards easy.
- Managed IT protects manufacturers from data breaches.
1. Managed IT saves manufacturers money and time.
The greatest advantage of Managed IT is it’s both a time and money saver. When you entrust another organization to take care of your IT infrastructure, you and your team can dedicate more of your effort to product and service improvement.
How Does Managed IT Save Money & Time?
Saying Managed IT saves time and money is a big claim - so what are the concrete ways Managed IT can help?
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Minimizing IT staffing costs
The first way Managed IT saves time & money is through minimizing staffing costs. One of the most significant business expenses and security risks is your staff. By using Managed IT, you do away with all staff concerns like salary, bonuses, training, insurance, and workplace management.
And it doesn’t cut into the quality of work. All MSP staff undergo training to keep their skills up to industry standards. They also benefit from being veterans in the IT industry; their experience helps them make the best decisions for your company.
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Mitigate risks of hacking incidents
Another way Managed IT saves time and money is by significantly mitigating hacking incidents. Cyberattacks can disrupt the flow of your business, lessen clients’ trust, and cost you significant amounts of money.
Cybercriminals have a lot to gain by hacking manufacturers; they line their pockets with money from compromised businesses. In the first quarter of 2022 - from Business Email Compromise alone - companies saw a $1.8 billion loss.
By getting Managed IT, you’re putting one more layer of defense between you and these criminals.
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Less IT infrastructure to manage
The next cost-cutting benefit is less IT infrastructure. Top-of-the-line machines and skilled staff are already costly - removing IT infrastructure allows for more breathing room in your budget. Gone is the need to buy and maintain any pesky IT equipment.
Instead of buying equipment like servers and firewalls, most MSPs provide hardware and software you can rent as part of your monthly fee. (Though it’s still recommended that you purchase company-specific servers and workstations.)
But removing the difficulty of setting up and maintaining IT equipment is already a big relief for multiple companies.
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Updating inefficient hardware and software
Managed IT keeps your tech up to the latest standard, and while this costs more up-front, it saves money & time in the long run by preventing crashes and data breaches. It also keeps you from being overwhelmed by tech debt.
A smoother workflow is also much more achievable with updated tech than old, clunky equipment. These small improvements cascade into big results over time.
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Preventing downtime and loss of productivity
According to Uptime Institute, “Outages, while less pervasive than in previous years, have become way more expensive. Over 60% of the respondents reported losing more than $100,000 to downtime. Of that 60%, 15% lost over $1 million.” Therefore, your MSP keeps you from bleeding money out during downtime by preventing downtime.
2. Managed IT enables 24/7 IT support.
Manufacturing businesses often entail complex logistics and overseas supply chains. From coordinating with international contacts or getting customers exemplary services, manufacturing companies often need 24/7 support.
Due to their utilization of multiple IT personnel, MSPs can provide round-the-clock monitoring of your network through staff and software monitoring. If you have suppliers in different countries, you can rely on MSPs to get the message to you.
Also, because of specialized staff, MSPs can work together with internal IT. If your internal IT has issues with projects or problems beyond their scope, MSPs can cover for them.
3. Managed IT plugs in gaps in your cybersecurity.
Cyber-attacks have gotten so destructive that President Biden allotted $2 billion for government cybersecurity improvement. With over 623.3 Million ransomware attacks and 5.4 Billion malware attacks in 2021, companies can no longer be complacent in our tech environment.
It’s not a matter of if you will experience a hacking attempt, but when.
An MSP can improve your organization’s cybersecurity efforts; they point out vulnerabilities in your network and provide recommendations to fix them. Also, they will ensure that your systems are up-to-date and up to current security standards by implementing patches, updating your devices and software, and much more.
You don’t even need to be partnered with an MSP to get a free network assessment. Many MSPs allow prospective clients to go through a network assessment to see their IT needs with no strings attached.
Read “What is a Network Assessment? Definition, Scope, and Why You Need It”
4. Managed IT makes meeting IT regulatory standards easy.
From the very start of your production process all the way to distribution, your business has regulations to follow. If you’re handling sensitive personal information and financial data, you have IT regulations to keep in mind.
An MSP can help you stay compliant with these IT standards.
Plus, the requirements for cybersecurity insurance have become more stringent. Your MSP can help you meet these requirements.
5. Managed IT protects manufacturers from data breaches.
According to IBM’s Cost of a Data Breach Report 2021, a data breach’s global average total cost is 4.2 million dollars. Most of the cost is connected to the lost data, loss of customer trust, and loss of productivity.
An MSP helps mitigate these costs by a) providing a strong cybersecurity network and b) managing a complete backup and disaster recovery system. Managed IT keeps a team of people to monitor your IT security and backups and points out common vulnerabilities and what can be done. They also do the hard work of testing these systems to prove their strength.
Ready to take the next step towards Managed IT?
Managed IT is a tool that can bring you peace of mind in an increasingly risky and competitive environment. It may be the best solution for your business with its ability to help you save money, provide 24/7 customer support, improve cybersecurity protection, and maintain IT regulatory standards.
But what now? Can you implement Managed IT in your organization without going over budget?
Read How Much Does Managed IT Cost? (5 Price Factors) to find out. As an MSP, we know how much keeping IT costs low while maintaining quality matters. This article will help you prepare your budget for Managed IT.