A managed services provider, or MSP, is a company that manages information technology, human resources, and data storage services for other companies. An MSP is a third party that can organize and handle processes that require a lot of administrative time for businesses, giving them more time to use elsewhere. It’s now common for MSPs to provide their services through the cloud, as this makes information more accessible to the companies that hire them.
Managed services can include:
- Data analytics and business intelligence
- Information technology troubleshooting and assistance
- Software and hardware maintenance
- Cloud services
- Data storage
- Administrative tasks (such as payroll)
- Talent acquisition
- Financial resources management
Some MSPs focus on IT services, while others include administrative tasks and human capital management. MSPs are beneficial for companies because they provide experienced professional help in areas in which a company may not yet be equipped. If a business does not constantly need IT maintenance, an MSP is helpful because the business can use those resources just when they’re needed. MSPs also keep a business updated on their technology and how hardware and software are running. They can collect data and analyze it for a business’s benefit. Some MSPs may offer storage-as-a-service (STaaS) so that businesses only pay for what they need, rather than paying a flat rate.
MSPs can not only perform administrative human capital management tasks, such as payroll, but they can also help businesses hire excellent talent if they are a more advanced provider. Some higher-level MSPs can help organizations find employees. If they manage human resources finances, they know the budget and can recommend potential hires and rates accordingly. A good MSP can also understand the current demand for certain services and salaries and convey that to a company, helping them hire employees that they can afford and who are a good fit.