Under this subscription model, the client or customer is the entity that owns or has direct oversight of the organization or system being managed whereas the Managed Services Provider (MSP) is the service provider delivering the managed services. The client and the MSP are bound by a contractual, service-level agreement that states the performance and quality metrics of their relationship.
MSPs utilize a broad range of IT expertise to resolve issues efficiently. Unlike break/fix providers, MSPs can employ the latest processes and software to proactively monitor endpoints, keeping systems up-to-date and preventing issues before they arise. Managed IT services are also available 24x7x365, allowing end users to take nights and weekends off while the MSPs do the heavy lifting on tasks and processes done after hours.
An MSP allows your team to focus on innovation and research instead of the mundane trench work that IT teams constantly get stuck in. Instead of having your in-house IT team manage your network updates, patches, support requests, and alerts, you can leave that to your MSP to carry out. It is because of these benefits that MSPs have grown increasingly more popular with businesses, with the market estimated to be worth $296 billion by 2023.
Cloud computing has allowed managed IT services to expand beyond the regions and borders that would constrain the average break/fix IT through the adoption of Software as a Service (SaaS) technologies, as well as Infrastructure as a Service (IaaS) and Platform as a Service(PaaS) also. These capabilities allow managed IT services to scale at a rate dramatically larger and faster than in-house IT operation or break/fix providers.