In 2022, the global managed network service market was worth an estimated $60.35 billion. Come 2028; experts project it to grow to $112.44 billion.
Managed networks are popular because they deliver outsourced network and IT services. These include building, operating, securing, and managing an organization’s network infrastructure. This infrastructure, in turn, consists of computers, mobile devices, servers, and wireless networks.
But why would you even want to hire a third party to manage your network? How can an IT-managed network benefit your business in the first place?
Table of Contents
Below, we’ve rounded up the benefits of network management services, so read on.
Access to the Latest Technology
Managed network service providers (MNSPs) use only the latest IT and network equipment. These include database servers, routers, switches, access points, and cabling systems.
When you hire an MNSP, they give you access to all those technologies. That allows your business to use faster, up-to-date equipment. You can also worry less about downtime since the latest hardware has lower failure rates.
Since you can already use high-tech IT systems, you can rely less on legacy technology. Legacy tech is any outdated hardware or software your business still uses. It’s more prone to failure and security risks since it no longer receives support from its makers.
Lower IT Network-Related Costs
Database servers are some of the costliest IT hardware, costing thousands of dollars. Yet, most businesses need these high-powered computers to store and manage data.
With a managed network, you may no longer have to buy a database server. Instead, you can opt to use the cloud solutions offered by an MNSP. In this case, the MNSP reserves space for your data in its database servers.
With cloud storage, you only pay for the “space” you use, not the entire server itself.
Many MNSPs also offer leasing plans for other types of network hardware. For example, they may let you lease LAN or WAN connections. With this setup, you only rent the equipment.
As a “renter,” you can enjoy lower initial and ongoing costs.
Most MNSPs also maintain the hardware and software they manage. They may even shoulder the costs if they own the equipment and the applications.
Minimize Risks of Cyber-Attacks
Experts predict global cybercrime damages to reach $8 trillion this 2023. By 2025, they project that to exceed $10 trillion.
Without adequate network security, your firm can become one of the victims of such crimes.
Fortunately, the most reputable MNSPs also provide managed IT support services. These often include 24/7 network monitoring and technical support.
Round-the-clock network monitoring lets MNSPs track everything connected to a network. From there, they watch out for signs of intrusion or suspicious activities in the network. The IT team then investigates and resolves detected problems as soon as they occur.
MNSPs also employ network security measures such as firewalls and anti-malware. They use these technologies to block threats before they can invade a network.
Reduce Unplanned Network Downtimes
Downtimes are expensive; they can cost an average of$1,467 per minute. While some downtimes (the planned ones) are unavoidable, most others are. These preventable downtimes are what you call unplanned downtimes.
Unplanned downtimes render IT networks and systems unavailable and inaccessible. They often result from hardware and software failure, human error, and malicious attacks. They can also sometimes occur due to natural disasters.
Now, remember that a managed network receives dedicated maintenance. Thus, it’s less prone to unplanned downtimes caused by hardware and software issues.
The support services an MNSP provides also help resolve issues caused by human error. You and your employees only have to call their technical support department for help.
Don’t forget that an MNSP aims to block, reduce, and fight malicious attacks. If an intrusion occurs, it can still help through immediate isolation. This helps mitigate the damage and losses the invasion can cause.
Ease of Data Backup and Recovery
Data loss can occur due to cyber-attacks and natural disasters. For example, a flood or a fire can damage critical hardware containing business data. It can result in temporary or even permanent data loss or destruction.
A managed network can help reduce such risks with data backup and recovery services.
With an MNSP on your team, you can rest assured of regular data backup creation. These backups then get stored in the cloud or another off-site location. So, even if a disaster destroys your on-site copies, you still have other copies to fall back on.
From there, an MNSP can restore your operations through immediate data recovery. Their expert IT team does this by tapping the backups you have stored off-site or in the cloud. They then upload the recovered immediately onto the network once it’s back online.
Improve Workforce Productivity
Downtimes, including everything that causes them, can significantly impair productivity. After all, work halts when a computer breaks, software fails, or the network is down.
Productivity issues don’t just affect business profits. It can also contribute to workers tiring of their employers. Some have even quit their jobs, citing frustrations with workplace tech as a chief reason.
Since a managed network helps prevent downtimes, it can also help with productivity. And the more productive your team is, the more work they can deliver. That then results in higher business profits and more satisfied customers.
In a way, a managed network can also make employees happy and satisfied.
Enjoy These Benefits of Managed Network Services
As you can see, managed network services have many benefits that all result in higher profits. Plus, they help make your business more trustworthy in the eyes of consumers. After all, over half of U.S. consumers say they’ll likely stop doing business with a brand hit by a cyber-attack.
So, consider investing in professional IT and network management as early as today. The sooner you do, the sooner you can protect your business data, equipment, and profits.
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