The following article discusses the cost of network downtime on business vs. the cost of hiring a managed IT services provider (MSP)
The Cost of Network Downtime on Business
Above all other functions, business owners and managers need to keep a closer watch on IT costs to ensure efficient resource utilization. In most organizations, the IT department is tasked with handling a substantial share of business activities all from finance, marketing, production, and HR. A network failure or IT server error can significantly reduce output and diminish competitive advantage.
There are substantial costs associated with network downtime. This can not only seriously undermine the effectiveness of your projects, but also cause frustration with your team. If you are experiencing frequent downtime, it might be fruitful to consider investing in managed IT support.
What is network downtime?
Downtime refers to the amount of time a business is unable to access its IT system, usually an IT network or server. Typically, downtime is often unexpected and arises mainly due to equipment failure, power failure, or human error. It can also occur as a result of a software bug in a cyber attack. The types of network downtime are many; some of these include turnkey, breaker to breaker, and lock-out/tag-out.
Costs of network downtime
Let us look and compare costs associated with network downtime and that of hiring an MSP to help you give a better idea of why it is cheaper to go with IT managed services. If valued properly, business will realize that the costs of a network downtime are far greater than outsourcing their IT functions to a third-party.
Firstly, it has the tendency to seriously affect employee productivity. The longer the time your employees are without an IT server or network features, the longer their work is put on hold. IT projects or other activities that need to be completed within tight deadlines will face the brunt of delays and cancellation. Businesses involved in the service sector, for instance, will be impacted by slower customer service that can damage their customer relationships.
Secondly, the threat of cyber attacks is also of major concern. Malicious programs, such as spyware, malware, and phishing emails, for example, can damage or acquire access to confidential files and folders. Sales functions can take a big hit if files and folders containing customer details are damaged or leaked.
In addition, software and hardware components can become damaged that may require replacing. This can cause costs to go up by substantial amounts which can ultimately drain profitability.
Costs of hiring a managed IT services provider (MSP)
In contrast, the costs of hiring an MSP can be said to be a lot less than that of network downtime. Firstly, an MSP can offer more robust and efficient IT network services which lead to fewer hours of downtime on an annual basis. The savings accumulated in these hours make a strong case for hiring managed IT serves through an MSP.
Going the MSP route can also be cost-effective in terms of lowering labor costs. The costs of hiring, screening, selecting the right candidates, can be very high, as well as time consuming. In addition, costs pertaining to buying expensive IT servers, maintenance, and replacement, are also minimized under an MSP contract.
In hindsight, businesses can not only save substantially more costs by entering into a contract with an MSP, but also benefit from more efficient IT services. If you are experiencing network downtime, hiring a managed IT provider like i-Tech Support can help your business get ahead.
i-Tech Support, Inc. – The Technology to Achieve More
Established in 1999, i-Tech Support, Inc. offers world-class technology support to help businesses achieve more. With divisions dedicated to managed IT support, advanced technology, cybersecurity, cloud services, network assessments, software and consulting, our full service capabilities enable us to be a versatile technology partner for IT departments and businesses in Florida. We support you with the technology to achieve more.
Does your business need IT support? Contact i-Tech Support: