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How Co-managed IT helps your business save money

Lily Howell Jul 13, 2022 11:59:26 AM
Two male engineers working together on a Co-managed IT project

Developing your own IT infrastructure requires time, skill, and money. However, IT gets dealt the short straw because the return on investment (ROI) isn’t always obvious. Therefore, many in-house IT departments are underfunded and understaffed.

At Netitude, we’ve spent 20 years helping hundreds of businesses manage their IT. We know that maximising your technology is essential in today’s business landscape.

An overworked and understaffed internal IT team won’t be able to provide the level of support your business needs, leading to inefficient systems, significant downtime, and low team morale and productivity. Or worse, it could leave you open to cyber-attacks. All of which will cost you more than if you’d just invested more in your IT. 

So how do you keep the IT team you’ve built and invest in your technology without majorly impacting your bottom line? That’s where a co-managed service model comes in. 

In this post, we’ll help you understand how choosing a co-managed solution is an investment that will save you money in the long run.

What is Co-Managed IT? 

First, let’s define what it is and how it works. Co-Managed IT is a solution where a managed service provider (MSP) partners with your in-house IT to support your technology infrastructure. The MSP allows you to supplement your existing IT staff’s skills by filling in any knowledge gaps your team might have. 

For instance, say your current IT department is excellent at handling the day-to-day fires that arise in a typical workday. However, they struggle to get to other important tasks like checking data backups or other important security tasks. Or, maybe it’s the other way around, where your IT department is focused on security but needs service desk support to assist employees with everyday issues. 

Co-managed IT has many benefits, including covering the gaps your team is struggling with to ensure your tech gets the level of support it needs. However, Co-Managed IT doesn’t just build on your team’s skills. It also gives them better access to tools and software. 

Outsourcing IT services can provide an effective solution regardless of your IT department’s current needs. Co-Managed IT aims to help your existing IT team do their jobs more effectively rather than replace them entirely.

How does Co-managed IT help businesses save money? 

Support from an MSP can lead to significant cost savings for your organisation in the long term, although some initial investment may be required. Here are five ways that Co-Managed IT can help your business save time and money:

1. Reduces downtime 

What’s the use in waiting for things to break before getting involved? Co-Managed IT can effectively reduce downtime by ensuring your machines are always well-maintained, your backups are up and running, and your team gets support when needed.

A good MSP will also proactively maintain and monitor your entire network. As a result, they can detect and deal with problems before they occur, often without you ever knowing there’s been an issue. They should also predict when you need to change or upgrade your devices, software, or security, thus reducing unexpected spending and encouraging better budgeting.

Research has found that technical faults cost UK companies an average of £4,300 or £258,000 per hour. So reducing downtime by getting your systems back up quickly can save the business thousands that you otherwise would have lost due to extended outages.

How much would downtime cost your business? Download our downtime calculator to  find out.

2. Allows in-house IT focus on business-critical tasks

Another benefit of having co-managed IT is that it allows you to maximise the team you already have. Your IT team can shift their focus, play to their strengths, and leave everything else to your MSP. It also helps your IT staff from burning out, enabling them to put more energy into essential tasks. 

3. Ongoing expert advice and guidance

When your IT needs updating, it should be done with the future in mind. Imagine spending thousands on a new server, only to realise that the cloud would be cheaper, offer more features, more flexibility, and better connect a workforce. 

A good tech support package should include a Virtual IT Director to advise on technology, answer your questions and look for ways to improve your business IT with the future in mind. 

4. Extends the life of your equipment

Your IT partner will take care of the maintenance of your technology. Ensuring that your machines are up-to-date with the latest software versions and security patches can extend the life of your devices. The cost of purchasing new equipment can add up over time. That’s why maximising the life of your machines can save you a lot of money down the line.

5. Improves your cyber security position

The cost of dealing with cybercrime is on the rise. In fact, according to a data breach report by IBM and the Ponemon Institute, 2021 had the highest average global cost in 17 years, rising from £3.26 million to £3.53 million. 

While cyber-attacks are costly, teaming up with a reliable MSP to help improve your cybersecurity position can prevent that outcome. From helping you stay in line with compliance regulations to providing your in-house IT with the best security tools, co-managed IT can help you achieve your security goals.

Responsible IT partners will also offer security awareness training. According to Verizon’s latest Data Breach Investigations Report, 82% of data breaches (ransomware included) involve “the human element” (which Verizon cites as “Use of stolen credentials, Phishing, Misuse, or simply an Error”). Therefore, strengthening users (through education) as a last line of defence is vital to the security stack. 

Want to Save Money with Co-Managed IT? 

The co-management model fills gaps and leverages skills and technology beyond your current capability. It also helps keep your systems secure and up-to-date, giving you peace of mind. However, you’ll need to carefully select a reliable MSP and invest in your IT to see guaranteed results. 

At Netitude, we’ve been helping in-house teams stay on top of their technology for years. We’ve seen companies flourish since using the right technology. Aligning solutions with organisational needs help your company grow and reach your goals. If you’d like to find out more about Co-managed pricing, download our guide!

Find out more about Co-managed pricing