Some people might think of Minneapolis Saint Paul International Airport or the Michigan State Police when they hear the acronym MSP,&nbsp; but in the world of information technology, MSP stands for managed service provider, also known as IT/MSP.

A managed service provider delivers a range of IT services, such as application, network services, security, and infrastructure, and provides regular and ongoing support and administration of these operations. An organization may use an MSP to manage some or all of its IT services. For example, some companies choose to outsource their network security to an MSP and manage everything else in-house.

MSPs can provide their own core offerings or manage third-party solutions on behalf of their clients. These services can help various-sized companies in several ways:&nbsp;Small businesses: Small businesses may not have the budget or need for a dedicated IT team. IT/MSP companies provide a range of scalable services and can be tailored to the needs of the business. MSP solutions are often much more cost-effective than hiring permanent staff.&nbsp;Medium and large businesses: Larger businesses can take advantage of any number of MSP services. An MSP is often the more cost-effective solution, from performance monitoring and network security to mobile device management and disaster recovery.

Most MSPs offer a wide range of services under one roof, allowing their customers to take advantage of the convenience and cost savings. Here are just some of the services an MSP can provide:<ul><li aria-level="1" dir="ltr">General IT services: Include repairing hardware, installing software, and resolving other IT issues as they arise.&nbsp;</li><li aria-level="1" dir="ltr">Disaster recovery: Helps a company stay operational during a disaster or network outage. Services include data backups, server redundancy, and data center management.&nbsp;</li><li aria-level="1" dir="ltr">Managed communications: Management of all communications services, including email, telephone networks, mobile device management, and messaging solutions.&nbsp;</li><li aria-level="1" dir="ltr">Network infrastructure management: These services include network security and monitoring, infrastructure architecture management, and on-site services, such as cable management.&nbsp;</li></ul>

The global managed service provider market is estimated to grow to more than 200 billion U.S. dollars in 2020. While MSPs can adapt their services to any business in any sector, the industries that benefit the most include health, automotive, manufacturing, and the IT sector itself.&nbsp;

There are many reasons why a company may turn to a managed service provider, which typically depends on a company's size and individual requirements. Factors may include:<ul><li aria-level="1" dir="ltr">Top-of-the-line IT solutions that don’t break the bank.&nbsp;</li><li aria-level="1" dir="ltr">An in-house IT team doesn’t make good financial sense right now, or a company may need its in-house IT staff to focus on internal projects or more critical parts of the business.&nbsp;</li><li aria-level="1" dir="ltr">Around-the-clock monitoring to improve security and reduce downtime.&nbsp;</li><li aria-level="1" dir="ltr">Significant IT cost savings.&nbsp;</li><li aria-level="1" dir="ltr">Specific expertise is required for a particular solution or service.&nbsp;</li></ul>

As the name suggests, a cloud service provider offers managed third-party services through a cloud-based platform and eliminates the need for on-premise hardware. The services on offer from a cloud-service provider vary and include application, infrastructure, and storage services. MSPs are different to cloud service providers because they typically provide a combination of managed on-premise and cloud-based services.&nbsp;

Amazon Web Services (AWS) is the world’s leading cloud computing platform and offers over 175 services to its customers. Unlike most MSPs that offer a combination of on-premise and cloud services, AWS only provides solutions that operate in the cloud. The benefits of using AWS include increased agility, lower hardware maintenance and software licensing costs, and the ability to scale and innovate faster.

One of the biggest concerns that a company may have when considering an IT/MSP company is the security and safety of its network and data. An MSP’s managed network infrastructure and data centers are much more robust than a standard enterprise infrastructure and managed 24/7 online, with government approved procedures. This ensures that business data is secure at all times.

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