Satisfying stakeholders and customers at the same time is a delicate balance requiring a complex solution matrix. How can you make the right decisions to get the best results?
From the outset, your story is fundamentally unique: other companies offer a product or service but are missing the mark, and you can provide a better product or service. The proof is in your success. A period of initial success is followed by more growth, and now you need to make a decision.
Are you facing a confusing juncture?
A period of prosperity is often coupled with increasing costs. Growth always comes at an expense, literally, with added costs for conditions like expanded space, increased technology hardware costs, more team members to support the business, as well as various “fringe” considerations like IT, advertising, legal, and human resources. These are fringe elements as they are outside of the core good or service your company produces.
At what point do these fringe elements become cost-prohibitive?
Maintaining all of these teams internally assures absolute control, but does it make financial sense? The time required for you to spend in hiring, onboarding, and managing these team members is time spent away from your core focus of the product or service you provide. At some point, you need to ask yourself if the shift in focus comes at the expense of the success you’ve worked so hard to achieve that has gotten you to this point.
What can you do?
The next logical step is to review the teams and their respective budgets to determine if there is a better way to structure these teams to save money and time, but is this the right answer for you? This can be a daunting process – but it doesn’t have to be.
Moving forward in the right direction might mean the difference between survival and failure – and failure is not an option! If outsourcing isn’t the right answer, what else can you do? What are the best ways to reduce internal costs without sacrificing quality?
Breaking Down the Process
Your IT department is the most expensive team you have, but it’s a valid expense. Your business relies on hardware, systems, technology, and knowledge to function – and thrive. The payroll shows team members to manage the network, staff to provide technical support for on-demand needs, hardware administrators, and potentially even more. Considering the specialized nature of each of these roles, their respective salaries add up!
This department might very well be the greatest single line item in your budget, but if you’re reading this, you’re already questioning if that expense is necessary or if the process has room for improvement.
Want to know a secret?
There is always room for improvement – always. It’s up to you to make a choice at the juncture and take that first step. Managed service providers have one focus: to improve your bottom line by providing dedicated specialized services.
- What are managed service providers? Outsourcing responsibilities in a focused area to a managed service provider improves efficiency and productivity and decreases costs.
Securing a partnership with an expert managed service provider can save you immense time, resources, and money! Yes – you can make a positive impact on your budget without sacrificing the quality and control you’ve come to depend on with internal resources.
How can a managed service provider help you with this? Working with the right expert provider, you can expect results like:
- Decreased IT spending by more than half
- Reduced internal resource cost and reduced downtime at your expense
- Expert knowledge from on-demand teams
- Improved IT responsiveness
- Never again sacrifice productivity from internal issues like personnel absenteeism for illness or vacation
- Clear communication with regular progress discussions
Does this sound good to you?
The benefits of working with a managed service provider are endless. Using economy of scale, managed service providers can focus on one area of business to many customers (scale) and pass on cost advantages to their clients (economy) – a win-win situation for everyone involved!
Managed service providers are able to provide modern solutions to clients on top of the basic outsourced process typically relegated to IT staff:
- Public and private cloud data storage
- The global cloud services industry is expected to grow nearly 20% by the end of 2018, to a value of over $200 billion
- Migrating data storage to the cloud frees office space – since office expansion is expensive, this is valuable real estate that can now be used for other purposes
- Cloud data storage offers a flexible and secure option for you to pay for what you need right now, and not be required to forecast what you might need in the next two to four years in the hardware purchase process
- Network security
- Cybersecurity is big business, and your customers want to know you’re doing everything possible to secure their personal information you process in transactional relationships. The burden of security is on you, so working with an expert managed service provider that includes cybersecurity experts to oversee your network and guarantee the protection of your information is crucial.
- IT Process Consulting
- Your provider can continually suggest improvements to the IT processes for your business model to avoid the “break/fix” on-demand support cycle.
- Client Success Strategies
- When success is shared, everyone wins – which isn’t an obvious of a statement as it seems. Happy customers equate to increased referrals, which translates into increased revenue but requires increased resources. Working with an expert to provide resources as a cost-saving fill in any gaps in the equation.
- Regulatory Compliance
- Many industries report to governing bodies for regulatory compliance, and hiring dedicated consultants or staff for this purpose can add up quickly. Managed service providers that include this expertise without added expense are an enormous benefit!
The secret to success for you – and your company – is providing a better product or service, and a better customer experience to your clients. Expert providers with mature processes, the knowledge, and experience to provide productive solutions, and share your goal of doing more with less can help you with what’s next – is there an IPO in your future? With the right roadmap and the right managed service provider, you might just be the next major success story.
See how KalioTek can help you with a customized plan for success!