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In the fast-paced world of technology-driven business, savvy CIOs have come to realise that by partnering with a trusted IT managed services provider (MSP), they can significantly reduce IT costs and shore up any expertise gaps. According to Gartner, IT services is now one of the largest segments in IT spending, revealing a growing trend by CIOs in the way they are selecting and engaging with external vendors. CIOs are more actively joining forces with IT managed service providers and Chief Experience Officers (CxOs) and other leaders to expand support including cultivating innovation, developing skills and leadership-focused activities.
In another Gartner global survey of CIOs and tech executives, almost half of the respondents reported that they are joining forces with their CxO counterparts to unite teams to spearhead digital initiatives across the enterprise. And according to a joint Deloitte and Harvard Business Review whitepaper, leaning on a MSP’s expertise is also attractive to leaders wanting to focus on more strategic projects and initiatives. Such partnerships are highly advantageous for CIOs, contributing to increased investment and growth within this sector.
Measurable benefits driving IT managed services growth
By 2029, the IT managed services market is poised for significant expansion, growing from approximately US$281 billion in 2024 to reaching US$411 billion. This spike in growth is closely linked to CIOs recognising that by leveraging outside expertise through collaboration with MSPs, businesses can access a wide range of benefits that not only propel growth and competitiveness, but also offer significant savings and enhance efficiency.
According to Mordor Intelligence, by partnering with MSPs, leaders forecasted savings of 25-45 per cent and a boost in operational efficiency of around 45-65 per cent. In the same report, businesses said they are avoiding costly downtime, forecasting a savings of US$301,000 to US$400,000 per hour, emphasising the critical nature of a reliable IT partner.
Today, CIOs face many challenges, including navigating tech talent shortages while driving profitability. Yet, a trusted IT managed services partner emerges as a valuable ally, equipping CIOs with the necessary tools to concentrate on high-value tasks.
The top 5 characteristics of a trusted IT managed services provider
Before CIOs embark on the journey to find a suitable MSP, they must decide on a partner they can trust. Confidence in the capabilities of the selected partner has the power to impact the quality, reliability, and security of the provided services. Therefore, selecting the most suitable partner for a business is crucial.
Armed with their business priorities and background knowledge of potential partners, CIOs should ensure that their chosen MSP has:
1. Expertise and specialisation
Look for an MSP skilled in network management, application support, infrastructure maintenance, and security.
2. Proven track record
Choose an MSP with a successful service history and positive client feedback.
3. Scalability and flexibility
Ensure the MSP can adapt services to changing needs and technologies.
4. Proactive monitoring and support
Select an MSP that provides proactive monitoring and quick issue resolution.
5. Alignment with business goals
Opt for an MSP that aligns its services with the organisation’s strategic objectives.
By leveraging the expertise of an MSP, CIOs can work towards the successful implementation of a digital transformation initiatives.
CIOs gain a competitive advantage by leveraging IT managed services
In summary, the CIO role is changing, and to keep up, trusted IT-managed services partners have become instrumental partners to the CIO. A trusted advisor-like partnership offers distinct benefits, including increased productivity, heightened security, scalability, and continuous support to navigate the intricacies of the current digital age. Embrace the capabilities of IT managed services to unlock your business’s full potential. To learn how you can kickstart your IT MSP journey, contact us here.