Every business suffers downtime at some point due to servers failing or the internet crashing. However, an experienced IT specialist can substantially reduce your downtime and minimize any undesirable consequences. Here’s why downtime is such a problem for any business and how a managed service provider (MSP) can help you reduce your downtime frequency.
The impact of downtime on your business
Downtime has serious and tangible consequences for any growing business. Let’s take a look at some of the most common effects of business downtime.
Cost
The most significant cost of downtime on your business is the toll it takes on your bottom line.
Reports show that downtime can cost your business up to $10,000 an hour in profits. This means that if systems are down for too long, small businesses may struggle to recover from the financial losses. The reality is that no business, whatever size, can afford to ignore the possible financial consequences of prolonged downtime.
Morale and productivity
Employees who frequently waste time troubleshooting IT problems are unhappy ones. Working on outdated, slow, or inefficient computers can seriously affect staff morale and reduce productivity rates. When your teams are unproductive, your employees are less effective and there is an increase in frustration.
Reputation
If your business is prone to downtime, this may affect how well you communicate with consumers and how available you are to clients. If, for example, clients find they frequently can’t contact you because your lines are down, they may look elsewhere for their business needs.
How an MSP can help to reduce downtime
With the support of an MSP, you can minimize your downtime and keep your business profitable. It all comes down to having the right strategy. Here are the top four reasons that an MSP should be part of your overall IT strategy.
Cybersecurity
A staggering 95 percent of cybersecurity breaches are caused by human error, often because employees don’t know how to identify security breaches or resolve them when they occur. An MSP provides you with network monitoring to minimize the risk of intrusion and help to detect vulnerabilities should they occur.
24/7 support
Your MSP shouldn’t just offer an easily accessible ticketing portal. They should be available at any time to troubleshoot your IT problems as they happen. MSPs understand that the business world doesn’t sleep, and they provide you with support when you need it most.
Auditing
Sometimes, downtime is an inevitable consequence as a result of outdated equipment, unsupported software, and overstretched infrastructure. An MSP can audit your existing IT infrastructure and advise you on what needs upgrading – usually within your existing IT budget.
What’s more, since you can transfer much of your backup and network monitoring needs to an MSP, it can help leverage existing technology to receive more value from the hardware you’ve already invested in.
Risk management
An MSP can help you identify the main threats and risks affecting your business and devise a strategy for managing these challenges. Whether you’re at an increased risk from a cyberattack or your business is growing at a rapid pace and your infrastructure is struggling to keep up, an MSP will advise you what steps to take to control your unique business risks.
Minimize impact
The reality is that downtime costs time, money, and resources. Although it’s impossible to prevent every cause of downtime, especially natural disasters, extreme weather, and power outages, it’s absolutely possible to minimize the impact of downtime on your business operations. For more information on reducing the loss of time, contact us today.