The MSP Meaning: Powering Businesses Without IT Staff

Last updated on September 13th, 2023 by Editorial Staff

When entrepreneurs hear the word MSP, they want to know what the MSP meaning is. MSP stands for a managed services provider. It is basically a business that services the IT needs of other businesses that do not have an in-house IT team. Now that you have a basic grasp of what MSP means, let's talk about deepening our understanding of the business.

The Function Behind the MSP Meaning: Technological Infrastructure Without the Hitches

MSP Meaning: Outsourced IT Infrastructure Support

To explore the full definition of MSP meaning, you just need to take a look at the IT support needs of small to medium enterprises. These companies do not necessarily have room for a big ticket item like a full-time IT staff. They get an MSP to manage their small IT network or call an MSP to send a tech out to fix their equipment.

Think about a small convenience store and the kind of network its owners maintain. They probably keep one computer in the back and some webcams to monitor their aisles. Keeping a full-time IT staff is excessive for this setup. That's why an MSP makes sense in this scenario. They can just call their MSP and have them send a tech out to fix if something is broken.

This is another dimension to the MSP meaning - being able to activate IT technical support on a case-to-case basis and never having to commit to a full-service package. This degree of flexibility allows businesses to use their smaller budgets for other activities that generate revenue and fuel growth.

MSP Meaning: The Broke/Fix and Subscription Models

An MSP has two revenue models. The first model is the break/fix business model. A business calls an MSP for help in fixing broken equipment. It then sends out one of its technicians on-site. The business only pays its MSP the amount of hours their tech spent in fixing the issue plus any equipment replacement costs.

However, some MSPs use a subscription revenue model. Their clients pay a set fee every month. The MSP will install apps on their computers and keep watch on their networks. They keep a tight lid on cyber security on the network. And when something becomes broken, the MSP sends a tech out at no additional charge.

The Advantages of MSPs

This is definitely one great side of the MSP meaning - how one provides benefits to its clients. First and foremost an MSP lets businesses dictate how much they will spend on technical support. They can get an MSP to help them monitor their network or just get them to come out when something needs fixing. It means that businesses don't have to hire tech staff nor spend resources in looking for talent.

Another benefits that enhances the MSP meaning for businesses is the sense that an MSP will be efficient in its chosen process of maintaining IT networks. It can also standardize and improve on its operations to the point that its services will be cheaper and more cost-effective. There's definitely an economy of scale at play here which makes an MSP's services practical. They will also use the best and latest practices in their industry so the quality of service is always high. An MSP needs to be updated on the latest tech trends and they will always find a way to integrate innovations into their every practice.

There are many sides to the MSP meaning but it always boils down to business growth. Aside from the ones we discussed here, an MSP can serve as your business partner and help you grow your enterprise by way of integrating new technologies into your everyday operations. What better MSP meaning is there than the success of your company?

Do you have a better grasp of MSP meaning and how it can help your business? Since we're on the topic of MSP, please think of NuMSP when it comes to managed services providers. NuMSP provides the most cost-effective service package in the MSP industry today. We are 500% cheaper than other MSPs when it comes to subscription prices per computer and 50% cheaper when it comes to managing networks than our competitors. Call our number and speak to one of our representatives to talk about how much you can save today without scrimping on service quality.