What Are the Hidden Risks of Not Using Managed IT Services?

With managed IT services, you can leave your IT infrastructure to seasoned specialists and focus on running your business. You’ll have access to the latest solutions and expert assistance whenever you need it.

But despite these benefits, some businesses still underestimate the importance of managed services. And that exposes them to a wide range of hidden risks. We’ll explore these below to help you understand why working with IT specialists could be the best move for your business.

Higher Vulnerability to Security Breaches

Cybersecurity is essential for any business in any industry. If you use internet-enabled IT systems, you must protect yourself against potential threats.

Common dangers include:

• Ransomware

• Man-in-the-middle (MITM) attacks

• Malware

• Spyware

• Distributed denial-of-service (DDoS) attacks

Ransomware, in particular, is recognized as the top cybercrime threat to Canada’s critical infrastructure. But each of these hazards, and numerous others, can cause severe disruption to businesses.

Fortunately, a reputable managed IT services provider (MSP) will be able to provide you with a tailored security setup and round-the-clock monitoring. This will minimize your risk of network breaches and bring you invaluable peace of mind that your business is secure.

Unexpected and Costly Downtime

Technical and security issues can lead to unexpected downtime. Whether it’s a network infected with malware or multiple system failures striking simultaneously, downtime will stop you from operating as usual.

During this period, you’ll be unable to provide customers with the products or services they pay for. And that means you’ll miss out on precious revenue.

The longer your downtime lasts, the more money you stand to lose. That’s why investing in managed IT services is so important: you can depend on a specialist team to protect your business from unplanned downtime.

Here’s how MSPs do it:

• Taking a proactive approach to spot any potential network issues that could cause problems and fix them before they make an impact.

• Maintaining your systems to keep them functioning at their best.

• Applying security and software updates as needed to prevent issues.

• Offering remote and on-site support to troubleshoot problems.

Working with an MSP will maximize your business’s uptime to ensure your team can work at its best without sudden disruptions.

Lack of Access to IT Expertise

Do you have an in-house IT technician? They can only do so much with the time and resources available. Most of their work may involve helping employees with password recovery or replacing faulty hard drives. This can make it difficult (if not impossible) to monitor network activity and take a proactive approach to security.

In an emergency, in-house technicians may be spread too thinly or lack the deep expertise to take action. But with managed IT services, you have access to an experienced team of specialists at all times. Whether you find yourself in crisis mode or you have a quick question, a reputable MSP will be ready to help.

Lost Data

Data is invaluable to businesses. From details on website activity to market analysis, data helps leaders make informed decisions. But data loss is one of the biggest hidden risks of not using managed IT services.

Without access to critical data, you may struggle to understand customer needs, opportunities, and your general performance as before. This can interfere with your productivity, efficiency, and overall success.

Any number of issues could lead to data loss, such as hardware failures and cyber attacks. But when you work with an MSP, their managed IT services will reduce your risk of data loss.

How? By implementing effective security measures, proactive network monitoring to detect threats, and configuring reliable data backup. This will help to protect your data and ensure that you can access business-critical files at any time.

Failing to Comply with Standards

All businesses need to comply with industry regulations and legal requirements. But this is particularly important if you operate in a field that has strict rules on data management. Failure to store and protect data in line with official standards could lead to severe repercussions.

Such as? Substantial fines are just one major problem that businesses face after non-compliance. But others include a loss of customer trust and potential legal action.

If you’re responsible for an SME, you may feel that you lack the time and resources to stay up to date on the latest standards. But managed IT services will help you play by the rules, covering everything from security to data storage.

Harm to Your Reputation

More than 75% of Canadians admit they would stop doing business with a company following a data breach. Even if a hacker manages to penetrate a network using a cutting-edge technique that’s hard to detect, customers need to feel reassured that a business will keep their data safe.

If they feel they can’t depend on a business to do that, customers will look elsewhere. Any trust they had will be eroded - and may never be restored.

This reputational fallout can cause lasting damage to a business’s relationships with existing customers and make it more difficult to win new ones. Partnering with an MSP will help protect your business’s reputation by preventing problems that destroy customer trust.

No Disaster Recovery Plan

A disaster recovery plan ensures business continuity in challenging situations, such as:

• Floods

• Fires

• Earthquakes

• Theft

• Vandalism

• Hardware failures

• Cybersecurity attacks

With an effective strategy, your team can keep working even if they can’t be in the office or use their standard devices. An MSP will create a disaster recovery plan for you, using off-site or cloud storage (possibly both) to safeguard your data. This will help you avoid downtime and lost revenue.

Creating the Right Managed IT Services for Your Business

Working with a trusted Canadian MSP can help your business stay safe, avoid downtime, and maintain customer trust. But how do you know which MSP is right for you?

NETWORTH works with businesses in the Greater Toronto and Southern Ontario areas. We offer extensive managed IT services with bespoke packages, you’ll only pay for what you need. Ready to learn more? Schedule a consultation with our business IT experts today.