Lets talk about something that sounds complicated but is actually pretty straightforward: figuring out the ROI (Return on Investment) of managed services.
How to Calculate the ROI of Managed Services - managed it security services provider
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Its not just about saving money (though thats definitely a piece of the puzzle).
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So, how do you actually calculate this ROI?
How to Calculate the ROI of Managed Services - managed services new york city
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How to Calculate the ROI of Managed Services - managed services new york city
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Lets start with the "Cost of Investment". This is probably the easiest to nail down. Its simply what youre paying your managed service provider. This includes your monthly fees, any upfront setup costs, and any charges for extra services you might use (think emergency support or specialized projects).
How to Calculate the ROI of Managed Services - managed services new york city
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Now for the "Gain from Investment." This is where things get a bit more nuanced. Its not just about cold, hard cash. Its about identifying the value that managed services bring to your organization.
How to Calculate the ROI of Managed Services - managed service new york
Reduced Downtime: How much does it cost your company when your systems are down? Think about lost productivity, missed deadlines, and potentially even lost revenue.
How to Calculate the ROI of Managed Services - managed it security services provider
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Increased Productivity: Are your employees spending less time dealing with IT issues and more time focusing on their core tasks?
How to Calculate the ROI of Managed Services - managed service new york
Improved Security: A data breach can be devastating.
How to Calculate the ROI of Managed Services - managed service new york
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Scalability and Flexibility: Managed services allow you to scale your IT resources up or down as needed, without having to hire and train new staff. This agility can be a significant advantage, especially for growing businesses. Consider the cost of hiring additional IT staff versus the flexibility of managed services.
Reduced Internal IT Costs: Are you able to reduce your own internal IT staff or reassign them to more strategic projects? This is a direct cost savings. Even if you dont eliminate positions, freeing up your existing IT team to focus on more strategic initiatives can be a significant gain.
Once youve identified and quantified these gains (as best you can), add them all up.
How to Calculate the ROI of Managed Services - managed services new york city
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Now, plug those numbers into the formula: (Gain from Investment - Cost of Investment) / Cost of Investment. Multiply the result by 100 to express it as a percentage. That percentage is your ROI.
For example, lets say your "Gain from Investment" is $50,000 and your "Cost of Investment" is $20,000.
How to Calculate the ROI of Managed Services - managed services new york city
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Remember, calculating ROI isnt an exact science. It involves making some educated guesses and estimations.
How to Calculate the ROI of Managed Services - managed services new york city
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