What To Look for in an Denver MSP

There’s never been a better time for Colorado businesses to partner with a Denver managed service provider (MSP). The risk of cyberattacks and downtime has significantly increased over the past several years—and so have the costs of not doing anything. If you want to survive and thrive in the long run, you need to act as soon as possible.

In this article, we’ll take a look at some of the latest cybersecurity trends related to managing a business. We’ll also explore some of the key factors to consider when searching for the right Denver MSP. Read on to learn more.

Cybersecurity, Downtime, and Your Business

It’s easy to assume that big businesses are the only ones that have to worry about cyberattacks and other online threats. After all, they’re the ones with nine-figure balance sheets and powerful data that hackers can hold ransom. But a quick look at the statistics paints a different picture. Small and medium-sized businesses (SMBs) need to pay attention, too.

Research shows that over 43% of all cyberattacks are aimed at SMBs. But here’s the most shocking data point of all: 61% of SMBs experienced a cyberattack over the past 12 months. And while not all of those attacks were successful, many were.

Data breaches reportedly cost SMBs an average of $3 million per incident. The costs are so high that 60% of companies go out of business within just six months of a successful attack. And even those that stay open are impacted in a serious way, with 25% of these businesses losing revenue and missing out on business opportunities as a result.

The biggest cost associated with cybersecurity incidents is downtime. Unplanned downtime can cost businesses somewhere between $926 per minute all the way up to $17,244 per minute. Even if you use the low end of that estimate, that means 45 minutes of downtime will cost a minimum of $41,670 for the average business.

While security breaches are certainly a cause of unplanned downtime, they aren’t the only contributing factors. In 45% of cases, it’s hardware failure. Power outages (35%), software failure (34%), data corruption (24%), and accidental user error (20%) are also responsible. The reality is that if you don’t have a plan for cybersecurity, hardware failure, power outages, software failure, data corruption, accidental user error, and the dozens of other factors that can contribute to downtime in your business, you’re facing serious risks that could compromise the future of your business.

It’s time to get help. One of the best steps you can take is partnering with a Denver managed IT provider to ensure you’re protected.

What To Look for in a Denver MSP

There are multiple Denver MSPs to choose from. So, how do you select the right one to keep you protected from costly downtime and other expensive problems? Well, it all starts with knowing what you need. With that being said, here are some factors worth prioritizing when you’re looking for the right managed service provider:

Scalability

You might have a small or medium-sized business right now, but what happens when your company grows and your footprint extends beyond Denver or another specific market? What happens when your organization stretches across cities, states, or even countries?

A good MSP might be local, but they’re also capable of providing managed IT services on a national and global scale. This ensures continuity of service even as you grow.

Experience

Change is constant in the IT and cybersecurity world. You don’t want to work with a managed IT provider that’s just entered the scene. Find an experienced partner that’s seen a thing or two. They should have a strong finger on the pulse of what’s happening with cloud technology, virtualization, cybersecurity, and cross-platform integration.

Variety of Services

As you grow, so will your IT needs. Make sure you find an MSP that’s able to provide an entire suite of managed services so you can adapt, grow, and respond to changes over time. Some services to look for include network operations center monitoring, cybersecurity, 24/7 remote support, detailed analytics and reporting, disaster planning and recovery, mobile integration, cloud management, data backup, and general information technology consulting.

Just because you don’t need a service right now doesn’t mean you won’t need it in the future. This is why it’s a good idea to get a full rundown of the services offered by each Denver MSP you’re considering.

Cost Model

Finally, consider the cost of partnering with an MSP based in Denver. While most managed service providers offer fairly similar pricing, some pricing models are different. Some offer a flat fee, while others charge a retainer plus additional expenses based on monthly use.

Not only that, but the rates can vary dramatically from one company to the next. Be wary of going with the cheapest option, but you might not need the most expensive provider either. Crunch the numbers and see what makes sense for your needs and budget.

Response Time

As the statistics above show, every minute of downtime is expensive. Maintaining maximum uptime is critical, but it’s not always possible to stop every incident or threat. In these situations, you must feel confident that your business and technology needs are handled and you can respond quickly to restore uptime.

The Millennium Group: Your Denver Managed Service Provider

The Millenium Group is a veteran-owned Denver managed service provider that’s committed to helping businesses like yours protect their infrastructures from outside threats. Our team of trained IT experts provides 24/7 support for our clients, with expertise in IT consulting, data backup, disaster recovery, and more.

Want to learn more about our Denver MSP services? Contact us today—we’d be happy to chat!

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