3 Ways Your MSP Can Help You Forecast Your Costs

Managed Service Providers (or MSPs) don’t always get a seat at the boardroom table when their clients are are putting together forecasts on a quarterly or yearly basis. Many providers are looked at as “fixers” – and not necessarily as useful, strategic planners that can help to drive the same conversation.

Here are 3 practical ways your MSP can help you forecast next year’s IT costs – and why they should.

The Cost of IT

The IT department and its allocated budget has become one of the most important things to almost all companies who are hooked up to the internet. Statistics guess that a company hack happens at least every 2 to 3 seconds – and companies with personal or client information to steal are even more at risk than this.

It means that companies have to increase their IT budgets and prepare for the worst.

If you are one of the few companies out there without an IT budget, prepare to spend more than your past projections on cybersecurity, protective measures and anti-hacking.

With a higher projected risk for hacks in coming years, almost all companies out there have to prepare for it.

That’s where a company’s MSP comes in handy – and where they might have been secondary to the conversation before now, it’s time to rely more on the information that MSPs can provide.

Let’s face it: the majority of companies aren’t cybersecurity experts themselves. Without some help from your MSP in your budget, your potential projections are guesswork.

1. Preparing for Security Threats

In the nineties, the worst things a company could face was a destructive worm or disabling virus that puts their entire corporation’s computers at risk. Today there are many more security threats out there than just worms and malware: there’s ransomware, and it could cost companies thousands in recovery ifthey are hit.

An MSP can help you to prepare for security threats, as they are generally more informed about the current state of the online environment than most of the board.

Don’t know how to prepare for the unseen threat of hackers and ransomware?

A well-informed MSP can point your company’s board in the right direction.

2. Identifying New Trends

Cybersecurity trends change almost every hour, from new threats that could hit companies through to new patches for operating systems that might present a fix – or the company’s biggest risk.A company can’t identify new cybersecurity threats on their own. For most companies and their board, this is an impossible task – and most people on the average board are trained in PR and finance, not hacking and recovery!

An MSP can help companies to identify any new trends, whether it involves hardware, software or a new, costly system update.

3. Highlighting Existing Problems

There’s no such thing as a perfect company. Even large-scale ones like Coca-Cola are at risk, and they are in the business of constant risk and problem assessment – this way, customers will never notice!

An MSP can help you to highlight existing problems in the company, especially ones of a data-related or cybersecurity nature.

Onboarding new staff is an exciting time for any business. It represents growth, expansion, and new opportunities for your company. However, it’s important to take the necessary steps to ensure that the onboarding process is done smoothly and securely. With so much sensitive information being stored on computers and in the cloud, it’s crucial to take an IT and cyber security perspective when bringing new employees into your company.

Here are some key considerations to keep in mind:

IT Infrastructure

Before a new employee starts, it’s important to have their workstation set up and ready to go. This includes making sure that their computer is configured with the necessary software and security updates. Additionally, you should have a backup of all important data and files, so that you can restore them in case of a security breach.

Access Controls

It’s important to have a clear understanding of what data and systems a new employee needs access to in order to do their job. Only provide them with the access they need, and set up proper controls to ensure that they cannot access sensitive information without permission. This includes implementing strong passwords, two-factor authentication, and regularly monitoring access logs.

Cybersecurity Awareness

Ensure that new employees are aware of the potential cybersecurity risks they may face, and the importance of following best practices to keep the company’s information secure. This may include regular training and reminders on safe browsing practices, email security, and social engineering tactics.

IT Policy

A strong IT policy is the foundation of any successful IT and cyber security strategy. All new employees should read and sign an IT policy that outlines the company’s expectations, rules, and procedures. A sample IT policy template is included below:

IT Policy Template

Introduction:

This policy outlines the rules and procedures for using company IT resources, including computers, internet access, email, and other technology. The purpose of this policy is to ensure the secure and effective use of these resources and to protect the company’s confidential information.

Expectations:

All employees are expected to use company IT resources in a responsible and professional manner.

Employees must protect confidential information and only access data and systems that they need to perform their job duties.

Employees are responsible for the security of their own computer and must ensure that it is protected with the latest software updates and security patches.

Procedures:

Employees must change their password every 90 days and use strong passwords that are at least 12 characters long and include a combination of upper and lower case letters, numbers, and symbols.

Employees must not use company IT resources for personal gain, to send or receive inappropriate material, or to engage in any activities that may be illegal or unethical.

Employees must report any security incidents, including lost or stolen devices, to the IT department immediately.

Conclusion:

By following these rules and procedures, employees can help ensure the secure and effective use of company IT resources. If you have any questions or concerns, please contact the IT department for assistance.

By following these considerations, you can ensure that the onboarding process for new employees is smooth, secure, and compliant with your IT and cyber security policies. If you need further assistance or support, don’t hesitate to reach out to us for help!