Managed service providers (MSPs) help organizations extend their IT and information security capabilities. By working with an MSP, organizations bypass the need to pursue costly in-house technology implementations. They gain access to specialist expertise they might not otherwise be able to find, allowing the company to focus on its core value. 

Several different types of MSPs exist: 

Standard Managed Service Providers (MSPs) 

The standard MSP takes responsibility for its customers’ entire IT environment. That means deploying and maintaining system infrastructure, network assets, and applications. A full-service MSP will provide ongoing administration and support for your organization’s IT needs in exchange for a predictable monthly fee. 

There is a great deal of variety in the ways different MSPs achieve this goal. Some rely on remote resources while others offer on-site solutions. Many MSPs host infrastructure and assets in data centers they either own or lease from third-party partners and public cloud providers. 

Co-Managed IT Service Providers (Co-MITs) 

Co-managed IT service providers (Co-MITs) combine internal and external resources in partnership with third parties. Organizations may pursue a Co-MIT arrangement in order to divide responsibilities between an established internal team and an MSP. Instead of handing over your entire IT infrastructure to the MSP, you maintain control over parts of your environment internally.  

IT leaders often pursue Co-MITs because they believe their internal team understands the company better than a third party MSP can. The organization may already have invested in parts of its IT infrastructure, and prefers to use that investment than simply replace it with a third-party service. 

Managed Security Service Providers (MSSPs) 

Managed Security Service Providers (MSSPs) are a particular type of MSP that focuses on monitoring and managing security systems. By focusing entirely on security, MSSPs are able to leverage specialist expertise in ways that standard MSPs can’t. They often provide specialty services like vulnerability management and help their customers achieve compliance. 

Cybersecurity has become a higher priority for stakeholders and executives in recent years. As a result, MSPs are increasingly integrating security services into their portfolios, leading to a convergence that blurs the distinction between MSSPs and MSPs.  

Managed Detection and Response (MDR) vendors 

Managed Detection and Response (MDR) providers are a unique type of MSP that also focuses exclusively on security. Where MSSPs help organizations passively improve their security posture, MDRs proactively monitor networks and systems for signs of unauthorized activity. When it encounters a threat, the MDR security team will also investigate it and lead a coordinated response on its customers’ behalf. 

MDR vendors typically focus on offering scalable, on-demand product expertise for specific detection and response platforms. They invest in building their own Security Operations Center (SOC) and then use it to protect their customers from advanced cyberattacks in real-time. 

Virtual Executives 

Virtual executives—also known as fractional executives—include roles like Virtual Chief Information Officers (vCIOs) and Virtual Chief Information Security Officers (vCISOs). These are technically managed services, but the value they offer is unique. 

Instead of offering managing infrastructure or implementing technologies, these individuals enable organizations to access their leadership and experience—as a service. This usually means developing a long-term IT and security strategy while connecting customers to other MSPs responsible for delivering the results. 

What about Value Added Resellers (VARs)? 

Value-added resellers (VARs) are similar to MSPs in many ways, but focus more on the implementation of specific technology products. If your organization wants to deploy a particular tool or platform, a VAR can help you complete that process without requiring additional commitment on your part. 

VARs usually work under short-term contracts with flat fee pricing structures. When they finish the implementation, managing and maintaining the solution is up to you. However, some VARs also provide ongoing management and other services, making them functionally similar to MSPs. 

Benefits of working with an MSP 

MSPs fill a crucial niche in the modern enterprise IT ecosystem. They offer an alternative to the traditional approach of integrating new IT infrastructure through on-site deployments managed by in-house teams. This provides IT leaders and stakeholders with valuable benefits:  

• Better economics and risk management. Working with an MSP transforms unpredictable capital expenditures (CapEx) into predictable operating expenditures (OpEx). There is no risk of underutilization or overutilization because managed services can scale to meet your needs on-demand. 

• Greater agility and flexibility. Building and operating technology deployments in-house takes time. MSPs enable organizations to adapt to changing conditions much faster, since they don’t need to deploy or maintain on-site infrastructure. 

• Access to specialist expertise. Hiring specialist talent for complex security implementations is difficult and expensive. Since MSPs focus on specific technology products, it’s easier for them to attract and retain specialist talent. This makes hard-to-find expertise much easier to access, especially for organizations and enterprises outside the tech sector. 

• Scalable infrastructure and services. MSPs enable organizations to utilize the volume of service they need, scaling up and down in response to market requirements. Businesses with multiple locations can consolidate their tech stack across disparate systems more easily with an MSP. 

What to look for in your MSP 

The best MSPs act as trusted advisors and consultants, guiding IT leaders and their teams towards the best technologies and processes for their unique use case. They provide clarity and expertise that helps organizations optimize their IT and security deployments to meet business objectives. 

Be cautious with MSPs that quickly suggest undertaking expensive rip-and-replace projects to implement new technologies. Legitimate product experts will take time to understand your organization’s budget and requirements first, and may find more economic ways to integrate legacy deployments with new technology. 

Similarly, reputable MSPs help their customers avoid vendor lock-in. Instead of expecting you to hand your data over to them, an MSP should empower you with greater visibility and control over all of your most important assets. You should always be able to disconnect any service from your network without the fear your data might be held hostage. 

Build a better defense with Lumifi 

Lumifi is an MDR vendor that helps organizations establish visibility and control over complex IT environments. We specialize in the implementation and custom configuration of advanced security technologies like Security Information and Event Management (SIEM). Let our SOC act as an extension of your security team and discover the value of working with world-class product experts.