Businesses are becoming increasingly reliant on managed services. The need for managed services has grown consistently over the last few decades and now represents a $152.45 billion market. A recent report by Markets and Markets, predicts it will grow to 257.84 billion by 2022.
Older models of business mandated that successful companies would possess certain working assets on site in a central office, or multiple offices. That is no longer the case. Advancements in digital communication have increased the interconnectivity of our world in unprecedented ways. In recent years businesses have been able to connect to partners, clients, and their workforce even on opposite sides of the globe.
As such we have seen the rise of Managed Services. A system where companies can outsource entire teams as the business demands. Most common for IT services, but expanding beyond that industry, companies can outsource a wide range of functions including marketing, B2B integration, supply chain management, and other departments.
Doing so has many advantages. It allows companies to leverage the power of a full team of experts in a field where the company may not have the resources to support that same team in house. Employing a Managed Service allows companies control and flexibility without the unnecessary costs. These services can also scale with the business as its needs grow.
It has never been easier to utilize Managed Services. Digital communication and project management software now allow teams to connect instantly, making any distance between them insignificant. Taking advantage of a Managed Service is a budget-friendly strategy that not only frees up manpower but also brain power. This means companies can remain focused on growing their core business.