Today, accounting firms are as technology-driven as any other business industry, yet some accounting firms have been relatively slow in adopting the evolving changes. The last few years have become clear how having a strong IT environment with a secure and authentic infrastructure is a necessity for being in the demand. Slowly, with time, IT services like Managed Service Providers (MSP) have become more crucial than ever for accounting firms or individual CPAs for that matter.
Both accounting firms and CPAs face challenges that any other industry does with keeping their IT infrastructure secure and running. As per some estimates, said accounting firms spend as much as 70% of their IT budget on protecting their systems while the remaining on upgrading to new technology. Some CPAs may believe their in-house is apt with handling any challenges or new technology that comes their way, but can the in-house IT employees provide 24x7 support needed to maintain and monitor daily online activities? Cloud accounting is another area that has become a norm along with artificial intelligence, automation, cybersecurity, and big data. Traditionally, CPAs and accounting firms have relied heavily on in-house or outsourced IT experts to help them occasionally. One option that they have missed is using MSPs.
So, what are MSP services?
A managed service provider (MSP) can handle critical business operations that are out of your firm’s primary goal. It can also furnish you or your accounting firm with the latest knowledge and additional resources that go beyond your in-house employees. The best part of hiring MSPs is access to a team of trusted IT professionals that manages your firm’s IT infrastructure. Managed service providers have moved far beyond just the old ‘fix only when broken’ model. Rather, MSPs team up with CPAs, helping them and accounting firms stay ahead on patches, backups, security, and challenging demands of maintaining successful networks.
Two types of MSP services.
- Fully managed – Here, you hand over your entire IT infrastructure to the MSP firm. The managed service provider then oversees every facet of your IT infrastructure. MSPs handle cybersecurity, cloud infrastructure, endpoints, help desk support, and network management.
- Partially managed – The MSP firm works together with your in-house IT team to manage your infrastructure and support needs. But they oversee only specific areas as assigned by you while your in-house IT professionals take care of other tasks.
Reasons to consider MSP services
Helps accounting firm stay secure: Cybersecurity
The digital world grows every day, and cyber threats are constantly developing as well. Cybersecurity is of utmost importance in accounting. MSPs can keep your data safe. MSP best practices guarantee transmissions through the cloud that remains secure and that threats will be detected and fixed promptly. Managed service providers can offer helpful recommendations and policies that could help you or your accounting firm save big bucks in the end. Having an MSP gives your existing IT employees much-needed focus and support.
Some accounting firms and CPAs still believe that they have their data backup system in place. If you’re one of them, you need to ask yourself these questions. Can it be quickly accessed to reduce damage? Are you certain that your firm can get back online or access lost data with negligible disruption? This is where MSPs come into the picture. They have the resources and technical knowledge to handle backup and disaster recovery (BDR) in a way that an in-house IT professional cannot. MSPs mitigate risk by offering timely BDR services. Getting data backup running and recovering data is crucial for CPAs and accounting firms and MSPs can establish your win.
CPAs or accounting firms operating online rely on networks. Networks are complex and inclined to constant technological changes and rapid evolution only seems to increase their complexity. Networks today are swamped with virtual and physical components, use the latest technologies, and are distributed across the globe, making them impossible to manage. Unfortunately, not all accounting firms or CPAs possess the requisite resources, necessary technical knowledge, or MSPs to manage their networks.
Once you team up with MSPs, it shares its recommendations, products, and software that offer a complete view of functionalities. The right tool and software can help firms and CPAs manage their virtual, physical, and hybrid networks support systems from multiple vendors. In addition, you also get complete visibility over distributed networks.
MSPs ensure accounting firms and individuals, with the help of its tools and software, can monitor the health, performance, and availability of your network.
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