The ROI of Managed Services As Compared to Internal Processing
Let’s discuss Outsourcing ROI. Outsourcing your document processing projects to a managed services provider is more of an investment in your business than a cost. Although the cost of using a managed service provider is often a bit higher than the internal document processing service, there is a big upside to using the services. There are time efficiencies benefits as well as better compliance, decreased risk, a better view of the data, and a partnership is worth any additional fees incurred.
Vendors are often used, and staff has to deal with the back and forth communication, often spending an excessive amount of time. It’s not just the cost of this time that is worth noting, but the fact that this time is distracting staff from what perhaps their focus should be.
It is a fact that businesses have experienced hacking situations or suffered a natural disaster that might have caused loss of data, the cost and ROI is something to consider. While the confidence in knowing that your data is backed up properly, securely, and know that you can be back up and running in a short amount of time is priceless.
A growing business must be flexible to adjust at the rate it’s increasing. In these types of situations, your infrastructure should be ready to support your business needs. Costs incurred for these types of items are not always identified until an issue comes up and you are having to deal with it. The ROI for having a managed service provider in place helps ensure that your staff is focused on growing your business, while having a consistent process in place adds up.
When considering managed services provider, keep in mind that it will give you the expert help you need without having to hire specialists internally. And that’s significant cost-savings. So rather than paying salaries and remember that by the time you pay for benefits, and training, and taxes, you pretty much must double the salary to get the true cost of hiring an employee when you could pay a reasonable per-project cost.