A managed services provider (MSP) is most often an information technology (IT) services provider that manages and assumes responsibility for providing a defined set of services to its clients either proactively or as the MSP (not the client) determines that services are needed. Most MSPs bill an upfront setup or transition fee and an ongoing flat or near-fixed monthly fee, which benefits clients by providing them with predictable IT support costs.
As organisations face significant challenges in scaling and managing their global Information Technology infrastructure while effectively reducing costs, it becomes much more cost effective to gain access to best in class tool sets, hardware, software and even niche technology experts by only paying for what they use by using managed service providers.
Sometimes, MSPs are contracted to manage multiple staffing vendors and to measure their effectiveness in filling positions according to a customer’s standards and requirements. In effect, the MSP serves as a “neutral” party that offers the customer a complete workforce solution while ensuring efficient operation and leveraging multiple staffing companies to obtain competitive rates. In this situation, MSPs typically use a Vendor Management System (VMS) as a software tool to provide transparency and efficiency — along with detailed metrics to the user — related to every aspect of the contingent and contract workforce. The model has proven its usefulness in the private sector, notably among Fortune 500 companies, and is poised to become more common in the government arena. (Source: Wikipedia)
Simply put, a Managed Service Provider is contracted to manage your network and IT infrastructure. This management may include servers, workstations, IT Budget, cloud services, data backup, disaster recovery and email solutions. Service First allows customizations of its services and management options.