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5 Reasons Why and How MSPs Benefit From IT Automation?

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5 Reasons Why and How MSPs Benefit From IT Automation?


Managed Service Providers (MSPs) have truly turned into a must-have for modern-day businesses as they ensure the smooth functioning of the IT department, relieving the staff’s workload so that they can concentrate on other crucial, creativity-driven tasks.

Businesses will want to adopt automation now if they wish to survive in today’s fiercely competitive markets. Innovation and excelling every day are the way to sustainability and success in this business environment.

The benefits of IT automation processes are being greatly reaped by Managed Service Providers (MSPs). IT automation provides MSPs with advantages, including lower expenses, fewer mistakes, and higher productivity. MSPs can scale their operations, get better data, and increase their dependability through automation.

IT Automation — What is it All About?

The process of creating systems and software solutions to reduce manual intervention and automate repetitive processes is referred to as IT automation. The program is configured to carry out operations and repeat instructions during the automation process. As a result, it gives the IT team more time to focus on other strategic tasks.

There are several ways that MSPs can use IT automation. The most typical types of automation are:

  • Cloud automation
  • Security automation
  • Network management
  • Resource provisioning
  • Configuration

The Need for Managed Service Providers

For a company to be greatly successful, it needs to have more productivity, better efficiency, and precision. But increasing productivity and efficiency can be difficult, and sometimes organizations lack the means to do so. As a result, businesses think about outsourcing their operations to managed service providers in order to maintain quality, boost performance, and cut costs.

Why MSPs Need Automation and AI

To deliver faultless service and finish projects on time, MSPs (automationedge dotcom) must meet customer expectations and keep ahead of any cybersecurity threats. Lower productivity creates a negative impact on the troubleshooting process and the customer experience.

For MSPs, maintaining their competitiveness is a major concern. How can MSPs grow to provide their clients with cutting-edge services while ensuring a top-notch customer experience and greater profitability? The answer lies in automation and AI solutions.

Let’s dig further into why you’ll want automation for your MSPs.

Why automated processes are crucial for MSPs

For their clients, managed service providers (MSPs) must do a wide range of jobs and activities, some of which are critical and urgent and others which are routine everyday duties that must be completed to ensure best practices.

Regular maintenance activities, system patching, onboarding of new users, and other fundamental chores are frequently carried out by technicians. However, when critical issues arise that must be resolved right away, this takes time away from them and prevents them from performing fundamental tasks.

This means that those fundamental tasks are far too frequently neglected. In the case of patching, this may hurt a customer’s business if a breach occurs due to a lack of a security update. MSPs can lessen the possibility that problems like these will arise by implementing automated tools and processes, and the organization can benefit too.

Let’s decode the top five reasons for MSPs to implement automation:

  • Automation in IT Reduces Costs

Even though adopting an IT automation solution can be expensive initially, managed service companies ultimately wind up spending less money overall. The majority of MSPs have redundant duties that may require more labor, yet hiring people to complete those jobs is expensive.

MSPs may manage more clients without incurring the additional costs associated with recruiting more people, thanks to the adoption of IT automation. MSPs can also complete these responsibilities with a greater level of proficiency, thanks to IT automation.

By consistently providing high-quality service at an affordable price, they remain one step ahead of the competition. As a result, the operational costs are frequently minimal.

  • Remote Management and Monitoring

MSPs manage all software updates, secure all client devices on their network, and remotely monitor each workstation. Remote monitoring and management are the actual labor that any service provider would perform for their clients, and an MSP firm is a 24/7 job.

The health and performance of every system must be regularly monitored by MSPs; therefore, a break-fix service is completely ineffective in this situation. To check for issues, the client does not need to stand next to the system. Even on weekends or at odd hours, if a problem arises, the MSP specialists are in charge of promptly resolving it.

Automation technologies would save time, money, and resources by enabling MSPs to assess everything remotely and preventatively handle any issues as opposed to having to travel to the customer’s site to evaluate the operation of all systems.

  • Increase Productivity while Cutting Operational Costs

MSPs have a great chance to cut expenses through automation. Being a service-oriented business means that roughly 70% of the expenses are labor-related for managing and servicing the clients.

The productivity of MSPs will grow, and the number of operators per device will drop dramatically as a result of automation. Scalability will always be the aspect of automation that MSPs can directly profit from. MSPs must cut expenses in order to succeed, but they also need to be able to scale up significantly.

By adding a new degree of efficiency to the business, automating IT activities enables MSPs to expand their client base while upholding their SLA. Beyond the limitless data processing capacity of machines, you can now meet your higher throughput with intelligent analysis that feeds your service side automation to ensure a better customer experience.

  • Enrich Customer Experience

Giving customers access to secure portals with user-defined performance data is one approach for MSPs to cut expenses with automation. This kind of solution will boost the business’s revenue and open up new top-line prospects. By incorporating requirements and standards into processes and maintaining audit trails, automation will also enhance quality, governance, and compliance procedures. Service quality is also boosted by automation.

Often, quality is preferable to quantity. It is preferable to serve five clients adequately than ten clients poorly. MSPs can use AI-based automation to raise the caliber of their services. AI is able to recognize consumer problems, learn from the data collected, and provide prompt answers and services. Automation can provide real-time help to handle issues before they arise, cutting down on wait times and lowering customer churn rates.

There are numerous data attackers attempting to harm businesses or profit by stealing critical client or company data. By safeguarding the data and ensuring that businesses can bounce back from a disruptive occurrence, a smart MSP will assist them in preparing for the worst. They will also assist in defending the network against ransomware and other online crooks.

MSPs assure that regular security testing and monitoring are part of the regular maintenance plan. Through backup and recovery procedures, a trustworthy MSP will guarantee overall business continuity.

Conclusion

The majority of SMBs lack the time and funds necessary to invest in automation. They consequently have routine IT chores that either go unfinished or are finished at a considerably higher cost than is required.

MSPs are driven to automate as much as possible. The more they can automate, the less time is spent on each client’s support by humans. This offers the client a solution that is of greater quality, more dependable, more scalable, and may be provided at a reduced cost.

As a result, the MSP can attract more customers. The best-managed service companies are familiar with automation. This is somewhat driven by the necessity to step-up to the tech advancements. They need a better approach to handle the effort associated with serving several clients across various networks.

These factors encourage MSPs to make investments in automation. Because they profit from superior solutions and cost reductions at the same time, this is wonderful for their clients. MSPs must use IT automation if they want to grow their businesses and maintain a competitive edge.

With the use of automation solutions, businesses will reach larger audiences without sacrificing quality or personalization.

In reality, MSPs that use automation are able to refresh their knowledge base, protect their client’s networks, and hit the tech bullseye all at once!

Featured Image Credit: Provided by the Author; Thank you!

Aboli Ghule

Aboli Ghule is a digital marketing professional and freelancer. Digital marketing is about knowing what makes people tick. It’s also about crafting strategies to make your brand the best, most exciting thing on the horizon. She loves to do that.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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