As a company owner in the manufacturing industry, you certainly understand technology’s vital role in ensuring the smooth running of day-to-day operations.
Businesses in the manufacturing industry are usually among the first to adopt any latest technology because this is essential for their processes. It includes storing employee, customer, financial, or product design records to guarantee smooth data transfer among the different operational locations.
However, this overreliance on technology brings up the challenge of finding a way to build a system that ensures everything is up and running and cybersecurity concerns are addressed. It is why managed service providers (MSPs) are crucial in the manufacturing industry to ensure production, management, and administrative duties run smoothly.
Without further ado, here are the different ways Managed Service Providers (MSPs) provide value to manufacturing industry companies.
1. Reduced Downtime And Increased Productivity
The last thing you want in your manufacturing site is downtime, which leads to considerable losses for your business. For example, downtime for a glass manufacturing company typically costs USD$15,000 per hour and USD$1.5 million each day for copper mining manufacturers.
If you need IT services in Boston, you should hire an MSP to help you avoid such substantial losses, and they do this by employing a proactive approach. It means they remotely monitor your system to spot, diagnose and troubleshoot possible issues before they get any more serious.
They also provide you with support 24/7, which is vital for manufacturing companies that typically operate beyond normal working hours. Therefore, they can quickly respond to any issue that arises and ensure your operations don’t stall for a prolonged duration.
2. Technology Implementation
Always strive to remain competitive to stand any chance of succeeding in the highly competitive manufacturing industry. An effective strategy of accomplishing this is your in-house IT team keeping track of the latest technology and adopting them in the everyday running of your manufacturing business. But this often proves challenging for this team as they’re also tasked with running the company’s day-to-day operations.
It is why hiring an MSP comes in handy for your manufacturing business. The MSP is at all terms up-to-date with the latest technological innovations and knows what’s the best options for your business. This way, your company is sure of adopting the latest upgrades that’ll better position your business for success in the future.
3. Ensure Quality And Compliance
Because the manufacturing industry companies employ technologically advanced technology, they’re expected to observe higher regulatory standards. These rules and regulations are set by different government agencies, including;
- Environmental Protection Agency (EVA)
- Food and drug administration
- Security And Exchange Commissions (SEC)
- California Consumer Privacy Act (CCPA)
- PCI DSS (Payment Card Industry Data Security Standard)
Violating any rules and regulations set by any of these agencies leads to severe consequences for your business and affects the smooth running of your company. Adhering to these rules and regulations will become more crucial as the world sees the evolution of digital manufacturing.
Some of the manufacturing businesses that are closely monitored for compliance include food and beverage companies, medical device manufacturers, automotive and aerospace companies, to name a few.
When working with an MSP, they’ll provide you with all the necessary guidance to ensure compliance with the set industry regulations. They do this by using their expertise to automate different company operations such as capturing, transmitting, and storing customer data. It helps ensure that you do obey the manufacturing industry’s regulatory requirements.
4. Enhanced Cybersecurity
Companies in the manufacturing industry are not as prone to cyberattacks as other industries. However, this isn’t a reason not to improve cybersecurity because getting hacked could result in a significant loss of business revenue and productivity. Hackers are also well-aware that manufacturing companies are lagging in implementing new technology and are instead using older machines and software.
With this in mind, it’s prudent to work with an MSP to implement innovations that make you less prone to a possible cyberattack resulting in data loss. And with manufacturers today storing extra sensitive and high-value data, it’s easy to see why hackers consider them as ideal targets. Innovations implemented by MSPs to shield you from these attacks include communication technologies, cloud computing services, industrial internet of things, and smart factories.
Besides incorporating safer and secure tools to older technological interfaces, MSPs also monitor suspicious cybersecurity activities. This proactive strategy further safeguards your company from falling victim to a cyberattack.
5. Predictable IT Spend
Cost minimizing should always be at the heart of every business, including manufacturing companies. But IT implementation doesn’t come cheap because it’s associated with extensive planning and use of resources. How much money you’ll spend during IT implementation depends on the size and type of manufacturing business you run.
These costs are linked to different variables, including training, availability, downtime, and labor. These costs can be a barrier to entry into this lucrative industry for a smaller manufacturing company.
Fortunately, working with MSPs is of great help during such instances because they can accurately forecast your IT spending. They also monitor the different IT costs to help you better organize your IT spending. Thanks to this, you’ll be in an excellent position to prepare your company for whatever financial implications that arise due to digital transformation.
Besides making it a lot easier to budget more effectively, the MSP helps you make predictable strategic decisions that boost the company’s growth.
6. Deal With Skill Shortages
Your in-house IT team is often overwhelmed with the day-to-day running of the business. Because of this, they might not effectively handle the management of IT resources due to not having enough time to make informed and strategic decisions.
During such instances, an MSP comes of great help because they take off such duties of your internal IT team. With less pressure, your in-house team can focus on other more critical aspects that save resources time and cut costs.
Managed Service Providers
Many businesses, including those in the manufacturing industry, are hiring the services of Managed Service Providers (MSPs) to ensure they’re up-to-date with the latest technological innovations, streamlined performance, and enhanced cybersecurity.
With this proactive approach, these manufacturing companies have realized substantial growth due to perfectly adapting to the growing needs of today’s digital world. This guide has detailed how MSPs help manufacturing industry businesses achieve this to quash any reservations you might have had about seeking their services.