Blog: Managed Services

Innovation as a Service: Why Managed Services Is the Answer

November 28, 2023 - by Synoptek

The fact that technology can take businesses to new heights is known to all. This explains why the growth of the global digital transformation market is expected to reach $4.6 trillion by 2030. But digital transformation cannot (and should not) be a one-time activity. Regular and efficient technology management is vital to accrue the best returns from tech investments – which can be achieved with the help of Managed Services.

Innovation as a Service: Why Managed Services Is the Answer

What is Innovation as a Service?

Innovation as a Service facilitates organizations’ continuous development and growth, allowing them to build and scale their products and services. It enables them to focus on their core business while leveraging third-party knowledge and proficiency to steer their innovation capacity.

The main idea of Innovation as a Service is to offer a business model where services and solutions can be accessed remotely. Innovation as a Service also ensures all the necessary nuts and bolts that keep an organization successfully running are in place. Through effective and secure management of non-core yet critical tasks, Innovation as a Service improves the capacity of organizations to innovate and keep pace with an evolving market.

Examples of Service Innovation with Managed Services

As businesses operate in a dynamic and highly volatile environment, Innovation as a Service is emerging as an effective response to growing demands. Managed IT Services are popularly embraced to drive innovation across businesses of different types and sizes. They help build a robust technology foundation and streamline day-to-day management – allowing businesses to identify and create new offerings and drive their business forward.

Through collaborative engagement, Managed Services help in rearchitecting legacy systems, revamping processes, and rethinking customer service. By taking care of key business functions such as application management, data analytics, cybersecurity, workforce productivity, cloud management, and more, Managed Services empower businesses to divert all their resources to focus on continuous innovation. Let’s look at how Managed Services help drive service innovation in different industries:

Service Innovation in Financial Services

As the financial services industry navigates today’s unpredictable economic and regulatory landscape, Managed Services enables firms to address internal and external forces. By taking care of all the tools and systems that power the business, Managed Services allow C-suite financial services executives to:

  • Have a robust, scalable, and secure infrastructure to respond to change with agility.
  • Leverage deep industry insight and technology know-how to invest in modern solutions.
  • Get continuous access to advisory and leadership expertise to integrate technology into the overall business strategy.
  • Receive 24/7 support for cutting-edge technology tools and systems and ensure high uptime and availability.
  • Enjoy continuous improvement of operational and business processes and deliver best-in-class services to customers.
  • Minimize costs through efficient system management, better compliance management, and reduced exposure to risk.
  • Have the latest security measures in place, including encryption, firewalls, and threat detection, to safeguard sensitive financial data.
  • Navigate complex regulatory requirements and maintain compliance with evolving industry standards.

Service Innovation in Manufacturing and Distribution

The manufacturing industry is facing the brunt of the volatile economic environment, supply chain inefficiencies, and constant globalization of businesses. Managed Services enable manufacturing and distribution companies to address these challenges head-on and keep pace with evolving trends. With a Managed Services partner in tow, manufacturers can:

  • Leverage modern tech innovations for resource management, streamlined processes, and seamless shop floor collaboration.
  • Optimize time-to-market with tailored enterprise solutions, enhancing daily operations for increased efficiency and speed.
  • Empower the workforce with modern digital tools and reduce the strain of mundane activities with automation.
  • Modernize manufacturing operations via advanced integration and analytics and enable data-driven decision-making.
  • Streamline routine operations by integrating siloed systems, upgrading legacy systems, and monitoring equipment 24/7.
  • Proactively detect equipment inefficiencies, build lean production processes, and enable smart automation.
  • Effectively manage growing volumes of data and ensure the implementation of the right policies to comply with local and global regulations.
  • Maintain a comprehensive 360-degree perspective on customers, sales pipelines, and operations, and craft an intelligent supply chain accordingly.

Service Innovation in Healthcare

The healthcare industry is experiencing substantial growth, with new diseases, drugs, and operating models continuously emerging. Managed Technology Services pave the way for secure and reliable healthcare operations, improving patient diagnosis and treatment. Partnering with a Managed Services Provider can enable healthcare firms to:

  • Efficiently manage and integrate growing volumes of data across stand-alone EHRs into a single, unified cloud repository.
  • Focus efforts on patient care and clinical activities while leaving IT management to experts.
  • Modernize applications, improving operational efficiency, user experience, and healthcare decision-making.
  • Ensure 24/7 uptime of critical healthcare systems, minimizing interruptions in patient care.
  • Leverage cutting-edge technology solutions without the need for extensive internal research and investment.
  • Have robust security measures in place to safeguard sensitive patient health information (PHI).
  • Exploit advanced monitoring tools to identify and address issues before they impact healthcare operations or result in downtime.
  • Proactively manage growing risks while always ensuring compliance with regulations such as HIPAA, FDA, OSHA, and more.

Why Are Businesses Choosing Innovative MSPs?

As organizations in different industries realize the long-term benefits of Managed Services, many are seeking to engage with innovative Managed Services Partners (MSP). An innovative MSP can help them unleash their full potential with our world-class services. The right partner can help conquer challenges, seize opportunities, and forge a path to unparalleled success.

Partnering with innovative MSPs enables businesses to:

  • Identify unknown risks and mitigate them effectively while growing and optimizing the business.
  • Minimize the impact of outages, security threats, and data loss and ensure the business is running reliably 24/7.
  • Maximize technology investments while constantly exploiting new innovations and keeping up with the pace of change.
  • Not worry about complex IT management and focus on the core business, while driving unrivaled ROI and tangible, measurable business results.
  • Adopt the latest security tools and processes to maximize security according to industry best practices and fortify systems against potential threats.
  • Evolve and adapt to the pace of change, while driving growth in a cost-effective manner.
  • Deliver responsive and proactive support to customers and ensure high levels of satisfaction.

Partner With Synoptek for Business Innovation

The burden of running key business functions often causes technology management to take a backseat. With an innovation partner like Synoptek, you can streamline the complex task of managing and maintaining your technology systems. Whether your systems are managed by your in-house teams or by an incompetent, third-party partner, we can provide tailored, bespoke solutions that cater to your unique business requirements.

Our relentless focus on and commitment to security and compliance ensures sensitive business and customer data is protected around the clock. With us as our innovation MSP, you can be sure to receive seamless support. Our expert pool of resources can help bridge the skills gap and deliver technology-agnostic and vendor-lock-in free services that fit your budget and timeline constraints.

Explore our range of Managed Services today to grow and expand your product/service line, strengthen your market position, and drive business excellence.

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Contributor’s Bio

Stephen Currie

Stephen Currie

Vice President, Support Operations and COE

Stephen Currie is Vice President, Support Operations and COE at Synoptek. Over the course of his 26 years professional career, he has held various roles in the technology space and has extensive experience in Cloud Hosting, Networking, Security, Application Management, Workforce Productivity, Global Operations, and IT Service Management.