A managed IT service provider (MSP) is a third-party company that remotely manages a customer's infrastructure and technical operations. They handle tons of different services, including allocating bandwidth, installing updates, managing backups, and helping the client stay on top of diverse IT systems with their managed IT services. 

Why do SMBs need to hire Managed IT Service Providers?

Managed IT services offer more benefits beyond what you notice at first glance. Some of their most should be noted advantages are:
Reduced costs- Hiring, training, and retaining IT staff can not only be time and space-consuming but can also burn a hole in your pocket, especially for small and medium businesses. Whereas outsourcing lets you follow your budget and focus on your core business.
Improved Quality of Work- It's well said that "if you chase two rabbits, both will escape." Burdening your employees with tasks other than they were hired to do could result in the business's downfall, as managing the IT part requires rigorous training. Instead, handing over your IT services to MSPs can not only let your employees focus on their core work but also leaves you with immense satisfaction.
Improved Security- Managed IT service providers are knowledgeable about the risks in today's business environment and can assist businesses in minimizing those risks. By outsourcing your IT Security to a managed service provider who is focused on safety, you can feel confident knowing your systems are secure. Further, top managed IT services can also offer insight into the regulatory compliance requirements of your industry and help ensure that your business remains compliant and up-to-date. 
Advantage of Competitiveness- Small and medium business owners on their own run the risk of not being able to match the in-house IT competence of large companies, which often results in more significant expenditure. By outsourcing tasks and operations relating to IT, small businesses get the same level of expertise and technology support that larger companies enjoy.
Scalable- Scaling your network can be difficult, especially if you have to do it alone. It would be best to have a team of engineers and other individuals who will help you scale when needed. However, that adds extra costs to your business. Whereas MSPs can help you scale up or down whenever needed and help your business stay flexible.
So, these were some of the excellent benefits of Managed IT Services that every Small-medium business should benefit from.