11 Pros & Cons of Managed IT for Biotech Companies

Editor's note: This post was originally published on July 21, 2023 and has been revised for clarity and comprehensiveness.

Biotech companies push the boundaries of science. 

Yet, some find their IT infrastructure struggling to support innovation, putting research at risk. Managed IT services luckily offer a way to modernize and secure your biotech company's technology.  

But is it the right move for you? 

While MSPs (Managed IT Service Providers) bring major benefits, there are still trade-offs to consider. Here at Intelligent Technical Solutions (ITS), we understand that every business has unique technology needs — that’s why we want to provide the right information to help you make an informed decision. 

In this article, we break down the eleven biggest pros and cons of managed IT for biotech companies so you can make an informed decision when partnering with an MSP.  

What are the Pros of Managed IT for Biotech Companies? 

1. Saves money & reduces IT costs 

Biotechnology is booming in the United States, with an estimated revenue of $215.4 billion in 2024. Despite the eye-watering figure, money is (unfortunately) a limited resource; IT expenses add up fast— cutting into funding that could’ve been used for better research opportunities. 

A managed IT provider directly helps reduce costs by: 

• Lowering IT staffing expenses
  There’s no need to hire an entire in-house IT team; no training needed, no monthly salaries, no 401(k)s, or health insurance benefits to sort out. You pay one bill— and that’s it. 

• Preventing expensive cyberattacks 
  While there’s no specific data for biotechnology, the average cost of a data breach for the tangential pharmaceutical industry is a whopping $5.1 million. MSPs prevent the possibility of you having to shell out this money to fix a breach. 

• Optimizing hardware and software
  Inefficient tech will cost you— whether in the morale of your crew or by pushing up your tech debt. An MSP cuts down these costs by working out inefficiencies and fixing outdated tech. 

• Minimizing downtime 
  Downtime directly cuts into your revenue. System failures mean lost research, productivity, and funding. MSPs minimize downtime costs, keeping your company up and running. 

💡Try the Downtime Cost Calculator 

2. Provides 24/7 IT support 

Biotech operates continuously, and so should your IT support. Whether it’s coordinating with global research teams or ensuring long-running experiments aren’t disrupted, an MSP helps by having qualified technicians always on hand for you to call. 

There’s also someone online, all the time, to catch any tricky cyber-attacks trying to take advantage of nighttime.  

3. Strengthens cybersecurity & data protection

Security teams identified the most breaches—42% of the time, much more than benign third parties and attacker disclosure.  

And an MSP provides one, already ready for your company. They’ll work to identify security gaps before hackers exploit them, update your systems with the latest security patches, and implement best-in-class protection against malware, phishing, and breaches. 

4. Ensures regulatory compliance

Whether it be the FDA, the U.S. Environmental Protection Agency (EPA), or USDA's Animal and Plant Health Inspection Service (APHIS), your biotech business is under some kind of regulation. 

An MSP can help you stay compliant with the IT standards of each regulatory board. They can manage data security policies to align with industry regulations while providing documentation and audit support. 

5. Easier cyber insurance applications 

Managed IT also has the added benefit of a more straightforward cyber insurance application. Some insurers don’t allow companies missing key security features to get insurance, and your MSP can help you meet these requirements.   

RELATED: 5 Things to Check to Get Cyber Insurance Approval 

6. Provides reliable data management

Data is your biotech company’s lifeblood, and losing it can be devastating. You can’t replicate all experiments, and a misplaced contract is a headache you want to avoid. 

A managed IT provider is well-versed in data management, especially with the implementation of reliable backup and disaster recovery plans. They have the distinct advantage of having the capacity to frequently do tests to ensure recovery plans work. 

They also have the ability to monitor and secure sensitive research data due to their specialized IT security staff, tools, and protocols.