IT outsourcing is billed as many things — a way to simplify your business, a way to reduce staffing needs, a way to get the latest technologies quickly — but above all, it’s supposed to save money. But partnering with the wrong IT outsourcing agency won’t save you money at all. In fact, this could be quite a costly mistake. Here’s how to assure that your rock-bottom price doesn’t become your bottomless pit of expenses.

Look for Cloud Services or a Hybrid Combination

By far, the most affordable way to get the technology you need today is in the cloud. For insurance companies that have certain data they don’t want to let out of hand, there are hybrid solutions available. Partner with an IT outsourcing agency that understands your needs for on-premises and cloud-based data storage and software applications. Choose an agency that gives you the perfect cloud and hybrid solutions to balance security and cost savings.

Partner with a Provider Offering the Best Security Solutions

Never underestimate the costs of downtime and security breaches. If your customer data were to be compromised, it would cost your insurance tons in terms of restitution, auditing and forensic investigation, and public perception. How many customers would you lose? How many potential customers would a significant data breach scare off? Similarly, downtime leads to lost customers, lost prospective customers, and a poor public image. Partner with an IT outsourcing agency that can offer you the lowest possible downtime and the highest possible level of security. Find out more about what it takes to keep your data secure in today’s age of security breaches when you buy the book ‘Easy Prey: How to Protect Your Business From Data Breach, Cybercrime and Employee Fraud’.

Find an IT Outsourcing Agency That Offers All the Services You Need

You won’t get the best possible price if you try to piecemeal the services of 2, 3, 4 or more cloud services together. Find an IT outsourcing partner that offers everything your insurance company needs, including data storage, cloud-based applications, mobile access, secure email, backups and DR, all together in a nice, affordable package.

Instead of Looking for the Lowest Price, Find the Highest Value

Don’t compare IT outsourcing firms head-to-head in terms of price. Some advertise a very low price, but nothing comes with that in terms of service and support. You could be paying by the minute for any technical or customer assistance you need, and those charges quickly surpass the costs of the provider that includes all those “extras” in their package. Find out what comes with the price. If everything is extra, the lowest quoted price definitely won’t be the lowest cost of ownership.

When you choose the right IT outsourcing agency you will enjoy value along with other great benefits.