A managed service provider (MSP) is a third-party company that remotely manages and takes responsibility for a customer's information technology (IT) infrastructure and end-user systems. MSPs perform a range of day-to-day management services such as network and infrastructure management, security monitoring, and IT support. Organizations hire MSPs to focus on their core operations while the MSP ensures their IT systems run smoothly without extended downtimes or interruptions. MSPs often work under a service level agreement (SLA) which defines the expectations and quality metrics of the delivered services, including response times and performance standards. They can provide services on a subscription basis or as-needed technical support and often use specialized management software to automate tasks such as monitoring, patching, and maintenance. While many MSPs specialize in IT- related services, some also provide outsourced support in other business functions like marketing, human resources, contingent workforce management, and supply chain logistics. MSPs enable organizations to access expert management and technology services without the need to maintain large in-house teams, helping them improve efficiency and security. In summary, an MSP helps businesses by remotely managing critical IT and other functions so that the business can operate smoothly and focus on growth and service delivery rather than on technical issues or system maintenance. This model is used widely across industries and organization sizes from small businesses to large enterprises. This explanation is based on comprehensive definitions and details from sources including TechTarget, SAP, Wikipedia, and other expert descriptions of managed service providers.