An MSP can protect an organization against the latest malware threats, provide software patching and maintenance, monitor application compatibility, and perform other key parts of risk protection and cybersecurity. MSPs also manage organizations’ email security and help safeguard other data from cybercrime.
Some IT managed services companies can choose to offer communications support such as data, VOIP, or video as part of the provided and managed services package. Others will be able to support software applications that are hosted on their own servers and offered on a subscription basis. You may consider providing 24/7 support, either remotely or via a help desk.
IT professionals who choose to become MSPs typically work on a fixed-fee or retainer basis. The organization pays a set rate each month for the MSP to provide dedicated support. The terms of this are typically set out in a managed services contract and service-level agreement (SLA). These agreements dictate the specific services the provider can offer, the cost, and how the delivery of the services will be measured.

More info: What is a Security Operations Center (SOC)