A term which you may have heard but what is an IT MSP? We use it a lot in the IT industry but then again, we "love" an acronym! A Managed Service Provider (MSP) is an external company, businesses like yours contract to manage their IT infrastructure and/or end user systems (Or as per this Wikipedia article many other services such as utilities). In an IT world typically it will be on a proactive basis, under a subscribed plan of a service level agreement.