Managed services refer to the practice of outsourcing specific IT and business operations to a third-party service provider, often called a Managed Service Provider (MSP). These services can encompass a wide range of tasks and functions that organizations rely on to maintain their IT infrastructure, support their business operations, and achieve their goals. Managed services are typically delivered on a subscription or pay-as-you-go basis and are designed to provide proactive, efficient, and cost-effective solutions to various business needs.