"Managed services" is defined as an umbrella term for third-party monitoring and maintaining of computers, software and networks. The actual equipment may be inhouse or at the third-party's facilities, but is running at a certain quality level or keeping the software up-to-date.
For example, an ISP (Internet Service Provider) that hosts a web site typically offers managed services. If the web server goes down, the ISP would be responsible for restoring it. If an organization requires a secure, available, and redundant IT environment to support their business-critical systems and applications, usually it needs the managed IT services including replication services, storage services, hosting services, network services, managed security services, email and collaboration services, disaster recovery solutions, and application services, etc.
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