Managed Instances are a high-level way of looking at Skeddly actions.
One way of looking at it is that Managed Instances is to Skeddly actions like Elastic Beanstalk is to Amazon EC2 and Amazon RDS.
When you set up a managed instance, Skeddly will manage the underlying actions for you to perform the instance starts and stops, backups, and snapshot deletions, You simply provide details about the EC2 instance and the desired schedule and Skeddly will do the rest.
Managed Instances will use the following actions to handle your instances:
Start/Stop Instance - Start EC2 Instance
Backup Instance - Backup EC2 Instance or Create AMI Image
Delete Backups - Delete EBS Snapshots or Deregister AMI Images