Here are the top 6 recommendations for selecting a best managed services provider
In today’s competitive world, doing the right thing in the right way is crucial to becoming a successfully managed service provider (MSP). MSPs face multiple challenges in their journey to become legitimate options for organizations. We have put together a list of best practices that will help MSPs stand out in the competitive market.
- Inconsistent service delivery can affect customers’ trust and net promoter scores. Therefore, it is essential to ensure there is no compromise on the quality and excellence of customer service. One way to ensure service excellence is by employing artificial intelligence, hyper-automation, and data analytics.
This allows the delivery of managed services at scale with reduced repetitive work and enables data-driven decision-making. Furthermore, high-quality provision of services helps MSPs increase client retention rates, lower customer churn, and grow wallet share across their customers.
Focus On Skill Maturity
- Organizations are better able to develop and upgrade their applications with the adoption of DevOps practices. MSPs need to take advanced approaches to help their employees grow and become more productive. This helps in keeping up with customer expectations.
Create micro-learning training environments that combine information with short-term activities to promote faster acquisition and retention of knowledge. In addition, certifications in the cloud, DevOps, security, and other areas allow employees to master new technologies and be seen as trusted advisors.
Profit And Loss Analysis
- Another best practice that the MSPs need to adopt is performing detailed profit and loss analysis. This can include developing a pricing strategy with the cost for each service, calculating total expenses, quantifying ROI, and conducting a detailed break-even analysis.
Decide on the pricing model and figure out how much to charge from the customers. Create service bundles based on the client’s IT infrastructure and overall business.
Document Repeatable Processes
- Defining and documenting all repeatable processes can help provide consistent services across the entire client base. In addition, it supports the establishment of a unique work culture for the organization and trains new employees. The processes that greatly impact the delivery of quality services should be implemented.
Ease of Doing Business
- Organizations do not want to deal with equipment manufacturers that create complexity in managing, licensing, pricing, and other obligations. They want a hassle-free way of dealing with software vendors and multiple service providers.
Service providers need to work with their customers to create transparent contracts specifically tailored to the customers’ needs. This will result in greater traction. Compared to IT organizations, managed service providers need to be more flexible, transparent, fast, and service-oriented.
Win Customer Trust
- MSPs rely on recurring revenue for long-term success. Many MSPs strive for building high-percent entry points. Managed service providers should limit the scale of services and avoid taking over large pieces of clients’ business and all-inclusive kinds of contracts on the first go. This creates an opportunity to learn more about the actual requirements and expectations of the client.
In addition, it helps MSPs gain clients’ trust without appearing too eager to grab their attention. It is crucial to establish trust before talking to the client about possible expansion scenarios. Once trust is established, you can take services to the next level by openly communicating with the client. This effectively converts clients and drives more revenue.
Services providers can adopt these best practices to help their clients meet business objectives. This will help managed service providers experience significant growth, competitive advantages, and better engagement in a hyper-competitive market.
Maximize your critical technologies and enhance productivity by partnering with Micro Strategies. From managed infrastructure services to managed security services, our managed services fill in the gaps within your internal skill sets to help drive business outcomes. Call us at 888-467-6588. We are located in New Jersey, Pennsylvania, New England, and New York.