A typical MSP will spend about 15%–20% of their gross revenue on IT management software. To make the most out your investment, be sure the products you invest in are built for the challenges that service providers serving small- to mid-size businesses face and have tight integrations with one another, enabling you to streamline your business, increase your technician efficiency, and grow your business.
Here’s a look at the five essential tools you need to run a successful business:
1. Robust Remote Monitoring And Management (RMM)
Your RMM solution proactively monitors and maintains systems, detects issues and fixes them, and helps you move your MSP more easily to a subscription-fee model, creating consistent revenue flows and better visibility into the health of your business. A robust RMM solution should provide powerful automation, remote control, and third-party patch management, all of which will enable you to reduce labor costs and scale your business.
2. Comprehensive Professional Services Automation (PSA)
Your PSA is the nerve center of your MSP operation. Not only do you need software that allows you to easily create, manage, and resolve all your service requests and tickets, but your solution should also include billing, project management, and asset documentation. Several vendors offer integrated PSA/RMM as well as integrations with other IT business management tools that can make your technician’s life simpler, provide you with opportunities to create more of an automated business, and drive your business’s efficiency.
3. Effective Backup And Disaster Recovery
Backup is much more than old pieces of dusty hardware. Be a hero and reduce your customer’s downtime with instant recovery, ransomware detection, and automated DR testing fueled by AI and machine learning. Look for a vendor that provides competitive SaaS backup offerings, especially for core business SaaS applications like Microsoft 365, G Suite, and Salesforce.
4. Automated IT Documentation
Documentation is critical for effective IT support. Technicians who have access to documentation about the infrastructure they support can dramatically reduce the time it takes them to resolve issues. A better documented business mitigates operational risk and increases the quality of support by creating repeatable procedures. Be sure your IT documentation platform has strong automation capabilities to decrease the amount of human intervention required to create, maintain, and share documentation.
5. Expansive Security Suite
When it comes to security in 2021, you’ll need to assemble a collection of tools to cover all the bases. Modern security tools protect SMBs from phishing, ransomware, dark web compromise, and the advanced virus and malware tactics in use. Employee security training is another smart offering for any MSP to provide in 2021. Dark web monitoring is hands down one of the best prospecting door openers, as it immediately identifies the huge risk to the business. Look for vendors that can integrate backup and compliance with security offerings to get the most bang for your buck.