Next Level Now

Strategic Outsourced Accounting + Fractional CFO Advisory

Next Level Now
  • SOAR+ Outsourced Accounting
  • Fractional CFOs
  • Industries
    • ABA Organizations
    • IT and Managed Services
  • About Us
    • Our Team
    • Our Partnerships
    • Testimonials
  • Blog
  • Careers
  • Contact Us

technology

  • Home
  • News / Blog
  • technology
How to Improve Your IT MSP Business Model

How to Improve Your IT MSP Business Model

  • November 30, 2021
  • CFO TipsGoal Setting

Joe Peppard, Principal Research Scientist for MIT’s Sloan School of Management published this article in the Wall Street Journal. In the article, he argues that businesses should consider getting rid of their IT department. While IT helps companies stand out from their competitors, he says that companies should integrate the functions of IT with front-line operations so they can innovate more effectively for their customers. While you may agree or disagree with his argument after reading the article, you should consider this a potential wake-up call to improve your IT MSP business model. Learn how you should adapt your IT managed service provider business.

Consider How Your IT MSP Business Measures Success

Are you looking to the future? Do you think next year will be a repeat of last year? Think again. To improve your business, we recommend challenging your IT MSP’s service offerings. IT professionals, whether internal or external in an IT MSP business, need to be rethinking their purpose. Is your IT MSP business model simply focused on break fixes while running on an island in support of “the business” as Peppard postures in the article? Do you measure your IT MSP’s success in:

  • Uptime?
  • Minutes in the queue?
  • Ticket resolution?

If so, you should reconsider why your IT managed service provider business exists. As an MSP, you should provide more value than the standard, out-of-the-box services of previous years. You should help clients fully-integrate their IT department with the other areas of their business. Furthermore, one of your primary focuses should be client satisfaction as opposed to the numeric “success” metrics listed above.

Evolve Your IT Managed Service Provider Business Model

For example, our own hardware needs have become minimal at Next Level Now. In today’s day and age, everything has been moved to the cloud. Essentially, computers are no different than office furniture. So, business owners expect laptops, printers, docking stations, security, etc. to be set-up and working immediately as a new hire starts. And it should remain that way, period. Furthermore, end-of-life replacements are now plug-and-play and software upgrades and patches are constantly in the background and not intrusive. The COVID-19 pandemic, and the coinciding push to remote work, has only accelerated these facts. Your IT MSP business model should reflect these new realities.

Align Your IT MSP Business Model with What Matters Most

Software training for new hires or software implementations, such as SharePoint, now take precedence over hardware. The real work gets done at the software level in every department. Does your IT Managed Service Provider business model reflect that? Is your workforce helping employees in individual departments apply and use the next technology or software? These are questions you must consider to be relevant today as an IT MSP business.

There is also an important humanity aspect that many IT MSPs are missing. Shift your strategy from simply focusing on keeping a clients’ systems up and running. Instead, focus on serving the role of a trusted advisor for your clients in both times of need and times of success. As a business owner, there is incredible value in having a strategic partner who has a deep understanding of how to optimize your business systems and technologies. Look to the future, maximize their software and optimize their systems and network for what’s ahead, instead of simply being reactive and fixing problems as they arise.

Contact Us: Let’s Discuss!

At Next Level Now, we urge you to challenge the status quo. The IT MSP landscape is changing, so your company must adapt with those changes to best serve your customers. Evolve your IT managed service provider business model to align with the priorities of businesses today. Visit our Contact Us page and let us know what you think. We would love to hear your thoughts and comments.

Financial Technology that Can Help Your Company Succeed

Financial Technology that Can Help Your Company Succeed

  • October 20, 2021
  • CFO Tips

Accounting technology has transformed the profession entirely. Now, complex audits and financial processes are more accurate and efficient than ever before thanks to automations and innovations. Discover the key financial technologies that we recommend and how they can help your company succeed and enhance your accounting plans. 

Gain Insights with Sage Intacct

Sage Intacct is a cloud financial management system that provides shared computer processing resources and data to computers and devices in the network on demand. Its main advantage is that it automates important processes while also providing insights into real-time business performance. These insights include comprehensive reporting and analysis that boost team productivity and drive results. It also provides automated procure-to-pay that greatly reduces errors and processing costs. 

Enhance Accounting Plans with Acumatica

Acumatica is a Cloud ERP solution that promotes growth within companies through their robust data and cross-team workflow. The platform promotes transparent collaboration and is fortified with AI-powered automation. The system is user-friendly and companies who integrate the tool benefit from its streamlined software and interface. Also, Acumatica is bolstered by its security and privacy through role-based permissions and access control mechanisms around all site perimeters.

QuickBooks

Companies can further their success through software like QuickBooks that tracks income, expenses, and more. Besides its organizational capabilities, it also offers insights to drive better business decisions. Users have access to balance sheets, cash flow statements, profit and loss statements, and other customizable financial reports. They will also be able to manage: 

  • Job costing
  • Expenses
  • Invoicing
  • Tax deductions
  • Receipt capture
  • Cash flow
  • Sales and sales tax
  • Project profitability
  • Analytics and insights
  • Batch invoices and expenses
  • And more!

Drive Success with Gusto

Gusto is a platform that offers tools beyond payroll and accounting. It provides assistance with employee benefits, HR, time tracking, and more. Gusto’s payroll tool calculates and files taxes to the right government agencies every time you run payroll. It also enhances compliance by time tracking, auto-calculating, and reducing forgotten signatures on important documents such as I-9s and W-2s.

Contact Us to Enhance Your Accounting Plans

We are proud to offer guidance on the aforementioned software platforms, and also have experience with BillPay.com, Proliant, Expensify, and more! Our outsourced CFOs and accountants can help your business succeed today. Contact us to get started.

  • Home
  • News / Blog
  • technology

© 2022 Next Level Now

  • Facebook
  • Twitter
  • LinkedIn
  • SOAR+ Outsourced Accounting
  • Fractional CFOs
  • Industries
  • About Us
  • Blog
  • Careers
  • Contact Us
  • SOAR+ Outsourced Accounting
  • Fractional CFOs
  • Industries
    • ABA Organizations
    • IT and Managed Services
  • About Us
    • Our Team
    • Our Partnerships
    • Testimonials
  • Blog
  • Careers
  • Contact Us