Running a managed service provider business requires more than advanced IT skills. It also needs business management know-how that technical experts might not have. These administrative tasks can get complicated if you don’t get the right solution. It is why MSPs are best left working with MSP business management software.
What Business Management Software Can Do for You
Like many companies, MSPs need to provide more than IT expertise to their clients. They also have to take care of the back-office tasks, from payroll and billing to procurement and project management. The MSP business management software makes it easier for MSPs to cater to multiple clients without employing many people.
The business management software allows MSPs to spend more time building their business. It's possible because they can save time by automating admin tasks. Through this software, you can also look more closely into your finances to protect your profit. If you record billable time to the minute and generate accurate invoices, these can help protect your bottom line.
Typical MSP business management software usually has a help desk feature that streamlines customer support operation. It also keeps the support team responsive regardless of the issues being tackled. The software also prevents the team from missing a ticket even if you get them from emails, live chat, and phone calls. It’s all thanks to the help desk feature’s documentation of every support request. Intelligent dispatching is also expected with the software's overview of service team availability.
The software has billing services that can manage, track, reconcile, and generate billing for your clients. This feature simplifies the tracking of your team’s billable hours to the last second. It prepares your billing that will satisfy client audits. Proper time tracking also maximizes the use of every tech’s time on open tickets. Top-notch MSPs usually achieve an 80% utilization of their resources.
Sales and marketing services help MSPs manage lead generation efforts. These can widen your reach to potential clients and improve your retention and conversion rates.
An MSP business management software also comes with a project management feature. It can monitor your team’s progress in delivering the services promised. It can also help you deliver your projects on time, within the budget, and without compromising quality.
You can expect a reporting feature from the business management software as well. Your MSP team can get metrics and insights from it so you can make critical business decisions.
If you're worried about your purchasing process, the software can take care of it. Look for MSP business management software with a procurement feature. It can improve your internal purchasing system, inventory management, and warehouse management. It can also help with serial number tracking, asset management, and minimum stock levels. If you're struggling with special orders and advanced ship sets, the software can help.
Benefits of MSP Business Management Software
Investing in an MSP business management software is worth it because of its benefits. These include the following:
- Do things efficiently even if you only have a few staff in the team
- Eliminate human errors to improve consistency and efficiency further
- Make critical business information more organized and accessible
- Come up with data-driven decisions for the welfare of the business
- Boost internal communication
- Improve the customer experience due to efficient customer support and team accountability
- Avoid breaking industry regulations since some software come with built-in compliance features
- Access tools that help your MSP team accomplish their customer support jobs well
- Give the management team better visibility into the entire operations and staff activity
- More revenue and lower cost due to the improved billing, procurement, and reporting processes
- Build trust and customer relationships as you improve your service delivery, pricing policy, and information sharing
Conclusion
MSP business management software is an application that assists businesses in supporting, enhancing, and automating their processes. It helps eliminate errors, complete business tasks, and improve an organization’s overall efficiency.
Do you want the benefits mentioned above for your MSP too? You might want to try ITarian’s PSA RMM solution. It can help you save money on staffing while improving customer experience. ITarian can equip you with the right tools to handle the business side of your MSP while you focus on improving your IT services.
Are you ready for a better business management solution? Contact ITarian today to see how else we can help you improve your operation!