From cybersecurity to software applications, businesses turn to managed service providers (MSPs) as their team of experts.
It is essential that MSPs position themselves as their customers’ strategic partners by reducing the need to deal with multiple vendors. MSPs can create an operational structure that allows them to move faster, scale more, and be customer focused.
Boosting the Customer Experience
In the managed services space, it is essential to prioritize solving customer pain points with customized offerings to provide relevant, effective solutions. Adopting a subscription-based model allows you to establish ongoing relationships with your customers. It also supplies a predictable revenue stream.
Simplifying how customers get their technology solutions also enhances the customer experience. Providing IT and software as a service (SaaS) saves your customers from having to manage in-house resources.
You increase “customer stickiness” by offering personalized solutions and providing a user-friendly experience. This reduces customer churn and promotes long-term customer loyalty. By being proactive, you can address potential issues before they escalate, enhancing the overall customer experience.
The more add-ons you offer for cloud subscriptions, however, the more complex managing those subscriptions can become without end-to-end automation. Access to services should be frictionless.
A security solution from VMware will have different attributes or configuration parameters than a security solution from IBM, for example, so the ability to deploy this service in your catalog will be different. Your customers can ignore all the particulars, and receive one inclusive monthly bill.
Digital Ecosystems Benefit MSPs
One strength of a cloud monetization platform is automated management of subscriptions, catalogs, order fulfillment, and billing across multiple channels. As you connect vendors with solutions and services, eliminating manual processes improves efficiency and helps you scale faster.
Technology always evolves in a digital-first world. Partnering with other companies to bring your customers a host of services and products helps you stay on top of the latest trends. Digital ecosystems support collaboration and help you reach new markets faster.
For instance, customers can get IT management along with Microsoft 365 or Google Workspace in one bill, on a subscription basis. Your customers benefit from a one-stop shop with a wide range of available offerings, creating more cross-selling opportunities.
Transform your operations, centralize the delivery of services, and apply automation to quickly partner with new vendors and expand your catalog. Leverage your ecosystem partners to speed your time-to-market.
Cyberattacks Are Top of Mind
Research showed that seven in 10 MSPs named network security and data security as their top IT priorities. And more than 60% of companies surveyed in the MSP space said they suffered a cyberattack within the last 12 months. The most common threats were phishing, ransomware, or other malware attacks, and user account compromise.
The global cybersecurity market is projected to grow from $172 billion this year to $425 billion by 2030. As more customers work remotely, they need fast and secure access to digital applications from everywhere.
It is essential to have strong security measures in place to protect your customers’ data, tools, and systems, such as automatically updating technologies and processes. Employee certifications and staying current on industry standards are critical to serving your customers.
Business customers want the convenience of dealing with a single provider for most, if not all, of their IT support and software services, and they want to pay as they go. Focusing on customer needs and establishing ongoing relationships through subscriptions will help you gain a competitive edge.
With a cloud monetization platform, you can become more efficient, speed up your time to market, and enable the personalization of subscription-based services and products. A layer of connectivity and management behind the scenes empowers you to be the best experts you can be to help your customers.