INDUSTRY VIEW
SMART MSPS POISED TO DELIVER RETURNS FOR INVESTORS
MARTIN FORD , CEO POPX
The demand for IT services is only going to increase as businesses continue to embrace digital transformation , making MSPs an attractive investment opportunity says Martin Ford at POPX .
For those institutional investors , owners , and operators of Managed Service Providers , MSPs wondering whether the managed services model is still viable , the answer is a resounding yes . Investors are looking for a safe place to put their money , especially under the pressure of slow economic growth and MSPs remain a safe bet for those seeking recurring revenue from resilient business models .
Arguably one of the biggest threats to MSPs is the emergence of non-traditional competitors that act as digital native disruptors and have an immediate advantage with a slick service offering . To combat this new wave of competition , many service providers are looking at ways to differentiate themselves through enhanced customer experience and the development of new products . The central pillar of this strategy is digital transformation .
However , transformation does not solely apply to improving IT processes . It is all-encompassing and must be directly
The MSP industry is still relatively new , and there is plenty of room for growth . linked to delivering a better customer experience . Only by adopting this approach will MSPs maximise the benefits and achieve a full return on transformation investments . For example , according to research by Deloitte , organisations that focus on a customer-centric approach are 60 % more profitable than those that do not .
Adopting a smart approach to business
Digital transformation requires MSPs to challenge traditional business processes by adopting an innovative approach that puts customer needs first . However , maintaining a balance between the need for change and keeping focused on core business values can be challenging . The reality is transformation cannot happen fast enough , but it is a delicate process .
Transforming to a Smart MSP does not happen overnight . The key factors to making it successful include the consolidation of disparate tools , integration of internal , external , and third-party systems , and the automation of tasks and processes .
But what makes a smart MSP stand out from the crowd ?
Lead with innovation
Implementing automation into service delivery is key to becoming a Smart MSP . It can significantly improve efficiency and reduce costs . Furthermore , adopting agile development methodologies will allow MSPs to provide more flexible and responsive services .
Leverage technology
Differentiate from competitors by improving service delivery via new technologies . Using artificial intelligence , machine learning , and data analytics will improve the quality of services as well as provide a more personalised approach .
Focus on client needs
Automation will help deliver improved , streamlined customer service , and remove levels of complication . It ’ s also important to conduct regular client satisfaction surveys , gather feedback and use responses to improve services .
Encourage employee innovation
Empower employees to propose new ideas and approaches . Challenge them to think outside the box to create a culture of innovation that rewards creativity and risk-taking .
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