Digital transformation is essential, but for MSPs, it is a risky opportunity – Promoted Content
Although digital transformation remains the priority for companies, finding the right partner to seize the opportunity remains a challenge. Socoro study shows that 91% of MSPs have had discussions with their clients about the transformation strategy, however, 66% of them lack the financial capacity to build teams to provide a transformation service full.
Additionally, most of them do not have a comprehensive understanding of what they can offer their customers through transformation. For example, only 28% of MSPs even have a basic understanding of the data available through Microsoft 365.
“This lack of awareness is more of a concern than simply representing a difficulty to perform,” said Socoro director Rebecca Kennedy. Many PSMs that Socoro does business with are not even aware of their legal obligations regarding proper documentation of the extent of advice they provide to their clients.
“Most MSPs simply cannot afford the massive cost of a team of business analysts, data engineers, UI / UX designers and developers needed to reach the level of digitization and volume of automation required to stay relevant and ahead of the technology curve, “Kennedy said.
Meanwhile, the majority of companies lack the internal capabilities to implement the vision of digital transformation. Gartner Research shows that “53% of organizations have not yet been tested to face the digital challenge and that their readiness for digital transformation is therefore uncertain. “
One of the main obstacles is the lack of available skills. “It is not an easy task for this cohort to identify and acquire the digital skills that their organization needs to continue the digital transformation imagined after COVID-19”, Gartner analyst Scott Engler noted.
It should be the MSP who is responsible for filling these gaps and assisting its clients in the transformation process. To do this, PSMs also need help.
Exposure to risk
“MSP’s ability to execute the digital transformation strategy and the risk that this entails has been the driving force behind the development of the Fusion MSP system by Socoro,” said Kennedy.
Fusion MSP is a modular system that operates from a secure cloud platform, capturing critical business data flows and facilitating a range of dynamic reporting capabilities. It provides administrative support, using automation to reduce labor intensive tasks and the risks created by double administrative management.
The system also improves transparency in IT environments and can reduce the legal exposure of MSPs – for example, by streamlining and securing interactions to reduce the risk of someone adding unauthorized users to customer environments.
Fusion MSP modules include device management and monitoring, user management, license management, ticket reporting, and ticketing using information imported from standard ticketing apps such as Datto’s Autotask and ConnectWise, as well as a notification center; with contracts and invoices in the coming months.
Kennedy said that “the solution is capable of addressing the biggest challenges MSPs face in implementing transformation, namely their ability to properly resource, monitor and document transformation projects.”
“We have found our research alarming in that so few PSMs are aware of their current risks and knowledge gaps, and the majority are at risk of falling behind as they are unable to overcome significant financial barriers to their business. take their business to the next level and stay competitive in the market, ”she said.
MSP fusion in action
One of the early adopters of Fusion MSP is VTS IT, a Sydney-based MSP founded in 2008 to provide transformative and managed solutions to businesses. According to CFO Sharon Lindsay, the system is essential. “Fusion MSP has integrated and automated our main business processes; improved customer service and trust through full visibility and transparency; improved data and system security; and generated very significant cost savings, ”said Lindsay.
“Our new Fusion MSP system has reduced duplication of team management and time spent on tasks; enabled more efficient and profitable customer onboarding and relationship management; additional layers of enhanced data reporting and more, resulting in overhead reductions exceeding 23.5% in the first eight months of operation.
“Fusion MSP has dramatically streamlined our business processes; allowing us to increase our customer base without increasing labor resources. We further minimized business risk with the introduction of secure online digital signatures and approvals. “
Transformation is the big motivator for companies, but with limited internal capacities, they look to trusted partners like MSPs. For PSMs, the continued health of their business depends on their ability to better understand and manage both the risk and the scope of these projects.
This requires that MSPs have the right data and tools within their processes to support the projects they deliver – which is exactly why Socoro partners exclusively with MSPs to help them achieve their digital transformation goals.
For more information on what the Fusion MSP product brings to the business of an MSP, Click here.