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May 04, 2020

What MSPs Need to Know to Protect Revenue Streams During a Crisis

By Erik Linask, Group Editorial Director

Over the past several years, the MSP model has increased in popularity, as businesses started to understand the value proposition in outsourcing IT services and enabling internal teams to focus on other core responsibilities.  For many, this also meant an ability to downsize internal teams.  For MSPs, it provided a natural growth trajectory as more and more businesses began looking for partners to manage their networks, security, communications, storage, devices, and other IT resources.

But, it also meant a need to constantly enhance service capabilities and ensure technicians are well-versed in all the latest systems and technologies, while remaining flexible and fluid to handle customer demands.  It’s really what drove CEO Mynul Khan to build the Field Nation platform to support two growing needs:  a need for experience IT technicians to help MSPs deliver their services, and an expanding gig-based IT labor force.  There was a need to match talent with demand.

But today, much of that demand has waned with the shutdown of so many businesses due to the COVID-19 pandemic.  On the other hand, millions of businesses have suddenly transitioned to teleworking models, which has created an additional demand for IT support to ensure connectivity to and availability of corporate applications, communications, and other resources.

Despite the desire for this unprecedented situation to return to normal, conventional wisdom says “normal” may not come for a long time, and many businesses have already said they are considering permanently adopting teleworking, at least in some capacity.

What does it all mean for MSPs?  How can they serve the changing – and immediate needs of their customers, while also following appropriate health and safety guidelines?  It’s a particularly important question to anyone using contingent workers.  One of the biggest challenges MSPs face is branding – and ensuring the techs they use represent their brands the right way, which today also means following safety protocols. 

Beyond that, though, MSPs are having to adjust – just as every businesses is – to a new world and new ways of working.  This global crisis is changing how they communicate internally, how they engage with their technicians, how they manage and interact with customers, and it certainly is causing them to have to re-imagine some of their business processes and revenue streams.

Steve Salmon, vice president of enterprise and channel sales at Field Nation, will be talking about how this pandemic has impacted MSPs and how they are balancing customer needs with safety to continue to generate revenue.  Steve will be presenting during a Webinar this Thursday, May 7, called “MSP Insights: Position your business to weather COVID-19,” where his focus will be, as the title suggests, helping MSPs get through this unprecedented time and come out strong on the other side.

If you haven’t registered yet, this is a great time to do it.

Edited by Erik Linask
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