On the recent Q3 earnings call, N-able CEO John Pagliuca perfectly captured the mood in the MPS market. “Some in the industry refer to the MSP era we are in right now as the golden era for the MSPs,” he said.

Many small businesses start with an idea, a product or service, and a willing market. Many managed service providers have assembled their client list from friends, family, and business contacts allowing them to quickly build revenue flow with relatively little effort. But what happens when an MSP’s network of friends and associates dries up? Or they’re no longer able to build a new business based on referrals?

According to Gartner, enterprise usage of AIOps is set to surge from a mere 5% in 2018 to a whopping 30% in 2023. To survive in an increasingly competitive market, MSPs must not only respond well to customer expectations but anticipate them. Another Gartner report states that by 2025, over 80% of public cloud managed and professional services deals will require both hybrid and multi-cloud capabilities from the provider, up from below 50% in 2020.

We’ve discussed this topic many times during our NinjaOne MSP Live Chats, and the fact is it’s an important question to consider regardless of your plans for exiting your business. Even if you’re not planning to sell your MSP, knowing the factors that play into your MSP’s valuation and understanding the metrics that owners and investors use to evaluate and optimize MSP businesses is key.

Over the past few years, we’ve been seeing large-scale consolidation taking place in our marketplace, with private equity firms and margin-based companies, such as telcos and traditional IT consulting businesses, investing heavily in MSPs.

In part one of this blog post series, we discussed several key reasons why your clients need backup and why either of you might be considering a change. In this second part, I will discuss how you might go about expanding or replacing your existing backup offerings.

For MSP’s and IT pros, IT documentation is a priceless tool used to record, organize, and store the information they need to do their job efficiently. With IT documentation software, users can start to build a solid foundation of organizational knowledge that contains essential and accessible information for a modern, secure IT environment. Due to its versatility, IT managers are continually looking to use this software in their everyday work.

The onboarding experience sets the tone for your entire relationship with new clients. This is a critical juncture when you can make your clients feel like they made the right decision by hiring you -- or just as easily make them question their decision. Like most processes, onboarding should be planned beforehand to ensure it runs smoothly. A structured approach leading to seamless onboarding will set the right tone and help foster a long-lasting relationship while reducing client churn.

Professional services automation, aka PSA, is a business software that helps businesses who provide managed services to clients. One such example of businesses that can benefit from PSA software are MSPs. The core function of PSA software is to enable businesses in the services industry to efficiently run their business. It provides organizations with the tools required to manage all the stakeholders engaged in the delivery of a project.