While digital transformation remains the priority for businesses, finding the right partner to deliver on the opportunity remains challenging. Research from Socoro shows that 91 per cent of MSPs have had discussions with clients about transformation strategy, however, 66 per cent of them lack the financial capabilities to build teams to deliver a full transformation service.
Furthermore, most of them lack a comprehensive understanding of what they can deliver to their clients through transformation. For example, only 28 per cent of MSPs even have a basic understanding of what data is available through Microsoft 365.
“This lack of awareness is of greater concern than simply representing a difficulty to execute”, Socoro Director, Rebecca Kennedy, said. Many MSPs that Socoro deals with are not even aware of their legal obligations around properly documenting the scope of advice they provide to their clients.
“Most MSPs simply can’t afford the considerable cost of a team of business analysts, data engineers, UI/UX designers, and developers needed to achieve the level of digitisation and volume of automation required to stay relevant and ahead of the technological curve,” Kennedy said.
Meanwhile, the majority of enterprises lack the internal capabilities to execute on digital transformation vision. Gartner research shows that “53 per cent of organisations remain untested in the face of the digital challenge and their digital transformation readiness is therefore uncertain.”
A key barrier is lack of available skills. “It’s no easy task for this cohort to identify and acquire the digital skills their organisation needs to pursue digital transformation as imagined post-COVID-19,” Gartner analyst Scott Engler noted.
It should be the MSP that is responsible for filling those gaps and assisting their customers on the transformation journey. To do so, MSPs also need assistance.
“Addressing MSP’s ability to execute on digital transformation strategy and the risk in doing so, was the driver behind Socoro developing the Fusion MSP system”, Kennedy said.
Fusion MSP is a modular system that operates off a secure cloud platform, capturing essential business data streams and facilitating a range of dynamic reporting capabilities. It provides administrative support, using automation to reduce labour-intensive tasks and risks created by administrative double-handling.
The system also improves transparency in IT environments and can reduce MSPs’ legal exposure – for example, by streamlining and securing interactions to reduce the risk of someone adding unauthorised users to clients’ environments.
Fusion MSP modules include device management and monitoring, user management, licenses management, ticket reports and ticketing using information imported from standard ticketing applications like Datto’s Autotask and ConnectWise, and a notification centre; with contracts and invoices in the coming months.
Kennedy said “the solution is able to address the biggest challenges facing MSPs in delivering transformation – namely, their ability to resource, monitor, and properly document transformation projects.”
“We found our research alarming in that so few MSPs are aware of their current risks and knowledge gaps, and that the majority risk falling behind as they are unable to overcome the significant financial barriers to take their business to the next level and remain competitive in the market,” she said.
Fusion MSP in action
An early adopter of Fusion MSP is VTS IT, a Sydney-based MSP founded in 2008 to deliver transformation and managed solutions to enterprises. According to CFO Sharon Lindsay, the system is indispensable. "Fusion MSP has integrated and automated our core business processes; improved customer service and trust through complete visibility and transparency; enhanced data and system security; and generated the all-important significant cost savings,” Lindsay said.
“Our new Fusion MSP system has reduced team double handling and time spent on tasks; enabled more efficient and cost-effective client onboarding and relationship management; added layers of enhanced data reporting and much more – resulting in overhead reductions exceeding 23.5 per cent in the first eight months of operation.”
“Fusion MSP has streamlined our business processes significantly; enabling us to increase our client base without increasing labour resources. We have further minimised business risk through the introduction of the secure online digital signatures and approvals.”
Transformation is the great motivator for enterprises, but with internal capabilities limited, they are turning to trusted partners like MSPs to deliver. For MSPs, the ongoing health of their business rests on their ability to better understand and manage both the risk and scope of these projects.
This requires MSPs to have the right data and toolsets within their processes to support the projects that they are delivering – 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 an MSP’s business, click here.