How to Build your MSP Tech Stack

Balancing an MSP is difficult to do from a pricing standpoint. MSPs must ensure they are providing the correct tools and are asking the right prices so that not only will the MSP survive but so will the client.

It seems simple enough, but any MSP that has been in business for a few years or more knows that clients’ needs are prone to change. They will demand more focus on cybersecurity and disaster recovery amongst other things.

Combined with more companies hiring remotely, and severe natural disasters, MSPs must think about their tech stack as well. Having a proper tech stack for an MSP demonstrates to clients that they are trustworthy and that they can safeguard valuable data.

Top Considerations For An MSP Tech Stack

Small businesses are outsourcing their IT needs to an MSP business and they base their judgment solely on price. With that in mind, MSPs should source solutions with low costs to make them competitive but also appealing and more attractive to customers. However, pricing is only one consideration.

Other considerations to make are asking key questions such as:

  • How can the MSP scale up?
  • How will the tech stack grow as the client base grows?
  • What kind of support options does the software provider offer?

Ultimately, pricing is king here, but it shouldn’t be the only consideration to make. Broader considerations include:

  • Features of software
  • Automation options
  • And integration options

Right-Sizing The MSP Tech Stack

To develop a solid MSP stack, it’s also important to consider what MSP services are in demand in the area right now. Do note that it’s not crucial to provide every service right now but finding the most efficient and cost-effective solutions that meet client needs is ideal. The best tech stack is the one that will bring the most clients and the highest profits.

With that in mind, MSPs should research what other MSPs are offering in the area. Check to see if there is something that they are not offering right now. It also helps to recognize current MSP strengths over other MSPs. Play on those strengths.

The areas to consider developing an MSP are:

  • Cloud storage
  • Backup and disaster recovery
  • Customer security training
  • Security: AV, firewall, email
  • Remote monitoring and management
  • Secure remote access
  • Help desk

Bundling MSP Services

Another tactic to improving appeal in MSPs is through bundling services. These streamline purchasing decisions as clients get a better idea of how their business is going to be protected. It also provides customers with more flexibility as MSPs can create three bundles to offer to clients:

  • A budget option that offers the lowest pricing point but offers limited services
  • A middle option that is priced a bit higher but offers a balanced amount of services
  • An higher-priced option that is priced the highest and offers all the services the MSP can offer

Some MSPs can also offer flexible bundling in niche situations. Perhaps a client is interested in the middle option but already has a backup and recovery strategy and doesn’t need that option and the budget option doesn’t fully cover their needs? In those cases, being flexible can be helpful.

Non-IT Tools To Add

Lastly, as the MSP is growing, it’s important to consider non-IT tools for the business too. MSPs can oversee business accounting and the books, manage client relationships, overlook leads, sales, and provide software to manage employees, payroll, and other general business management.

Depending on the MSP, some of these tools are very helpful to ensure that clients don’t need to be hiring more staff. If clients can outsource work to MSPs and the price is reasonable, it’ll be a win-win situation for both parties.

About MSP Corp

MSP Corp understands you’ve worked hard to build your business and you want to protect it. With a mission to be a world-class business partner for MSP owners across Canada, we actively seek to acquire and partner with owners looking to secure the value of the business they have built and provide a seamless exit process that ensures business continuity and employee and client stability.

Contact us today to learn more about selling your business and maximizing its value.