MSP TITANS CONT ...
Shea Kelly , CEO of CCR , an MSP generating over $ 52 million in revenue , said , “ We really leaned into the K . I . S . S . ( keep it simple , stupid ) strategy and partnered closely with Kaseya and their IT Complete model .” Doing so eliminated a lot of the complexity of piecing their service offering together from a variety of other vendors and helped simplify automation and lower costs , making their operations more efficient .
Mark Shaw , CEO of StoredTech , calls this “ trimming the fat .” “ Engineers love shiny new toys , and we buy it all . At one point in time , we had seven backup tools ! Seven ! So , I had to go to the team and tell them to knock it back to only two . Two of these will do everything all the others do , so we made a conscious effort to consolidate .” This not only helped him negotiate a better discount with the vendors but also allowed for more efficient billing , operational management , and servicing of the tools . “ We took one vendor ’ s bill [ where ] we were paying $ 4,000 a month with a lot of redundancy and got it down to $ 300 a month , a $ 3,700-a-month instant bump in profitability .”
AI-Driven Automation .
Another strategy mentioned by many of the Titans was the use of AI to handle many of the routine , low-level tasks their service departments handle , such as onboarding and offboarding users , password resets , printer support , and classifying tickets as they come in . One of the Titans interviewed , Daniel Garcia , CEO of Virtual IT , the secondfastest-growing MSP in Australia , with over $ 89 million in revenue , refined the use of AI in his service department so well that they ’ ve recently packed it for resale to the MSP channel under the name of Pia . ai .
According to Daniel Garcia , “ We ’ re seeing 30 % to 50 % of our service-desk work completed via AI . That makes a huge difference when a lot of that work is being automated .” To his point , MSPs that are not able to do this are going to have a hard time competing with AI-driven MSPs that can deliver the same services at a much cheaper cost while also increasing the speed of ticket resolution , which makes clients happier . Not only is it lowering costs and reducing the dependency on hiring great IT people but they are also able to clear tickets faster and allow their engineers to focus more on client relationships . A total win .
Another Titan , Ryan Denehy , CEO of Electric , a New York – based MSP serving clients all around the country with a valuation of $ 1 billion , has gone all in with AI and used it as the foundational strategy to compete in the marketplace for support .
Disciplined , Accurate Billing .
It ’ s estimated that MSPs lose as much as 10 % of their topline revenue to billing mistakes : software and users added to a
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