hundreds of millions of dollars ,” Jennifer said . “ Recently , Aerojet Rocketdyne was fined . They settled the $ 29 million case for $ 9 million for failing to certify properly on their cybersecurity requirements . There was no data breach . All they did was not give enough information about how they were non-compliant , and they were fined $ 9 million . That kind of liability can potentially be a bankruptcy type event for small- to medium-size businesses . It ’ s significant .”
Why Should You Sell Compliance-As-A-Service ?
It Positions You As A Trusted Advisor .
“ A huge feature of compliance is that you can align IT solutions you do for a living with a business objective and a goal for a customer ,” Jon said . “ When you walk through compliance with them , it ’ s about having a senior leader who is not in IT , because most of our clients hired us because they ’ re not an IT person , they don ’ t have an IT guy , or their IT guys are break-fix level IT . They ’ re trusting us to be that partner and advisor to come to them and say , ‘ Hey , this is a risk you ’ re assuming that you don ’ t even know about .’ At least walk them through their options .”
It Helps You Differentiate . “ Where else are we going to have different conversations that aren ’ t around tools , maintenance work , and patching machines that are literally going to take someone else ’ s business ? That ’ s compliance ,” Paul said .
It Gets Your Foot In The Door . Offer an external audit . “ We ’ ll offer an external review . You could do that as a free service and say , ‘ Give me your documents , and I ’ ll review them for you for free .’ You ’ ll know immediately looking at it if their MSP is doing it seriously and if that company does it right ,” Jon said .
It Adds A Stream Of Revenue . “ We all ask ourselves ‘ What are we going to sell next quarter ?’ Add compliance to it ,” Jon said . “ When you talk to clients say , ‘ We ’ re not all there today , but every quarter , we ’ re going to do another little compliance project , so at the end of a year or two , you ’ ll actually be compliant .’”
It Helps CFOs And C-Suite Understand Why They Are Writing Big Checks . Demonstrate how
expensive it can be for a company to stay non-compliant . Rusty Goodwin had a client who was already spending quite a bit of money with their MSP and didn ’ t think they needed to go through any steps for compliance . Rusty walked them through a couple of questions to help them calculate how much it would cost in the event of a breach . Even if there were no civil penalties and no HIPAA fines , notification alone at $ 150 per name would cost $ 3.7 million . Their cyber liability policy only covered $ 250,000 . “ I asked if that would be a bankrupting event ,” Rusty said . “ She said , ‘ Yes .’ That makes sense to them .”
In the end , all the panelists agreed that if you aren ’ t selling CaaS , you ’ re going to lose business and put yourself at risk . But if you are selling it , CaaS will help you win ALL the business . “ When you get that good partnership going , they ’ re going to fire all their other incidental IT companies ,” Jon said . “ It ’ s going to be too hard to navigate having a VoIP guy versus having you . Talk about displacing people ! I would go in and bottom out compliance stuff . I ’ d give people screaming deals on helping them get through a gap analysis for HIPAA , CMMC , or NIST . Because I know when we start remediating , I ’ m going to pull all their MSP work . ALL of it .”
To hear the entire conversation , go to MSPSuccessMagazine . com / compliancegoldmine . n
5 Expert Panelists Discuss How To Add Thousands In New MRR Selling Compliance-As-A-Service At The Q3 Producers Club Meeting
From Left : Will Nobles , Jon DePerro , Jennifer Morris , Paul Tracey , and Rusty Goodwin
VOLUME 3 ISSUE 6 • MSPSuccessMagazine . com | 27