Overcoming Service Capability Weaknesses – the Key to Net New Annual Recurring Revenue

The as-a-Service industry is one of the fastest-growing IT industries in the world. According to Financial News Media, the SaaS market is expected to flourish at an annual pace of 18.82% growth over the next eight years, opening truly remarkable opportunities for business growth. However, only some SaaS companies are at the forefront of this massive boom. That's due, lately, to the battle for net new revenue and enhanced customer loyalty being less about offering valuable services alone and much more about digital readiness and technical support capability.

All signs point to the need for Managed Service Providers (MSPs) to invest in enhanced service delivery if they want to satisfy end customers and increase profits. However, with a massive skills shortage (67% of companies face a critical IT skills gap), it’s increasingly tough to get digital transformation initiatives off the ground and running efficiently.

So, how can our partners best increase their Annual Recurring Revenue (ARR) in the current cloud market? The answer is to embrace smart growth and rely on a strong network to connect unique needs to greater possibilities. Let’s learn more.

To Thrive, You Need to Begin by Identifying Your Growth Chapter

The first step to improving service capabilities is to understand your business's strengths and weaknesses in-depth and to determine your current stage of business growth.

Are you acquiring your first customers and aiming to build the technical infrastructure for strategically expanding initial sales? Or are you at the doorway of massive growth, thus making service delivery automation the key to scalability? Each growth stage requires a different approach with specific tools and capabilities that will help you graduate to the next level.

The initial step of identifying your growth chapter also requires a qualitative look at your business goals, including profoundly understanding your customer base. What are your customers' concerns, and how can their demands inform growth and optimized service delivery? Resellers must ensure that their revenue growth aligns with current market statistics and that new products and solutions meet customer demand.

Building a strategy aligned with customer demands and the relevant business growth stage will help create a more specific solution portfolio. You can either add more SaaS solutions from other vendors to your core offering or increase the growth by positioning across numerous marketplaces. Both approaches will attract more ARR opportunities per customer and help win new contracts.

A Resilient but Flexible Infrastructure for Revenue Growth

Once you have established your growth goals for the next six to twelve months, it's time to develop a cost-effective way to implement them. The biggest challenge most companies will face at this point is the complexity of developing an adequate digital service interface—both from technical and sales perspectives.

Let's say you want to capitalize on cybersecurity opportunities and offer Seamless Security, or you’re trying to determine your best possible path to maximize opportunity in Modern Cloud Platforms. To develop this solution for your customers, you must evaluate time-to-market, plan revenue accordingly, and build a profitable cybersecurity practice. This requires developing tools and training to reach more customers, scale beyond your current services, and provide comprehensive customer support. This will ensure you stand out in the IT solutions ecosystem.

At this point, all efforts need to be focused on simplification. You can scale more efficiently by reducing the effort customers and sales teams need to make and process orders or expand existing contract value.

That's why resellers need to make sure they have access to the resources and tools that enable their products to get to market faster and reach a greater number of consumers. One way to do this more efficiently and cost-effectively is to work with Technically IT which understands the importance of automation and prioritizes its partners' growth goals.

Technically IT is Here to Support You

The success of our partners is at the heart of our business model. We work with a world-class team of experts researching and developing the latest solutions for our partners. Why? Because it allows partnering companies to realize market opportunities faster and more sustainably. In addition, we are constantly investing in the areas that they will need us most today, and tomorrow.

Each solution, including service solutions, is customized. We start by identifying your growth chapters, developing a strategy based on your strengths, and providing you with tools and resources to minimize inefficiencies. To that end, we provide supplemental pre-sales engineering and technical consulting to help build the right technology infrastructure for service delivery, along with differentiated marketing and sales support.

Just as digital transformation has greatly accelerated in the past year, Technically IT is now focusing all efforts on helping partners keep pace and build sustainable growth. Partnerships are a critical step in driving success and strengthening competitive positions in the market. Knowing that practice development is also a time commitment to our partners, we aim to simplify where, when and how we work with our partners to ensure that resources are used optimally.

Technically IT is the most partner-focused team in the industry. We are committed to helping our partners achieve and evolve, in line with our values: More as a Service.

Ready to accelerate your business growth?

Contact us bteam@technicallyit.net

803-716-8383