Specialized MSP software solutions can be a total game changer when it comes to improving your MSP’s productivity. Specialty software includes tools like quoting, project management, accounting, and documentation software.
But you have to choose wisely when adding software options like these to your internal operations. We asked some members of the MSP Success advisory council for tips on how they ensure these specialized tools are the best fit for their stack.
Crucial Checks when Selecting Specialty Software
Here are a few key steps you can take when considering specialized MSP software solutions, to ensure they mesh well with your stack and will be well worth the investment.
Check the data flow.
For maximum efficiency, data should flow effortlessly between the tools your MSP uses. “I have this crazy mind map that we use,” says Stuart Bryan, president and co-founder of I-M Technology. “It has every single piece of software that we have in place, with data flow lines between each one. Anytime we consider [adding a tool], it gets put up against that matrix to check how the data flows. If [the tool] doesn’t do that, it’s immediately eliminated.”
Ask the dumb questions.
Bryan urges MSPs to not make assumptions and instead ask questions, even if they might seem obvious or stupid—because sometimes, your initial assumption is wrong. “You don’t know if [the vendor] has thought of the use case scenarios for the industry they happen to be in currently. A lot of MSP-centric software gets developed by MSPs, but you don’t know how operationally mature [the vendor] was when they started their development process.”
Because of this, a tool might work perfectly for a small team, but not scale at all for a large MSP. Bryan gives the example of a vendor that lacked client templates, preventing standardization. Because he’d assumed client templates were a given, he wasted time and resources onboarding software that wasn’t a good fit for an MSP of his size.
Check their roadmap.
Knowing which direction a vendor is moving can help you verify that they’re a good fit for your MSP. Many software companies post their current roadmap on their website. Another strategy to get a feel for where they’re headed is to ask if they are seeking private equity or venture capital funding.
“[Vendors] can’t tell you who they’re looking for [funding from], but they can tell you they’re seeking it,” says Bryan. “We want to know if they’re in fundraising mode because oftentimes, it changes their product road map and priorities. If they’re in fundraising mode, they’re not focusing on product development; they’re focusing on client acquisition. That typically means they’ll slow down product development and focus on client acquisition or new features, instead of improving existing features.”
Additionally, talking to that vendor’s MSP partners can tell you whether the vendor is in a product release or product fix cycle. “As a consumer of software, I think it’s important to understand where they are. [It can help you] figure out if now is the right time to partner with them,” says Bryan.
Specialty MSP Software: Bundled or Best-in-Breed?
One question plagues any MSP looking to add a new tool to their stack: Is it better to go for the best tool on the market, or the option that bundles with your existing stack?
The answer is a function of price vs. value. “Sometimes bundling can cause the price to go down. But the bigger value of bundling isn’t the price discount, but the productivity value you get,” says Will Slappey, CEO of IT Voice. “When one vendor is able to [provide a range of] products that work together, it brings a greater productivity value. They can integrate [the products] deeper and better.”
However, the downside to the bundle method is that “each component may not ultimately be the best,” Slappey says. “I’m evaluating a balance between [the quality of the product] and the overall productivity impact. When it comes to security, I’m going to lean more towards best-in-breed. But for things that aren’t primarily security focused, I’m probably going to lean heavier towards the overall productivity impact.”
However, “bundled doesn’t necessarily mean integrated,” warns Ann Westerheim, founder and president of Ekaru. “I think productivity’s the key.”
While price is a factor of any product purchase, it’s far less important than value. “Price is a component of everything, but regardless of price, you have to prove the value to me—that it’s going to make us more efficient, more productive, or positively affect our bottom line,” says Thomas Lohr, Chief Growth Officer of Techworks Consulting.
Types of Specialized MSP Software Solutions
Here are a few kinds of specialized MSP software solutions that can greatly increase your MSP’s efficiency and streamline operations:
- Documentation software
- Billing and invoicing software
- Accounting software
- Quoting software
- Scheduling software
- Project management software
While adding tools like these into your internal operations adds new bills each month, the value add they provide by enhancing your team’s productivity may more than compensate. For more tools to consider adding to your stack, check out our ultimate software guide for MSPs.
