Managed Power Services: The Next Wave Of Growth Opportunity Currently, only an estimated 27 per cent of MSPs based in the US have a managed power offering
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If a business isn't growing, its likely on its way to extinction. For IT solution providers, staying on a growth path requires continuous investment in new technology and service opportunities. Edge computing delivers a robust opportunity for IT solution providers with projected spending to reach $250.6 billion by 2024, according to IDC. With thousands of the edge sites, unmanned or unstaffed by IT, CIOs are looking for help with the monitoring and management of these sites. Who better to help them tackle site management than their trusted partner?
Managed Power Services Opportunity
One of biggest opportunities at the edge revolves around installing, maintaining, and monitoring uninterruptable power supplies; managed power services. Currently, only an estimated 27 per cent of MSPs based in the US have a managed power offering, according to SolarWinds research. For MSPs that have yet to invest in managed power services, now is a good time to explore the opportunity.
However, adding a new offering such as managed power services isn't like flipping a switch. It requires thoughtful planning, execution, and reliable vendor partnerships. According to leading MSPs, ramping up can take up to 3,500 non-revenue-generating staff hours to identify and implement the necessary tools and platforms, train the staff, and identify customer leads.
Putting that many hours into launching a new business can be a deterrent in a business where time is a scarce commodity. But working with a trusted vendor partner can significantly ease the burden of launching the service. A vendor with the resources and requisite expertise in edge management can help MSPs develop a successful remote power management practice quickly and cost-effectively.
Identifying the Right Vendor Partners
Vendors with mature partner programs provide support in multiple ways, from training and certification to recruitment strategies to business development initiatives and SLA (service level agreement) preparation. By working with a well-resourced, partner-friendly vendor, a provider stands to substantially reduce the risk associated with a new venture and boost the chances of success.
When delivering managed services, providers need vendors that understand and support recurring-revenue models through subscription-based services that minimize upfront costs. This makes it easier to launch a new offering and add more services down the line.
The benefits of partnering with the right vendor include:
- Technology: Access to reliable products, solutions and platforms are key to a successful launch, especially if the vendor partner is a recognized, respected brand.
- Sales support: Availability of account managers, sales tools, configurators and a digital knowledge base from a mature vendor helps with business development, especially in the early stages of launching a new practice.
- Partner ecosystem: Mutual support of each other by providing expertise and collaborating when needed.
MSPs today looking to launch a Managed Power Services practice, are more likely to succeed when partnering with an experienced vendor who deliver the insights, visibility and 24/7 service capabilities providers need to launch an edge practice. It is essential to offer access to a new essentials guide on how to offer managed power services along with training and incentive benefits. The bottom line is MSPs don't have to go at it alone to capture the growing Managed Power Services market. Working with the right vendor helps get the new business up and running affordably and quickly so providers can start generating new revenue streams sooner.