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Mission-Critical Tech Tools that Can Support MSP Growth

By Ray Meiring, CEO and cofounder of QorusDocs, a cloud-based proposal management software company

More workplaces are relying on remote and hybrid work models in the wake of the COVID-19 pandemic. As these approaches are becoming more embedded into the fabric of our working world, the demand for support and services that make them feasible is increasing. This boost in demand means that providers who offer the services and support for remote and hybrid workforces, such as managed service providers (MSPs), can expect their business to grow.

Data shows that MSPs are anticipating growth in the next few years by an average of 17 percent. However, many MSPs aren't necessarily prepared to scale their businesses. Another report found that 50% of MSP contracts are worth less than $15,000 per year. Assuming this metric doesn't change, MSPs will need to submit more proposals and statements of work for new customers in order to grow as expected.

MSPs will likely need to place a larger focus on generating new business if they want to see their new wins rate match their referral win rate, they will also need to streamline their proposal automation process to submit more proposals while being conscious of placing too much demand on their internal resources. And, with 70% of B2B companies trying to respond to proposals more quickly and 40% trying to automate the proposal response process, automation presents a unique opportunity.

MSPs who want to reach their growth goals should consider harnessing the power of a proposal automation tool to help them generate more proposals and statements of work in a more efficient and effective manner. Today's mission-critical automation tools are driving efficiency and growth for companies and MSPs should certainly take advantage of what these can offer. Below I've outlined a few key benefits that proposal automation tools can offer for MSPs.

A More Streamlined Process

Proposal automation tools can not only simplify the process, they also eliminate some of the common challenges of the traditional new business process. Rather than relying on unorganized file folders full of duplicative content or random bits and pieces of approval verbiage, some software will give MSPs the ability to create an organized, searchable library so they can track down the content they need with just a few clicks. Service providers can also create shortcuts to their most used content, so they can put their best foot forward.

Making it easier for MSPs to pull together a proposal and statement of work prevents them from taking up too much of employees' time with nonbillable work. As MSPs anticipate responding to a higher volume of proposals in the future, being able to churn out responses at a higher rate-without sacrificing their service to existing clients-is key.

Design and Layout Made Easier

Having the right content at your fingertips is certainly one of the biggest benefits of proposal management software, but some tools can take it a step further by lightening the burden of creating a visually interesting and well-designed proposal. With MSPs competing for a slice of new business, being able to create polished statements of work is essential.

Even simple, clean elements can elevate the content and demonstrate a more buttoned-up look. In addition, thoughtful layout and design will also help MSPs communicate more effectively within their proposal and statement of work. Aided by strong visuals, MSPs can feel confident they're engaging with viewers in a more compelling way and thoroughly explaining concepts in a way that all readers can understand. These tools are an excellent resource for service providers that want to keep their new business budget contained without sacrificing good design.

Informed Processes Using Analytics

Manual proposal processes don't usually allow MSPs to get detailed metrics about what happens to their statements of work once they hit send. They aren't able to see which sections the recipients linger on or if the document is even opened at all.

With proposal management tools, MSPs get access to insights like these and more. MSPs can find out what information is most important to the reader, giving them a sense for what content they should place special emphasis on. Having the ability to know what happens once their statements of work go out gives them essential information to improve their work going forward.

Proposal management software has great potential for MSPs seeking to grow and scale their businesses in the coming years. With the right tool, MSPs will ensure their process is smooth and seamless as they respond to more RFPs.

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About the Author

Ray Meiring 

As CEO and co-founder of QorusDocs Software, Ray Meiring leads an award-winning team of passionate problem solvers to create the absolute best customer experience possible. Under Ray's leadership, QorusDocs has established partnerships with Highspot, Microsoft and many others and supported more than 140 customers in creating 16,000 proposals and counting.  

QorusDocs helps sales, marketing and bid teams craft visually compelling, accurate and secure proposals and RFP responses more efficiently.  

With more than 20 years of industry experience, Ray is a frequent speaker, author and webinar host on a wide variety of topics including leadership, market strategy, automation and the application of AI, and proposal automation for professional sales and bid teams. 

Follow him on LinkedIn. 

Published Thursday, April 22, 2021 7:39 AM by David Marshall
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