Transparency is critical for MSPs in maintaining strong client relationships. It’s vital that clients are kept in the loop throughout a project: how their money is being spent, the results it yields, as well as potential issues. In building long-term business relationships, MSPs must establish a foundation of trust, accountability, and consistent ROI for clients.
The key to this is regular, accurate and relevant reporting. Presenting clear and objective data demonstrates to clients that they’re securing value from your managed service. When executed successfully, you can provide clients transparent insight of all incremental progress, allowing better management of productivity and deadlines.
This also means quicker response times to potential errors before the need for substantial damage control, saving both time and costs.
The Problem with Current Workflows
In delivering optimal client reporting, time is of the essence, and accuracy is vital. Too many MSPs attempt to save on operational costs by processing data through multiple disconnected systems (this could be a combination of different HR platforms and spreadsheets). These are often disjointed software, requiring manual transferral of data from each system to the next.
This causes two main issues:
- Human Error: Manual processing makes human error inevitable. Due to the siloed nature of such setups, errors often aren’t identified until much a later stage. This, of course, greatly obstructs data-driven decision-making for clients and compromises their end result.
- Obsolete Data: In the time taken to process, extract and reinput data for reporting, numerous new developments can occur. This often renders reporting outdated by the time it reaches clients, limiting the effectiveness of subsequent decisions.
How can VMS help?
A cloud-based, automation-enabled VMS enables consistently accurate and up-to-date reporting. This means you can better support your clients in data-driven decision-making.
Managing a staffing programme on the cloud opens up visibility across your workforce and labour supply chain. This not only saves time on managing data across multiple systems but also increases accuracy—preventing unnecessary timeline or monetary losses.
Features To Look For:
- Cloud-based System: A cloud-based system removes all access barriers, allowing you to view data instantly and on demand. This provides you with the necessary transparency to prevent reporting becoming outdated due to long-winded admin.
- Real-time Data: A cloud-based system means all developments are updated in real-time. This means you can instantly inform clients of potential issues or necessary changes. With real-time data, you can prevent the need for expensive and long-winded retrospective resolution, keeping timelines and budget on track.
- Easy Data Extraction: An optimal VMS will allow data extraction from any module. This lowers manual admin needs and keeps the data extraction process efficient and accurate.
- Instant Notifications: Automatic notifications are another tool which reduces manual admin and subsequent human error. This supports real-time data, allowing you to keep reports accurate and relevant up to the minute.
Reporting is vital in staying accountable and trustworthy to clients. It’s key to the longevity of business relationships, demonstrating an efficient, cost-effective, and compliant managed service.
In taking on VMS, you can stop compromising your clients’ time and money to erroneous and inefficient admin and increase the value of your managed service. With this, you can ensure client retention, increase appeal to prospects and boost your industry reputation.