Let’s face it, the world of managed services is ever-evolving. Gone are the days when fixing a computer hiccup or setting up an email server were our primary calls to action. Today, data is the lifeblood of any business, and with it comes the burgeoning need for compliance. And yes, I’m talking about making compliance as a service your MSP’s new reality.
The Imperative Of Compliance Services
The world of IT has shifted beneath our feet, and with it, the responsibilities of MSPs have grown exponentially. We’re no longer just the IT repair folks; we’ve evolved into guardians of our client’s digital fortresses. And in this age, compliance is not just another service—it’s a dire necessity.
Today, data sprawl is real, and it’s chaotic. It resides on servers, in the cloud, within emails, and across countless devices. Knowing the whereabouts and flows of this data isn’t just good practice; it’s the core of doing business safely and sustainably. Compliance ensures that our clients aren’t just protected against cyber threats but are also fortified against legal repercussions that can arise from data mishaps.
It’s like being a lighthouse in a storm for our clients—guiding them through the rocky waters of regulations and data laws. By offering compliance services, you become more than an MSP; you become strategic advisors, risk assessors, and, most importantly, trusted partners in navigating the ever-changing tides of technology laws and best practices.
Increased Revenue And Competitive Edge
Take Jon DePerro, Chief Compliance Officer at Vector Choice, for example. When he first brought compliance into Vector Choice’s service offerings, it wasn’t just about staying current; it was about staying ahead. By positioning compliance at the forefront, he didn’t just service his clients—he safeguarded them. This proactive approach translated into tangible benefits for his company’s bottom line.
Introducing compliance services sparked a whole new conversation with his prospects. It wasn’t merely about the nuts and bolts of IT support; it was about strategic business continuity. Vector Choice was no longer one among many; they positioned the company as the only one that could offer this comprehensive layer of protection.
This strategic move paid dividends. Suddenly, they weren’t competing on price or speed; they were in a league of their own. Jon’s proposals now spoke to the C-suite’s fears and their desires—ensuring that their businesses were not only efficient but compliant and secure. It was a game-changer. Jon witnessed their close rates climb, and their revenue followed suit. Selling compliance didn’t just give Vector Choice a competitive edge—it redefined the playing field.
Handling Competitors And Establishing Credibility
When you’re in the thick of the MSP market, it’s a given that competition will claim similar offerings to yours. Here’s where the true grit of your service comes to light: establishing undeniable credibility in the compliance sector. It’s not just about what you offer; it’s about proving that what you offer is the real deal.
How do you separate the wheat from the chaff? You do it through rigorous education, impeccable service delivery, and—most importantly—transparency. When a competitor claims to offer compliance services, they light a match. When you offer compliance services, you light a beacon. Ask the hard-hitting questions that others shy away from. Go beyond the superficial layers and showcase your deep understanding of compliance intricacies.
The Role Of Education In Selling Compliance
Education is the cornerstone of selling compliance services. It’s a simple truth: fear comes from the unknown, and knowledge dispels fear. As an MSP, your role transcends service provision; you become an educator, an enlightener, and a bringer of truths in a world mired in half-truths and complacency.
Think of it this way—each conversation with a prospect is a chance to open their eyes. When I sit down with clients and walk them through the ‘what-ifs’ of non-compliance, the cogs start turning. They begin to grasp the magnitude of risk they’ve been shouldering unknowingly. The cost of non-compliance isn’t just a potential fine; it’s the potential unraveling of everything they’ve worked to build.
Through blogs, webinars, and consultations, we impart knowledge that not only educates but empowers. And with empowerment comes informed decisions. Our prospects don’t just buy compliance; they invest in their peace of mind, knowing fully well the fortress around their business is fortified not just by technology but by the law itself.
The Financial Incentive
I want to paint a picture for you, one with very vivid numbers. Imagine a market burgeoning to the tune of $135 billion by 2030. That’s the projected size of the GRC (Governance, Risk, and Compliance) market. Now, pause and ask yourself, “What slice of that immense pie could belong to my MSP?”
I’ve seen the needle move significantly when MSPs begin offering compliance services. It’s more than just an add-on—it’s a profound enhancement to the value they can bring to the table. The figures don’t lie; they point to a trajectory of growth that’s too substantial to ignore. Compliance isn’t just a buzzword; it’s a revenue stream waiting to be tapped.
But what’s even more intriguing is the untapped potential within the small to medium-sized business sector. Consider this: even a small CPA firm understands the necessity of compliance and is willing to invest thousands annually to ensure it. If a solo practitioner in their golden years sees the value, think of the myriad of businesses out there, oblivious to the risks they face, waiting for a knowledgeable MSP to guide them.
We’re talking about a shift from traditional MSP services to a model where offering compliance isn’t just an upsell—it’s a necessity, a differentiator that sets you apart from those who are selling the same old managed services package. This is where your MSP can pivot from a necessary expense to an invaluable investment in your client’s eyes.
By embracing compliance services, you’re not just opening a new revenue stream; you’re positioning your MSP as the ultimate protector, a role that becomes increasingly critical as businesses face growing cyber threats and stricter regulatory landscapes. And yes, while it’s about the money, it’s also about the message it sends: your MSP is the future-proof choice for discerning clients.
Conclusion
Compliance services are not just the new shiny object in the MSP toolkit; they are the new necessity. Like seatbelts in cars, compliance has moved from a ‘nice-to-have’ to a ‘must-have’ — and from optional to mandatory.
It’s time for you to reflect on your MSP’s service offerings. Are you ready to step into the realm of compliance? Do you see the potential to not only grow your revenue but also to elevate your service to a level where competition becomes an afterthought? I invite you to join the conversation and embrace the compliance service model. Together, let’s not just chase the future; let’s define it.
