In business since 1998, Entech was an early adopter of the MSP methodology, and in 2015, they acquired another MSP that catapulted them from 18 to 32 employees. Entech is involved in multiple peer groups, national conferences and tries to stay ahead of the curve as far as new technologies and changes in best practices. As president of Entech, Jake Spanberger keeps his finger on the pulse of the industry for the benefit of his clients.
Jake and his team were using the reporting provided by their PSA, but found it to be somewhat sketchy and often unreliable. They discovered that, depending on how they entered data into the PSA, the data may not be accurate; causing them to rely on incorrect data, and make decisions based on bad data without even knowing it. Obviously, this caused serious problems. Jake knew his team needed a set of reliable financial metrics that accurately reported their financial data, and that reported the data based on the individual way they used their PSA. They Found MSPCFO - a tool that allows them to dig deeper into their metrics for a clear and reliable picture of their financial performance.
Since Entech began using MSPCFO, they’ve been able to see their financial data on both a global and a granular level. Jake and his team can analyze projects, agreements, performance and profitability based on accurate information; and because MSPCFO can adapt to the way MSPs enter data into their PSA, Jake and his team are now confident that their reporting is based on accurate intelligence. The leadership team at Entech meets regularly to analyze the profitability of individual clients and projects, and MSPCFO has allowed them to see when clients move in or out of profitability. After seeing trends in customer behavior, Entech can now use the reporting in MSPCFO as a predictor of client retention; using the granular data on client engagement to retain clients that may otherwise have dropped off.
MSPCFO gives Jake and his team the “good data” they need to make sound financial decisions that benefit the company and the client. When clients ask to renegotiate their contract, Jake now has the data to evaluate the investment and profitability of each client, and make contractual decisions on good information.
Having reliable data has allowed Entech to save 25% of revenue that would have been lost or given away, had he not being able to see resources invested at the granular level. In addition, Entech has used the data analysis of MSPCFO to be proactive in retaining clients that may have previously been underserved and would have dropped off the client list. The bottom line for Entech? A 25% savings in revenue from the good information that Jake and his team need to be confident in the value of MSPCFO.