Washington-based managed service provider BrightWire has always understood the importance of running its business based on real data. It can point to two watershed moments when truly understanding data and leveraging it into decisions enabled the company to optimize revenue.
The first instance where data insights prevailed for BrightWire came during the firm’s expansion phase. BrightWire’s ambitious plan to add more staff, more space and a greater focus on business development all hinged on one thing: its ability to extract insights from data. Partners Todd Whitley and Gordon Carlisle not only wanted to measure everything that impacted their costs and revenues, but they also wanted to capitalize on what the data was trying to tell them.
BrightWire engaged MSPCFO to help it analyze its finances and business practices. The company used the reports generated by MSPCFO’s software to keep tabs on and make improvements to its cost management and revenue generation tactics that include:
The insight Brightwire gained from MSPCFO’s financial analysis platform averted a potential crisis. One of BrightWire’s largest clients decided against renewing its contract. Faced with a large hole in its projected revenue, the company used the acumen gained through using MSPCFO’s reports to formulate a comprehensive game plan. Among the data-driven decisions it made, BrightWire used MSPCFO to pinpoint more than 10 underperforming agreements. Armed with the data to back up its findings, the company successfully renegotiated fees with all these profit-draining clients. Without exception, BrightWire’s clients understood the value they were receiving far outpaced their current fees. All re-signed with BrightWire at fair rates – often at 20 to 30% increases!
BrightWire engaged MSPCFO to help it analyze its finances and business practices. The company used the reports generated by MSPCFO’s software to keep tabs on and make improvements to its cost management and revenue generation tactics that include:
Does your MSP want to take advantage of market opportunities? Does it need to insulate itself against potential economic shifts? Does it simply wish to maximize revenue and profit? Whatever your situation, MSPCFO can show you how to build a flexible, winning strategy based on evidence hidden in your PSA data. Book a demo with our business development director. Using your own data, she will reveal actionable intelligence on your existing clients, engineers, and overall performance.
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