We’re not the right fit for every MSP — and that’s intentional.
After working with hundreds of managed service providers (MSPs), we’ve learned exactly which types of companies get exceptional value from our platform… and which might be better served by another solution (or even none at all).
If you’re wondering whether MSPCFO is right for you, this guide will walk you through:
- The role we play for MSPs,
- The minimum data requirements for success, and
- The signs your company is truly ready for analytics.
The Role of MSPCFO
Let’s clear up one common misconception: our name sometimes makes people think we’re a fractional CFO or bookkeeping service. We’re not.
In a typical MSP, a CFO might take on four roles:
- Controller – Ensures accurate financial reporting, compliance, and reliable day-to-day accounting.
- Strategic Partner – Aligns financial planning with business goals to guide growth and profitability.
- Analytics Leader – Translates PSA and financial data into actionable insights to optimize clients, services, and operations.
- Risk Manager / Capital Allocator – Manages financial risk and allocates capital for maximum return.
MSPCFO focuses entirely on the third role: Analytics Leader.
If you’re looking for a partner to help you pull actionable insights from your PSA, you’re in the right place.
Minimum Data Requirements for MSPCFO
MSPCFO delivers the most value when certain data foundations are in place. Without these, you won’t get the full benefit of our analytics.
For MSPCFO to deliver useful insights, your PSA needs to capture a minimum set of core data. This ensures our reports have the foundation they need to be accurate and actionable. The more detail you capture in your PSA, the richer and more insightful your MSPCFO reports become. More complete data means clearer trends, deeper analysis, and better-informed business decisions.
1. PSA Compatibility
MSPCFO currently integrates with ConnectWise PSA and Autotask PSA. Your company will need to be using one of these platforms to connect with our system. Halo PSA integration is in development — check back soon if that’s your system.
2. You Invoice From Your PSA
Invoices must be generated in your PSA so we can accurately connect revenue data to agreements and costs.
Even if you export invoices to your accounting software (i.e. QuickBooks) to send to clients, we can still work with your data as long as the original invoice was created in your PSA.
3. You Track Members, Time Entries, and Agreements Correctly
To produce accurate agreement, client, and engineer performance reports, you need:
- Members record all their time in the PSA, including client work, internal meetings, and PTO.
- Daily hours capacity set in your PSA for every client-facing engineer.
- Time entries are accurately tagged to both the type of work performed and the client served. For time to be considered covered by the agreement, the time needs to be marked as both billable and covered by the agreement.
- Agreement Additions or Contract Services with hard costs assigned (excluding labor).
- Agreements are structured with additions or recurring services, with each line representing a specific product or service included.
- Third party, hard costs are recorded in your PSA.
- Labor costs entered in your PSA.
Ready to take action on your data?
Download the PSA Data Quality Checklist to work through the data aspects in your PSA that will help you get the most out of MSPCFO.
Is Your MSP Ready for MSPCFO?
You might think readiness depends on client count, revenue, or employee headcount — but in our experience, these aren’t reliable indicators. The real signals are more subtle.
Working On the Business vs. In the Business
If you’re still working directly with clients every day, you probably already have a clear understanding of workloads and client issues.
As your MSP grows, however, it becomes harder to keep that same visibility. When you can no longer be hands-on with every client, data becomes your best tool for making informed decisions. That’s when MSPCFO becomes invaluable.
Startup Growth or Optimization: Where’s Your Focus?
MSPCFO is designed to optimize your existing client base. By analyzing agreements, tickets, and time entries, we uncover where your profitability can improve.
If you have fewer than a dozen clients and your main goal is rapid growth, you may not see immediate ROI. But if you’re ready to fine-tune your operations and margins, MSPCFO delivers the insights you need.
Building a Data-Driven Process
Having access to data is one thing — using it consistently is another. The MSPs that get the most from MSPCFO have regular, disciplined routines for reviewing reports and acting on them.
If you already run your business using data, you’ll see greater value from analytics tools like MSPCFO. If not, building those habits will pay off regardless of which tools you use.
Key Takeaways from the Q&A
MSPCFO is a perfect fit for MSPs that:
- Use ConnectWise or Autotask PSA (with correct invoicing and data tracking)
- Have grown beyond the owner being hands-on with every client
- Have an existing client base to optimize.
- Have — or are ready to build — strong habits for reviewing and acting on data
If that sounds like your MSP, we’d love to show you what MSPCFO can do.
About MSPCFO
Winner of both the Partner Innovation and Partner Advocate awards at IT Nation Evolve 2022, MSPCFO is a business intelligence platform designed to solve the unique profitability and productivity challenges managed services providers face. Since the application’s introduction in 2014, MSPCFO has helped thousands of MSPs and TSPs in the United States, Canada, APAC, and Europe identify improvement targets that directly boost their bottom line. Founder and CEO Larry Cobrin’s consulting, investment banking, private equity and product management experience coalesced in his development of the MSPCFO software and business model.
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