The benefits of Business Intelligence (BI) allow Managed Service Providers (MSPs) to work smarter and not necessarily harder. Some BI benefits include insights that can help MSPs monitor logistics, sales and even productivity.
By using the power of BI, MSPs can gain an understanding of their strengths or weaknesses while also providing other important metrics.
Here are 5 Benefits of Business Intelligence for MSPs:
Insight into your business
There are several types of reports that can be created using BI. The benefit of this is that MSPs can generate reports on a number of items. Customer service, expenses, operational processes and staffing needs are just a few categories that MSPs should consider when developing a BI Strategy.
Present important information
Some reports can be time consuming to analyze and identify the items that is necessary to take action on quickly. BI allows you to quickly identify information quicker so that action can be taken sooner.
Allows for bench-marking
Bench-marking is an extremely valuable asset for MSPs. It can determine productivity, revenue and overall success. This also provides MSPs with a road map that can assist with improving or developing strategic plans.
With BI you can track, manage, implement performance goals that allow MSPs to have something to strive for and surpass. Using dashboards helps provide real-time data, team members can then use to save time and make better decisions faster.
BI can even assist MSPs with their purchasing, procurement and inventory processes. Users can generate reports to identify stockroom needs or potential purchasing trends. MSPs can also use these reports to identify potential wastes.
Understanding the benefits of BI allows MSPs to truly scale to the next level. By employing BI effectively and regularly, there is no telling what kind of issues can be identified or opportunities that may be presented. The best in class MSPs have made it a part of their cadence to review data and see what other data points can be used to find out more information and continue to scale by making educated decisions about their business.
If you need help identifying how your MSP can start using BI to scale without the risk, feel free to contact us! We’d be happy to go over some options and provide some suggestions that you should be able to employ right away!