Veteran Tommy Wald to Head New MSP Accelerator
Long-time managed services provider (MSP) Tommy Wald, who cashed out his own successful IT services firm in 2013 after 20 years, is now president and CEO of a year-old consulting accelerator called “Xcellerate,” the company announced today.
Wald launched an analog tape data backup business in a back bedroom of his Austin, Texas-area home in 1993 that later became RIATA Technologies, a reseller-turned-one of the earliest managed services providers.
At one point, he ran the largest MSP in the state.
Wald sold the business to Ricoh’s Mindshift four years ago and has since advised dozens of MSP clients.
Xcellerate, the outgrowth of a New Zeland MSP, bills itself as a holistic consulting firm that addresses all parts of their MSP clients’ businesses to streamline operations and kick them into high gear.
“Xcellerate is a potential game changer for MSPs,” Wald said in a statement. “Our approach is based on standardization, optimization and automation.
“We have the knowledge and expertise, and provide proven best practices, processes, training and tools, spanning every area of an MSP’s operations and service delivery – from staffing, to marketing and sales, operations, financial and leadership – for an MSP to successfully build a profitable, sustainable business.”
Wald truly has been in the MSP business since its origins.
RIATA invested in early network-monitoring technology and a data center.
“We started doing recurring services,” he told MSPmentor last April. “I created a program where customers paid a small subscription rate to get access to my engineers on a regular basis.”
For the fee, clients would get discounted engineer time and four hours each month of proactive server services, including diagnostics, patching and checking tape backup,” Wald told us last year.
“That was the very first managed services offering,” he said.
RIATA was one of the earliest customers of ConnectWise software.
“Arnie (Bellini) personally came in and did a training and installation for us,” Wald said.
The opportunity to run an organization like Xcellerate seemed a perfect fit for his experience and skill set.
“Taking up the CEO role at Xcellerate is more than just a natural career progression for me,” Wald’s statement said. “It’s an opportunity to put into action a lifetime of experience in the MSP space.”
“I’ve always shared my best practices, knowledge and ideas to help my MSP peers in and around North America,” he continued. “This opportunity with Xcellerate will allow me to deliver on that in a greater way and on a larger scale.”
MSPs can join the new outfit as a member by paying a flat monthly fee, until they are invited to join as partners, after which they receive a broader package of support services and are charged a percentage of earnings based on growth.
“The whole idea of Xcellerate is exactly where my vision and passion for the MSP industry has been for many years,” Wald said. “There’s a great fit between Xcellerate and my on experience of how MSPs can achieve rapid growth in revenues and profits.”
The ideal Xcellerate firm will have fewer than ten employees and spend most of its time with a very few “foundation accounts.”
“They spend most of their time working on their customers’ businesses and they are good at it,” Wald said. “They are not so good at working on their own businesses.”
He added: “Xcellerate’s role is to give the MSP the means to break out and grow by giving them the best practices, the tools, the mentoring, and the coaching they need to succeed.”
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