MSPs: Time for a Financial Management Dashboard?
Imagine if there was a single financial management dashboard that allowed MSPs to track their health — and also compare their health to the overall MSP and solutions provider community. Sound compelling? CoreConnex and Service Leadership Inc. are working on such a dashboard strategy. Here’s the scoop.
First, it’s important to understand the back story: CoreConnex is exiting the PSA (professional services automation) market in order to focus on its financial dashboard for solutions providers and MSPs. It’s a SaaS application called Corelytics — as demonstrated in this video:
Looking ahead, CoreConnex is partnering with Service Leadership Inc., which assists VARs and MSPs with profitability strategies, mergers and acquisitions and other business performance requirements. The CoreConnex-Service Leadership relationship will allow MSPs and VARs to measure their performance against industry benchmarks and baselines. Service Leadership is an expert in those areas, having published Service Leadership Index Reports.
Also of note: CoreConnex’s decision to exit the PSA market opens the door for CoreConnex to integrate its financial dashboard with various PSA and business management software.
CoreConnex isn’t the first company to try to give MSPs a dashboard that allows them to measure their progress against the broader industry. Ingram Micro’s Seismic group has been working on a dashboard that allows Seismic MSPs to measure their efforts vs. the overall Seismic community, which includes more than 1,000 MSPs.
Are there other financial dashboard options for MSPs? And do they allow you to measure your progress vs. broader industry averages and indexes? I’m all ears.