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After the Dust Settles: Are You Ready For The Tough Financial Discussions

Over the past few weeks, the IT community as a whole has been stepping up and committing tremendous resources to ensure businesses and individuals can carry on their work and provide vital education and communications. Most are realizing that as a people and industry, we are all in this together. The best way to help clients, employees, and others make it through a global pandemic is through direct communications, prudent planning, and a strong commitment to excellence. Your customers need you now more than ever before. Due to circumstances out of their control, as well as yours, many of these businesses are being negatively impacted on a financial and a structural perspective. Most non-essential organizations are closed or operating far below their standard capacity. Employees may be working from home or in different onsite locations to meet state and local health department guidelines. Some businesses are furloughing or eliminating employees to stave off long-term cash flow issues, ...
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How Hardware Leasing For SMB’s Could Strengthen Recovery Plans

Upgrade your clients’ critical infrastructure with cost-effective options like hardware leasing for SMB’s We are in the midst of troubled times for most, if not all, of your clients. Amid the COVID-19 outbreak and the various levels of quarantines, most organizations are either closed or are seeing a significant drop in revenue and cash flow, and those issues may linger for weeks, months, or longer. Even clients that appear to be thriving during the pandemic, such as grocery stores and delivery companies, could be experiencing a variety of issues relating to staffing, worker and customer safety, and personal health. The hard reality is that bad things are happening, and we may not see a resolution to this situation for quite some time. On the positive side, the severe financial impact that many businesses are anticipating, including MSPs and their clients, could be somewhat softened by government (local, state, and federal) stimulus programs. Combined with a vendor and supplier incen...
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Five Tips To Tame Your MSP Business’ Accounts Receivables

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One of the joys of owning a business is the financial freedom it provides, or so the story goes. As most entrepreneurs know, without great customers, proven ways to manage accounts receivable, and procedures to collect in place (and enforced), economic independence is never assured. The reality is that there are never any guarantees in business. You can have the best-laid plans and a robust financial model and still run into problems that the most insightful entrepreneur would never anticipate. Running an MSP business presents many challenges, including fluctuating workloads and staffing issues, and managing multiple vendor relationships, all while struggling to achieve operational efficiency. One of the biggest challenges for IT services entrepreneurs is managing the financial side of the organization, which often takes a back seat to the latest tech emergency. When sales are booming, and support staff is onboarding new clients at breakneck speeds, many MSPs feel energized and...
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