After serving the IT Channel for the last eight years, it continues to surprise me how much MSPs have struggled to adapt to the recurring revenue model in their businesses.
Paper checks and manual processes are still the norm in our industry. The status quo is comfortable, and change may require business owners to take a new approach. That helps explain why most of the MSPs I’ve worked with didn’t think they could get their clients on autopay. Well, that is, until they asked.
I truly believe that MSPs have the right to win recurring revenue on an automated basis, That goal is not as difficult to achieve as some may believe a simple change to their workflow is all it takes to have the desired effect.
Win recurring revenue
Getting clients on an autopay schedule using a payment portal only requires one small change in your process. All you have to do is make it a standard expectation listed in your business contracts.
That conversation should be happening up front in the sales conversation when your team explains what the client can expect from you, and what you expect from them.
The autopay discussion is also worth having with existing customers based on the high level of service your business provides. They need your MSP’s support to operate; you’re maintaining their business-critical services and deserve to be paid on time.
Putting clients on autopay may seem like a daunting task that’s not worth the hassle, but if you don’t put those crucial processes in place, clients are more likely to take advantage of you. You will, in effect, be giving them free products and services.