Managed service providers (MSPs) have evolved to become an integral part of the operations of many companies. In fact, it is estimated that 90% of Fortune 1000 companies use MSPs, manifesting high confidence in the value of these partnerships.
But what makes for a successful MSP partnership? As in any deep business relationship, trust and rapport between the two parties are of utmost importance. Trust is in fact the very cornerstone of the relationship between a managed services provider and its clients. If a client cannot trust its MSP, then the relationship is challenged from the start.
When there is trust between a client and its MSP:
- The provider thinks and acts with its client’s business foremost in mind;
- The provider seeks maximization of the client outcomes first, then balances that with its own outcomes; and
- The client stands by the provider when issues arise, and gives a chance for recovery.
Such trust between a client and its MSP engenders long term collaboration, which comes with a deep understanding of the client’s business and goals. It brings about a sense of stability that enables learning and discovery. It gives rise to a healthy collaboration to achieve a common goal – operational and financial growth for both parties.
Whether the engagement is for IT, customer relationship, or back-office support, an MSP handles operations that are mission critical to the client, and which entail access to sensitive company information. This explains why data protection and cybersecurity top the list of what defines trust for 500 business leaders and 1,000 consumers in the US surveyed by PwC. Treating employees well, ethical business practices, and admitting mistakes are the three other elements on the top of the list. When choosing an MSP provider, a company must ensure the provider offers these elements or whatever other values it deems fundamental to cultivating trust. This careful consideration should effect a most beneficial MSP partnership.
About the author:
Joeri Timp is the Founder and Managing Director of Eastvantage. He is a lawyer and technology enthusiast with an HR background and has extensive experience in leading global managed services centers of multinational companies. Prior to establishing Eastvantage, Joeri was Philippine Country Head for Elevate Services, a global law company. Before that, he was the Executive Director of the global service center of law firm Baker McKenzie. In 2010 Joeri founded Eastvantage in order to put his wide career’s learnings into a single practice, with the notion of trust at its center. A hands-on leader, he steers the Eastvantage team to success through his vision.
The inspired Eastvantage team delivers inspired results through its managed services.