In this episode of 'It's a Numbers Game,' Daniel and Adam welcome back legal expert Kim Simmonds discussing MSP (Managed Service Provider) contracts, shifting the focus from risk mitigation to revenue generation. They discuss how contracts can prevent revenue leakage through strategies such as service credits, proper termination clauses, and exit transition clauses. Kim emphasises the importance of using your own well-crafted templates and the pitfalls of relying on client-provided contracts. They also touch upon practical credit management, handling insolvency scenarios, and learning about the Insolvency Act. The episode wraps up with a brief look at Kim's SaaS platform, Cloud Contract 365, which helps MSPs create, manage, and review contracts efficiently. 

 

00:00 Introduction and Welcome 

00:32 Contracts as Revenue Generating Tools 

01:53 Key Contract Clauses for MSPs 

03:09 Service Level Agreements (SLAs) and Penalties 

07:33 Exit Transition Clauses and Termination 

13:28 Handling Client Non-Payment 

19:57 Revenue Protection Strategies 

25:17 Cloud Contracts 365 Overview 

29:12 Final Thoughts and Future Topics 

 

When UK suppliers must continue to supply insolvent companies 

 

Connect with Kim Simmonds on LinkedIn by clicking here – https://www.linkedin.com/in/kimsimmonds/ 

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/   

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris 

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/   

 

We look forward to catching up with you on the next one. Stay tuned!