In this episode, host Adam welcomes Dani and Alex from PCW Solutions to discuss their business journey, emphasising how they've integrated artificial intelligence (AI) into their company's operations. Alex details the inception and growth of PCW Solutions over the past 21 years, starting from helping domestic customers to managing over 150 business clients today. The conversation dives into their innovative approach to improving workflow efficiency using AI. They explain how they utilised AI to manage and log customer support tickets, reducing the workload on their staff and improving service response times. They also highlight practical challenges and human factors involved in implementing AI solutions, including the need for clear communication and gradual customer adaptation to new technologies. The discussion covers the future potential of AI in Managed Service Providers (MSPs) for automating routine tasks and enhancing customer service. Alex and Dani also share insights into the practical aspects of AI integration and future plans, such as automating outbound calls for ticket resolution00:00 Welcome and Introductions 

00:21 Background and Business Overview 

01:53 Office Location and Expansion 

03:27 Exploring AI Solutions 

04:08 Implementing AI for Customer Support 

08:45 Challenges and Adjustments with AI 

11:33 Technical Setup and Future Plans 

13:32 The Role of AI in Client Communication 

14:11 Client Reactions to AI Implementation 

14:35 Solving Client Issues with AI 

15:08 AI Accuracy and Staff Testing 

15:26 Examples of AI Handling Calls 

17:42 AI in Sales and Client Management 

19:17 Future AI Implementations 

20:53 AI's Role in MSP Operations 

21:38 Challenges and Costs of AI 

25:55 Expanding AI Solutions for Clients 

26:42 Automating Billing and Future Developments 

27:15 Conclusion and Final Thoughts 

Connect with Alex Hill on LinkedIn by clicking here –https://www.linkedin.com/in/alex-hill-64284414/ 

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 – https://www.linkedin.com/in/adamcmorris/ 

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

MSP Glossary: MSP Finance Glossary Explained | MSP Finance Team 

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

In this episode of 'It's A Numbers Game,' hosts Adam Morris and Daniel Welling are joined by guests Angie Hasenbank from Hasenbank Accounting Services (US) and Lauren McMaster from Rosy Small Business Services (Australia) for a globe-spanning discussion on mastering MSP finances. Key topics include the importance of standardised charts of accounts, proper labour allocation to see true gross margins, and the creation of disciplined workflows from quotes to invoices. Practical tips on working effectively with finance partners across time zones are also explored, aiming to help MSP owners build trust and avoid surprises. Learn the financial foundations every MSP needs to streamline operations and improve financial health. 

00:00 Introduction and Guest Welcome 

00:45 Global Collaboration in MSP Finance 

01:36 ConnectWise Community and Common Challenges 

04:53 Importance of Standardised Chart of Accounts 

05:50 Payroll Allocation and Time Sheets 

11:48 Product Discipline and Purchase Orders 

16:23 Preparing for Financial Control 

19:30 Final Thoughts and Encouragement 

25:09 Episode Recap and Conclusion 

Connect with Angie Hasenbank on LinkedIn by clicking here – https://www.linkedin.com/in/angie-hasenbank-b6112441/ 

Connect with Lauren McMaster on LinkedIn by clicking here – https://www.linkedin.com/in/lauren-mcmaster-99564938/  

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 – https://www.linkedin.com/in/adamcmorris/ 

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

MSP Glossary: MSP Finance Glossary Explained | MSP Finance Team 

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

In this episode, hosts Adam Morris and Daniel Welling welcome Alex, a seasoned advisor and former lender, to delve into the complexities of raising funds for growing a Managed Service Provider (MSP) business. They explore the intricacies of mergers and acquisitions (M&A), shedding light on different financing options such as factoring, invoice discounting, and revenue-based financing. Alex shares his extensive experience, providing practical advice on how to assess borrowing capacity, valuation mechanisms, and the importance of strategic planning when considering acquisitions. The discussion also touches on the concept of 'deal heat', the significance of personal guarantees, and the necessity of seeking expert advice to navigate the challenging landscape of business financing and M&A. 

00:00 Introduction and Guest Welcome 

00:44 Guest Background and Expertise 

02:04 Understanding Factoring and Invoice Financing 

03:39 Factoring in the MSP Context 

07:35 Mergers and Acquisitions Overview 

09:39 Assessing Borrowing Capacity 

15:40 Creating a Deal Box 

18:32 Funding Strategies and Considerations 

29:27 Conclusion and Shameless Plug 

Connect with Alex Fenton on LinkedIn by clicking here –https://www.linkedin.com/in/ajmfenton/ 

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 – https://www.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! 

The Evolving Role of Telemarketing in MSP Lead Generation 

In this podcast episode, hosts Adam Morris with Daniel Welling and guest Luke Doyle discuss the current relevance and strategies of telemarketing in the MSP (Managed Service Provider) industry. The guest shares insights into the evolution of telemarketing, balancing traditional and modern marketing techniques, and provides an overview of their company's approach to lead generation, including data quality, targeting, and effective prospecting. They emphasise the importance of well-crafted scripts, continuous client onboarding, and follow-up strategies to enhance results. The discussion also covers the necessary qualities for successful telemarketers, managing client expectations, and the importance of reliable data to reach decision-makers. The episode concludes with reflections on optimising calls and integrating telemarketing into broader marketing strategies. 

00:00 Introduction and Guest Welcome 

00:05 Debating the Relevance of Telemarketing 

00:44 Lead Generation Strategies 

01:38 Targeting and Quality Conversations 

02:10 Challenges and Misconceptions in Telemarketing 

02:42 Creating Ideal Customer Profiles 

03:37 Effective Prospecting Techniques 

04:26 Strategies for Competitive Markets 

06:18 Warming Up Cold Lists 

08:04 Webinars and Thought Leadership 

10:11 The Importance of Strategy 

10:49 Personal Experiences and Insights 

13:14 Setting Realistic Expectations 

15:24 Qualifying and Confirming Meetings 

22:06 Tips for Effective Telemarketing 

24:01 The Role of Data and Scripts 

32:37 Concluding Thoughts and Future Topics 

Connect with Luke Doyle on LinkedIn by clicking here –https://www.linkedin.com/in/luke-doyle-bravura-digital/ 

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 – https://www.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! 

In this episode, Isobelle joins the podcast to discuss her experiences and insights from working in the UK market, particularly focusing on mergers and acquisitions (M&A) of Managed Service Providers (MSPs). Isobelle talks about Evergreen's growth, including partnering with seven MSP businesses across the UK, and their approach to acquiring and supporting new businesses. Isobelle also touches on the importance of valuation, the quality of revenue streams, and the operational maturity of businesses. The conversation further explores the differentiation of Evergreen as a permanent partner, their decentralised model, and the extensive support they offer to their partner businesses. 

00:00 Introduction and Greetings 

00:40 Company Updates and Achievements 

04:53 Team Expansion and Operations 

06:33 UK Summit and Business Insights 

08:17 Financial Metrics and Valuations 

18:47 Revenue Quality and Business Growth 

26:11 Differentiation in the Competitive Landscape 

33:33 Conclusion and Contact Information 

Connect with Isobelle Coventry on LinkedIn by clicking here –https://www.linkedin.com/in/isobelle-coventry 

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 – https://www.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! 

In this episode, Simon shares his riveting journey from starting as an engineer at Ford Motor Company to founding and growing his own business, Sunrise, over the past 22 years. He discusses his decision to leave Ford, the crucial moments and opportunities that shaped his entrepreneurial path, and the challenges and triumphs along the way. Simon delves into the importance of structured business models, the impact of joining the TruMethods program, and how it provided direction, structure, and understanding of key business metrics. He also speaks about client management, the necessity of proactive service, and the challenges of acquiring new clients. Lastly, Simon shares insights from his first acquisition and emphasises the value of peer groups and communities in achieving business success. This episode serves as an inspiring and informative guide for entrepreneurs navigating the complexities of business growth and transformation. 

00:00 Introduction and Welcome 

00:23 Simon's Background and Career at Ford 

00:56 Starting Sunrise and Early Challenges 

02:59 The TruMethods Model 

04:36 Implementing Changes and Overcoming Challenges 

07:46 Proactive Service and Reducing Noise 

10:41 Client Relationships and Strategic Pricing 

26:12 Acquisition and Future Plans 

30:11 Final Thoughts and Advice 

Connect with Simon Gurner on LinkedIn by clicking here –https://www.linkedin.com/in/simon-gurner-8706435/ 

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 – https://www.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! 

In this podcast episode, host Adam Morris speaks with Ian Blake, an expert on differentiation strategies for Managed Service Providers (MSPs). They discuss the challenges service industries like MSPs face in standing out from the competition. Ian explains how logical thinking, common in the MSP space, can hinder differentiation and shares a compelling story of a restaurant owner who succeeded by focusing on what his top competitor did poorly. Ian discusses the 'Holy Trinity' of marketing—segmentation, targeting, and positioning—and emphasises understanding customer pain points, competition, and company strengths. They explore the importance of truth and customer feedback in building a unique value proposition, with examples of how clients have successfully differentiated themselves. The episode concludes with insights on the significance of client perception and creating memorable brand positioning. 

00:00 Introduction and Podcast Welcome 

00:03 Challenges of Differentiation for MSPs 

01:02 Logical Thinking and Differentiation 

01:46 The Restaurant Story: Learning from Competitors' Weaknesses 

03:08 The Importance of Differentiation in MSPs 

05:05 Segmentation, Targeting, and Positioning in Marketing 

10:01 Understanding Your Market and Targeting 

14:34 The Role of Customer Insights in Differentiation 

20:10 Case Studies and Real-World Examples 

28:35 Conclusion and Final Thoughts 

Connect with Ian Blake on LinkedIn by clicking here –https://www.linkedin.com/in/ianblake1 

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 – https://www.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! 

In this episode, Tim joins the podcast to share insights into bookkeeping and financial management specifically tailored for Managed Service Providers (MSPs). The discussion covers common challenges faced in the MSP market, tips for effective bookkeeping, and the importance of accurate VAT returns. Tim emphasises the role of timely bank reconciliations and cash flow management. She also offers advice on setting up a detailed chart of accounts, making use of automated tools in accounting software, and understanding prepayments and journal entries. The episode aims to provide practical tips to business owners for better financial management and decision-making in their businesses. 

00:00 Introduction and Episode Overview 

00:59 Tim's Background and Experience with MSPs 

01:43 Common Bookkeeping Challenges and Quick Wins 

02:52 VAT Returns and Common Mistakes 

08:37 Importance of Timely Reconciliation and Reminders 

11:31 Managing Supplier Bills and Cash Flow 

15:32 Improving Management Accounts 

22:34 Automating Financial Processes 

25:17 The Role of Journals in Accounting 

29:19 Conclusion and Contact Information 

Connect with Tim Hoskins on LinkedIn by clicking here –https://www.linkedin.com/in/timea-hoskins-11b022a6/ 

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 – https://www.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! 

In this episode, Richard Coulthard from Ison Harrison Solicitors joins the hosts to provide a comprehensive look at Employer Ownership Trusts (EOTs). The discussion covers the growing popularity of EOTs in the Managed Service Provider (MSP) space, their tax advantages, the practical aspects and benefits of transitioning to employee ownership, and the long-term financial and operational implications. Richard explains how EOTs enable business owners to sell their shares to a trust for the benefit of employees, tax-free profit distributions, and reduced corporation tax. The episode also addresses the succession planning process, the impact on company culture, financial safeguards, and the responsibilities of the trust versus day-to-day management. The conversation emphasises that while the tax benefits are significant, the overarching motivation for considering EOTs should be the legacy and future success of the business. 

00:00 Introduction and Welcome 

00:13 Understanding Employee Ownership Trusts (EOTs) 

02:02 Tax Benefits and Financial Implications 

02:50 Profit Distribution and Employee Benefits 

08:13 Management and Operational Structure 

13:47 Valuation and Regulatory Compliance 

14:55 Personal Experiences and Case Studies 

23:55 Comparing EOTs with Other Exit Strategies 

30:30 Final Thoughts and Contact Information 

Connect with Richard Coulthard on LinkedIn by clicking here –https://www.linkedin.com/in/richard-coulthard-8b840677 

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 – https://www.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! 

In this episode, Monica joins the podcast to discuss common procurement challenges faced by Managed Service Providers (MSPs). Introduced by a mutual client, Monica has focused on the procurement module in ConnectWise, which directly impacts the effective production of management accounts. Monica highlights the top three procurement mistakes MSPs make: overcomplicating the process, not understanding responsibilities, and failing to complete the quote to cash process. She offers practical tips, such as simplifying procurement, using spreadsheets initially, and effectively managing vendor relationships. The conversation also explores when to invest in PSA tools, leveraging procurement systems for better vendor communication, and balancing inventory to streamline operations. Monica shares insights on managing client expectations and the benefits of treating procurement as a profit centre rather than a cost centre. The episode concludes with advice on vendor score carding and the importance of a structured procurement role, emphasising a disciplined yet flexible approach to procurement.

00:00 Introduction and Guest Welcome

00:28 Understanding Procurement in MSPs

00:55 Top Procurement Mistakes

01:06 Simplifying the Procurement Process

02:15 The Role of PSAs in Procurement

03:10 Spreadsheet vs PSA Debate

03:28 Responsibilities in Procurement

05:33 Integrating with Vendors

06:18 Building Supplier Relationships

07:23 Effective Procurement Practices

08:08 Managing Procurement Responsibilities

10:08 Procurement Best Practices

11:52 Training and Expectations

14:18 Handling Urgent Client Requests

17:28 Vendor Score carding

22:24 Stock Management for MSPs

24:39 Monetising Procurement Services

29:00 Conclusion and Contact Information

Connect with Monica Ozaruk on LinkedIn by clicking here –https://www.linkedin.com/in/monicaozaruk

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 –https://www.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!