How To Measure The Success Of Managed Services

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How To Measure The Success Of Managed Services

When you’ve decided to make a bit more of an effort with your health and start exercising regularly, it’s very easy to measure the results. You can measure your weight, time your personal best when running, measure the distance of how far you can bike-ride, and assess whether your mood and outlook has improved as well.

But when it comes to something more complicated, like hiring a managed service provider, how do you know that they’re giving you results?

This is what we’re going to address in this post. The team at Real Innovation Group are confident in delivering results to a range of different businesses, so here’s how you can assess and measure their success:

Using Key Performance Indicators (KPIs)

To measure the success of managed services, we use several different KPIs which give us a broad range of information. Let’s discuss 5 of the main KPIs which we use to measure the success of a managed IT service like Real Innovation Group:

  1. First contact resolution rate (FCRR)
    The FCRR measures how effectively your managed service provider resolves problems upon the first contact. Solving problems upon the first contact is the gold standard for MSPs and calculating the FCRR allows managed service providers to see whether they’re reaching the benchmark or not.
  2. First level resolution rate (FLRR)
    FLRR differs from FCRR. This KPI is all about measuring the capability of your managed service provider to resolve customer issues at the first level, with hopes of preventing an escalation to a higher one.
  3. Technician utilisation
    To measure how effective your MSP’s technicians are, we use the metric of technician utilisation. This says a lot about the overall cost of each troubleshooting resolution, allowing you to see how much money you’re spending on technicians compared to their output.
  4. Cost per ticket
    This metric focusses on the full-service operation of your MSP and the cost of each ticket, which is broken down monthly. This metric includes the cost of rent, systems, software and technicians’ salaries, allowing you to measure the overall efficiency of your MSP.
  5. Net operating income
    The net operating income can also be assessed to analyse the performance of your managed service provider. It helps to measure the company’s profitability, and the effect your MSP has on profitability.

While there are several other KPIs that can be used to measure the success of your managed service provider, now you know some of the basics. Real Innovation Group provides top-quality managed IT services across Australia. Our managed services ensure your business is reducing wasted time and money on training and staff upkeep, while giving you high quality, round-the-clock results. Prevent problems, get innovative solutions and save money all at the same time when you talk to the team at Real Innovation Group and inquire about our managed services today!

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