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Want to know RMM performance benchmarks? February 8, 2011

Posted by Jim Locke in Finance, IT Business.
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We regard the folks at CoreConnex as a valued partner of SMBTN and its member. Now thay are offering a FREE RMM Financial Performance Benchmark Analysis to those that sign up for the Corelytics™ Financial Dashboard in February 2011. They currently support Kaseya, Level Platforms and N-Able and are working on other vendors, as well. This is a great opportunity to find out more about how your management of client devices is impacting the profitability of the MSP portion of your business and how that compares to companies similar to yours.

Go here for more details on this special offer… or go to Corelytics and enter in the Coupon Code RMM0211 in the big green coupon box before you sign up. From here you will get more details and a sign-up screen. This is a great way for you to make business intelligence part of your monthly management process.

You can also email tony@coreconnex.com if you’d like any additional information on the Corelytics™ Financial Dashboard.

2011 is going to bring more challenges than ever. Let’s get ahead of the curve now!

SMBTN Releases Autotask Template November 16, 2009

Posted by Jim Locke in Benefits, Finance, IT Business, Marketing, Tools.
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Just a little over a month after announcing that it would standardize on the Autotask platform, the SMB Technology Network has officially released its new template for the platform. This release is just a starting point for us. We are committed to making consistent improvements to this platform that integrate industry best practices and SMBTN partner offerings into a professional services automation platform that fits the needs of our membership. Currently, the SMBTN/Autotask Platform offers the following:

  • A customized Autotask Template for SMBTN Business Members
  • Integration with a variety of Managed Services platforms, including hosted Kaseya from Virtual Administrator, Level Platforms, N-able, Zenith Infotech and others.
  • Integration with SMBTN’s Virtual Assistant partner, TelAssistant.
  • Integration with SMBTN’s Outsourced helpdesk partner, Cloud Services Depot.
  • Integration with SMBTN VitalSigns Financial Dashboard by CoreConnex.
  • Integration with the latest release of the SMBTN Community Toolbar.

SMBTN also understands the importance of integrating its member’s websites and marketing functions into their back office operations. With this in mind, SMBTN has begun working with Pronto Marketing on Autotask forms integration which it hopes to have available for its members in the first quarter of 2010.

Finally, SMBTN will also host its own forum on the SMBTN Community for peer support, sharing best practices and gathering ideas about future improvements to its Autotask platform.

Pricing for the SMBTN/Autotask platform starts at just $99 per month for a single user (through the end of the year) and includes Autotask Pro with the SMBTN template, Outlook integration, Client Access Portal, Quickbooks integration, Corelytics Lite Financial Dashbaord and the SMBTN Community Toolbar. For more information, visit the SMBTN Community or contact SMBTN Member Services.

Intoducing SMBTN VitalSigns Financial Planning Solution March 5, 2009

Posted by Jim Locke in Benefits, Finance, IT Business, Tools.
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Corelytics Financial DashboardIn preparation for SMB Summit in May 2009, SMBTN is offering a program that its members can utilize to improve the current financial health and future sustainability of your company. This program will provide you with the structure and the tools to work on your business – not just in it. (Sounds familiar, huh?)

Sign up for the VitalSigns Program and receive

  • The Corelytics™ financial dashboard
  • Analysis of your company’s financial trends
  • Ongoing financial performance tracking against your goals and benchmarks
  • Business performance benchmarks for your company
  • SMBTN Member performance trends (from survey results)
  • Feedback on your chart of accounts structure
  • Periodic newsletters on program progress and key learnings
  • Quarterly analysis of progress toward goals and changes in business patterns
  • Summary of combined learnings for 2009 SMB Summit

Goal of Program
Provide a unique experience for SMBTN members who are committed to working on their business to implement a model for improved profitability and long-term sustainability.

What’s in it for me?
Use state-of-the-art tools to get a much clearer picture of current trends and financial patterns in your business, set appropriate financial performance goals and track performance against those goals and industry benchmarks.

How does it work?
A business advisor will guide you through the following steps to start the program

  1. Set up Corelytics™ financial dashboard
  2. Review trends and identify revenue and expense patterns
  3. Review company-specific benchmarking
  4. Set 7 key financial business goals

The program process will take place over a 12 month period for each participant from the date in initial setup of your dashboard.

Does it cost anything?
There is a one-time set up fee and a monthly subscription fee for Corelytics™. Business advisor support and feedback is free with your SMBTN Membership.

How do I sign up?
Sign up is easy and fast. Email or call your SMBTN business advisor representative Bob Taylor (direct: 425.533.0773) and let him know that you are interested in the program or the financial dashboard and he will get you the information you need to sign up.

SMBTN is offering the VitalSigns program to our Members in conjunction with our trusted partner CoreConnex.

What is the Value of Your Company? January 19, 2009

Posted by Frank Coker in Finance, IT Business.
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There is a big difference between bringing value to your customers and building value for the owners. Having a valuable company starts with bringing value to customers, but there are more steps required to translate this into value for the owners.

There are over 100,000 small technology services and solutions businesses and probably half of these have little or no value from an equity or market-value point of view. These low value companies are hard to sell and generally result in very little cash for the owner if they had an emergency situation and needed to exit.

A large part of value in a service business is derived from the revenue stream. If the revenue stream is fairly steady, usually because of monthly service agreements, there is more predictability and therefore more value.

Unpredictable revenue, usually from break-fix work and from short-term hourly projects, is less dependable and has much less value. Even when revenues are on a clear growth path, if they are “lumpy,” the buyer is going to place a lower value on the company. The other reason a lumpy revenue pattern has a lower value is that a company without long term service agreements is going to be spending much more on sales than a company with long-term monthly agreements. Here is an example of a company with a strong growth trend but with big revenue swings – and a very low market value.

 cci-24month-revenue-graph1

Predictable revenues from contracts increase the value of your IT service company.

The challenge is that most technology companies are owned by technology experts and enthusiasts. Most are simply not aware of what they could and should do to build equity value in their business. It’s not hard to do, but if you haven’t learned about the fine points of building business value, it is unlikely to happen by accident. Unfortunately, most accountants and attorneys don’t know how to do this, so this information can be pretty hard to find.

I am very excited about a new offering that will be provided by SMBTN that is aimed at helping tech company owners get a better handle on financial planning and building business value. You will be hearing more about this in the weeks ahead. In the meantime, here are a couple of blog articles you might want to check out:

More information coming soon….

Welcome Frank Coker of CoreConnex January 19, 2009

Posted by Jim Locke in Finance, IT Business.
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I would like to take this opportunity to welcome Frank Coker, the president of CoreConnex, as a contribitor to the SMBTN Blog. Frank is the first of several authors that we will be introducing on the blog. Our goal is to provide you with high impact content that you can use to grow or improve your business.

Frank’s company, CoreConnex, is an SMBTN partner that manufactures the Corelytics Financial Dashboard for IT service providers. In the current economy, having good financial information about your company is critical. Hence, Frank has agreed to contribute to our blog on the topic of IT Finance. I am sure that you will find his posts very informative and applicable to your business.

Look for more new authors to the SMBTN blog coming soon. If you have any suggestions on potential authors that you would like to see contribute to our blog, please give us a call or contact SMBTN Member Services.