What to Look for When Selecting an MSP
The Managed Service Provider (MSP) market experienced rapid growth over the last few years with an estimate of growth of $229.1 billion by 2025. This is mainly due to the uncertainty the last few years have brought, businesses are struggling to manage their temporary workforce and have experienced hurdles in finding talent fast. MSPs have filled the cap for many businesses and have allowed them to be effective in talent demands, strategic projects and adding new expertise to programs.
An MSP is designed to empower businesses to enhance staffing vendor pools and create a more centralized recruitment process. By working with an MSP, they can help off-load responsibility of staffing duties such as requisition, time capture, consolidated invoicing, analytics, etc. from companies which in turn helps enable them to focus on core duties.
Finding the right MSP to work with isn’t always easy. Knowing what you should be looking for, can be a key factor in helping you land the right MSP for your business.
Here are 5 factors to consider when selecting an MSP:
- Does the MSP have a robust implementation and post-implementation support team/What is the team bandwidth? Are they a shared or dedicated resource? How many people are going to support your program? This is all very important when deciding on an MSP. You want to ensure you are getting the right people working with you and that you have enough support for your business needs.
- What is their VMS technology expertise and integration capabilities? You will want to make sure they are forward-thinking MSP that is constantly developing and investing in better technology that can provide effective analytics and actionable insights.
- What kind of Vendor Relationships do they have? Do they work with a diverse group of vendors? Are they able to provide you with a list of their network and can these vendors provide you with quality talent that you are looking for?
- What kind of Global/geographical capabilities do they have? This will be good to see if they are able to support you in different locations or even globally.
- What is the MSP’s Compliance understanding? Does this MSP have vast knowledge of employment regulations, compliance in different regions, countries etc.?
When you take the time do research through MSP providers, consider these questions to help you find the best MSP for your business needs.