Quarterly business reviews, or QBRs, hold significant value as a tool for assessing the well-being of your business. These assessments offer a clear picture of your company’s performance over the past 90 days or so, enabling you to identify areas that require improvement. Regrettably, some companies fail to obtain beneficial feedback from their QBRs, often due to the lack of robustness in the review process.
If you manage your IT internally without a managed service provider, conducting your QBR may prove to be a challenging task, as you’ll soon realize. On the other hand, if you’ve already partnered with an MSP to handle your company, they will take care of conducting the QBRs for you. However, it’s essential to question whether your MSP is delivering an accurate and unbiased review of your business.
How an MSP Provides QBRs for Your Business
When you hired your managed service provider, it was to help you with many of the IT-related processes in your business. As well as manage routine system procedures so that your in-house staff could concentrate on the core of your business. During the QBR, your MSP will present how their services have impacted your business.
The MSP will do this with summaries of how each aspect of the business has performed. They might also use quantitative analysis to illustrate how well or poorly the business has performed. The MSP will highlight the areas that need attention and the areas that are in good shape.
What to expect in your review
The quarterly business review presents an opportunity to strategically position your business for ongoing growth and prosperity. Simultaneously, it serves as an assessment of your current IT provider’s contribution to accomplishing your business objectives in the previous quarter.
The following are typical components you can anticipate to be included in your QBR:
- Review of Goals Achieved – Drawing from the objectives and Key Performance Indicators (KPIs) established during the MSP’s hiring, they will provide a comprehensive list of the goals that have been successfully attained along with a synopsis of the methods employed to accomplish them
- Assessment of Performance – Additionally, the provider will furnish a holistic evaluation of their performance by assigning scores to each specific aspect they oversee for your business. These aspects include hardware management, network security, cloud-based services, inventory, and other relevant areas.
- Presentation of Strategic Challenges – The QBR will bring attention to specific areas of your business that require special or immediate focus. Any items deemed at risk will be highlighted in the challenges section of your quarterly business report.
- Important Actions- Once you receive the QBR from your MSP, carefully review it to leverage the evaluation for streamlining your business operations, enhancing customer satisfaction, and ultimately boosting profits.
Simultaneously, utilize the QBR as a means to assess the value your current MSP brings to your business. Consistent and significant growth would indicate their effectiveness. Should you seek further insights on optimizing the QBR to enhance your business, feel free to contact us!
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