680 Unlock Hidden Revenue Opportunities with MyITspend

Uncle Marv interviews Kevin Lancaster and Matt Solomon from Channel Program about their new product, MyITspend. The guests introduce the tool as a client management solution designed to help MSPs optimize their client relationships and boost revenue. 

Kevin explains that MyITspend grew out of the need to solve big problems in the MSP industry and make operations more efficient. The tool started with the Navistack concept, which helps MSPs visualize their technology stack and identify gaps. MyITspend expands on this by allowing MSPs to manage their own and their clients' technology spend, contracts, and subscriptions. 

Matt highlights the tool's ability to uncover shadow IT and provide greater visibility into clients' technology investments. This enables MSPs to have more mature conversations during quarterly business reviews and identify new revenue opportunities.  He also demonstrates the tool's interface, showing how it helps MSPs track their own expenses, manage contracts, and visualize their clients' technology stacks. They emphasize the tool's potential for lead generation, allowing MSPs to offer it to prospects as a way to gain insight into their IT spend. 

Kevin and Matt discuss pricing, with internal use starting at $99 per month and customer-facing licenses at $249 per month. They stress the tool's affordability and potential ROI through improved operational efficiency and new revenue opportunities. 

The conversation touches on the challenges of getting clients to share their technology spend information and how MSPs can position the tool as a valuable service. The guests also hint at future developments, including integrations with PSAs and features to help MSPs manage contracts and commissions from various sources. 

Key Takeaways: 

• MyITspend helps MSPs manage their own and clients' technology spend
• The tool provides visibility into contracts, subscriptions, and renewal dates
• It can be used for lead generation by offering it to prospects
• MyITspend enables more mature conversations during quarterly business reviews
• The tool helps MSPs differentiate themselves in a crowded marketplace
• It addresses operational inefficiencies in contract and subscription management
• Pricing is designed to be affordable for MSPs of all sizes
• Future developments include integrations with PSAs and expanded features

Website: https://info.channelprogram.com/myitspend

=== Show Information

• Website: https://www.itbusinesspodcast.com/
• Host: Marvin Bee
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