/Blog/

Recession Proof Your Business with Managed Maintenance, Inc. (MMI)

By David Boim Business in the channel has been robust the past 5+ years. This business growth has been fueled by new technologies, the emergence of cloud and hybrid cloud, and the explosion of social media and information. 2020 will mark my 40th year in the technology business and I have witnessed incredible change and growth – and weathered economic downtimes. These downtimes often are characterized by a reduction of available capital and credit; companies canceling and/or postponing purchases, fewer investments, roadblocks in the supply chain, and uncertainty. I have mused the behavior of executives who ‘batten down the hatches’ of business. Recessions can also be a time of opportunity for companies that embrace change and are agile/flexible. The keys to companies rising stronger from economic downtimes, i.e. – recessions are the ability to continue to market, control costs – work smarter. And, MMI provides the tools, the processes, and [...]

Tracking Challenges Today – Complex & Fragmented Data

With such huge revenue and customer satisfaction potential on the line, why are the majority of channel partners not tracking warranty and maintenance service contract data and re-engaging existing clients? Some simply do not recognize the opportunity. An individual maintenance renewal worth $3,000 may hardly seem worth pursuing compared to a new-customer hardware sale. If a partner is missing 10 such renewals a month, however, there is now a revenue stream of nearly $400,000 a year being ignored. Moreover, maintenance is not a one-time sale. It is $400,000 in recurring revenue stream that is being neglected. The channel must take a long view of the data to see the real opportunity. Unfortunately, achieving a consolidated view of contract data poses a significant challenge. Most partners recognize the potential in service contracts, but obtaining accurate, streamlined visibility into the maintenance data is simply too difficult. For any channel partner, there are [...]

Top 10 Reasons Your Organization Needs Managed Maintenance, Inc.

Why Does Your Organization Need Managed Maintenance, Inc.? Here are the top 10 reasons! 1.Improve Data Quality: With the aggregation of install dates, warranty exits and renewals - the ability to mine data and proactively identify ongoing contract opportunities, technology refreshes, refurbishes or decommission opportunities, instantly becomes easier to track 2.Improved Business Analytics: Ability to establish accurate reporting and analytics of the business performance both in terms of sales and the associated financial performance. 3.Accurate Forecasting & Pipeline Development: Enable enterprises to accurately forecast their annuity business and renewal opportunities up to 36 months in advance. 4.Accurately Budget, Staff Technical, & Support Teams: Identify possible cost reductions through the ability to forecast potential service-contract renewals and the necessary personnel to support those contracts 5.Increased Visibility & Channel Performance: The ability to push down to channel partners and track renewal and sales rates against the opportunity data received by channel partners. [...]

Everything Starts With The Blueprint: The Importance of a Blueprint When Architecting an Enterprise-Level IT Solution

By George Woods, Senior Director of Program Management Operations Architecting an enterprise-level IT solution is no small task. But the key to a successful implementation doesn’t start with the solution. It starts with the blueprint -- a critical first step that brings the business into conversation with the technology to chart a strategic path forward. Why You Need a Blueprint Like a blueprint for a building, a schematic for a piece of machinery or a map for a road trip, an IT blueprint provides necessary direction for organizations looking to overhaul or enhance their existing IT environments. Ideally, it helps define where you are today and identifies where you hope to arrive in the future. The blueprint is also the first place where IT and business processes meet. In many organizations, technology and business processes are separate conversations. But when it’s done properly, the blueprinting process brings them together to addresses [...]

How to Choose a Maintenance / Service Contract Provider

Imagine your laptop, desktop or printer, to mention a few, develops a problem. In our highly technological age, it is unimaginable to be deprived of our computer equipment for even a few minutes. Sure, the equipment came with a service warranty, but what if it has already expired at the time of the malfunction? This is where a post warranty agreement, an annual maintenance and service contract, becomes essential. This service has been devised to cover such situations. There are numerous vendors that offer this valuable service, including some well known names in the technical support industry, so how do you choose one that serves your interests and company’s needs? Select wisely. Ask others about their experience with their providers and watch out for testimonials by big clients, then choose a company that: Gives prompt and reliable service Covers all computer hardware equipment, printers as well Has a variety of [...]

MMI Harnesses the Power of Open Source for its Oneview Portal

Open source technology isn’t a new concept in the IT industry—but a surprising number of businesses have yet to adopt their own internal technology development strategy. Here at MMI, we develop most of our technology (including ONEview, our total asset management solution) based on an open source platform, and we’ve seen a tremendous cost savings and strategic advantage as a result. The difference between developing software on an open source platform and licensing from a vendor is thousands and thousands of dollars. Web-based platforms have definitely propelled acquiring software through vendors into a new phase; beyond the on-site technical resources you save, web-based software is quickly and easily updated by vendors, requiring little to no maintenance on your side of the equation. Unfortunately, there are detractors to consider if you’re buying a ready-made product. Ask yourself some of the following questions before you move forward with a vendor. Is the [...]

Managed Maintenance Inc. (MMI) Receives SBA Certification as a Women-Owned Business

October 1, 2019 Boca Raton, FL. Managed Maintenance, Inc., the leading Renewals and Support Contract SaaS provider, received certification as a Women-Owned Small Business by the SBA. To become certified, a company must go through an in-depth review by the SBA. The requirements focus on female ownership, high-level control, and management of daily operations. While MMI, a Stevie® Award Winner for Innovation, has been servicing the channel (including manufacturers, distribution, and channel partners) as a woman led operation for 12 years, it became 90+ percent women owned in 2019. The WOSB certification helps provide a level playing field for women business owners, the government limits competition for certain contracts to businesses that participate in the women's contracting program. This certification strengthens our relationships with our customers that value diversity and will lead to new opportunities,” commented CEO Tina Lux-Boim. “This certification will provide many advantages for MMI, which will ultimately benefit our customers. Technology businesses that [...]

3 Reasons to Automate Your Maintenance Renewals

In today’s market, businesses are looking to do more with less. And although IT hardware and software maintenance still retains much of its profitability, companies are still looking for better, smarter ways to build this crucial annuity pipeline. So how can you more efficiently tackle your renewals, without compromising customer satisfaction or potential revenue? Below are 3 reasons to automate maintenance renewals: 1) Increase revenue and increase customer satisfaction Because automation allows you to touch more of your customers, it is assumed that you will increase your bottom line. However you may be surprised at where those increases will come from. Not all maintenance renewal notifications lead to increased maintenance revenue. Many resellers see increase in net new hardware and software sales due to the notification of machines coming off warranty. Also, end user customers see increased value from resellers who have invested in automation, which leads to increased customer satisfaction. 2) Connecting [...]

5 Ways Complexity Might Be Affecting Your Service Revenues

Today’s technology manufacturers setting out to optimize management and tracking of their service delivery lifecycles are confronted with many challenges. For most, the complex nature of the service delivery ecosystem is the hardest to overcome.  Global supply chain networks, disparate data sources, fragmented systems, and high volume and varieties of contract data each create a barrier to an  otherwise profitable annuity source. In order to identify a workable solution, manufacturers must first identify where the difficulties lay in their current service delivery and renewal process. More often than not, the barriers to success are not what they initially thought them to be. Below are the Top 5 Challenges that impair the success of a manufacturers (and channel providers) service delivery and renewal program. Rudimentary Tools – Rudimentary tools, like Excel sheets or homegrown applications, fail to take into account the data necessary to properly track service and product lifecycles. Lacking integration [...]

Why Automated Quoting Solutions Are the Secret to Enviable Service Contract Renewal Rates

Manually managing the IT contract renewal lifecycle comes with an avalanche of consequences. Beyond wasting valuable time and manpower, outdated contract management processes prevent IT organizations from reaching their full revenue potential. Whether you’re an IT manufacturer, distributor or reseller, getting contract renewal information in front of customers is vital to sustaining a healthy annuity stream. But with limited resources at their disposal, renewal teams are forced to prioritize selling to the top 20 percent of customers (who typically provide 80 percent of a business’s annual revenue), neglecting the majority of clients rounding out the rest. For IT organizations serious about growing their bottom line, automated quoting solutions can help lock in additional service revenues that otherwise slip through the cracks. How Automation Reinvigorates the Contract Renewal Processes Successfully closing maintenance and service contracts hinges on your business’s ability to approach customers at the right time, with the right information. [...]

Why Most Companies Fail to Meet Their Service Revenue Potential

The message surrounding the importance of building recurring revenues around service contract management and maintenance has been repeated so often that many have become numb to the opportunity. The reality is most manufacturers, distributors, and resellers understand the importance, but don’t know how to maximize their service revenue potential. The obstacles are most often very formidable. Simple systems (and spreadsheets) do not handle the complexity of service contracts. Getting data right is half the battle and your organization is probably losing this battle. Service and product data are often housed in multiple, disparate systems.  Lacking key integrations features with internal CRMs or ERPs, companies are left without clear visibility of upcoming sales opportunities. The systems many providers use lack critical automation features, such as proactive notifications and alerts, and automated quoting, that would otherwise expedite service delivery lifecycles. Failure to provide downline customers access to critical contract and product data results in [...]

Load More Posts