How Quarterly Business Reviews Can help Your Business
QBRs, or quarterly business reviews, are useful tools for assessing the health of your business. These operational reviews provide a clear and complete assessment of your company’s performance over the last 90 days or more. When you’re ready, you can use the information to improve various elements of your business. Unfortunately, many businesses aren’t getting the most out of their QBRs. Perhaps because the QBR in question isn’t particularly strong to begin with. If you don’t have a managed service provider and handle all your IT on your own, you’ll need to do your QBR, which isn’t always easy. However, if you have previously collaborated with an MSP to manage your company’s technological needs, they will also facilitate your QBRs. The question is whether your MSP gives you a complete, accurate, and honest report.
How a Managed Service Provider (MSP) Can Help with QBRs
You hired your managed service provider because you needed them to assist you with many of your IT-related activities. And to manage a lot of mundane system procedures so that your in-house personnel could focus on your company’s core procedures. Your MSP will talk about how their services have helped your company during the QBR. They will accomplish this by offering summaries of how each part of the business fared and assigning a score to it. They may also employ quantitative analysis to explain how well or poorly the company has performed. Your MSP will point out things that need to be fixed right away, as well as things that have done well.
What Should You Expect from Your Review?
The quarterly business review is your opportunity to place your company in the best possible position for long-term success and growth. It also gives you an idea of how well your current IT provider has helped you meet your business goals over the last three months. You should anticipate getting several reports detailing how your MSP has helped your firm during your quarterly business review. It’ll usually start with a quick review of the service level agreement. Which will explain why you chose your MSP in the first place. It then generates a set of reports that show if the MSP has met your expectations in meeting your business goals in the previous quarter. The following are some of the usual features you can expect in your QBR:
Review of Achieved Objectives
They’ll offer a list of which goals and KPIs were met and a brief discussion of how they did it based on the goals. As well as the KPIs you agreed to when you hired your MSP.
Performance Evaluation
All the parts of your business that are managed by the supplier will also be rated by them. This will give you an overall rating of how well they did.
Strategic Challenges
The QBR will notify you of any areas of your company that require special or immediate attention. Your quarterly business report will include a section titled “Problems” if any things are at risk.
Important Things to Do When You Get Your QBR
As soon as you get your QBR from your MSP, read it carefully. And use the feedback to improve your business and boost customer satisfaction. And eventually make more money. You should use the QBR to determine how much value your current MSP is adding to your company. Your MSP must be doing a good job if there is consistent and significant growth. Otherwise, you might want to think about switching providers. If you’d like to learn more about how to get the most out of your QBR to enhance your business, contact us today!
