Make money with warranties in just three days
Your MSP can earn more in less time with Lifecycle Manager
Davis owns and operates Keep IT Defended as the MSP’s sole proprietor in Waterloo, Ontario, and has been in the IT industry since 1988.Today he manages more than 20 clients by himself, utilizing tools to automate manual processes.
Before Lifecycle Manager, Davis wasn’t often selling warranties. He would buy extended warranties for his clients’ hardware, but that hardware would often go a year or two without any warranty before being replaced.He was surprised at how quickly he was able to improve warranty coverage for his clients and increase revenue for his MSP.
Davis wanted to use Lifecycle Manager primarily to monitor assets and improve the client review meetings, but utilizing ScalePad Warranty Services created new revenue faster than he expected. Given how tight money can be for clients, Davis wanted to offer them more time with their existing hardware without having to make brand new purchases.In fact, it took him just three days to complete his first warranty renewal. Let’s take a look at how he did it.
Davis owns and operates Keep IT Defended as the MSP’s sole proprietor in Waterloo, Ontario, and has been in the IT industry since 1988.
Today he manages more than 20 clients by himself, utilizing tools to automate manual processes.
Before Lifecycle Manager, Davis wasn’t often selling warranties. He would buy extended warranties for his clients’ hardware, but that hardware would often go a year or two without any warranty before being replaced.
He was surprised at how quickly he was able to improve warranty coverage for his clients and increase revenue for his MSP.
Davis wanted to use Lifecycle Manager primarily to monitor assets and improve the client review meetings, but utilizing ScalePad Warranty Services created new revenue faster than he expected. Given how tight money can be for clients, Davis wanted to offer them more time with their existing hardware without having to make brand new purchases.
In fact, it took him just three days to complete his first warranty renewal. Let’s take a look at how he did it.
01
Setup
Day 1
After activating his integrations to sync the hardware to the Lifecycle Manager dashboard, Davis fine-tuned the settings to display servers and workstations, but not printers and network switches.
Lifecycle Manager also showed that other monitoring software was displaying duplicates of existing assets. Thanks to Lifecycle Manager, he was able to clean up those duplicates and get back to warranties.
Lifecycle Manager also showed that other monitoring software was displaying duplicates of existing assets. Thanks to Lifecycle Manager, he was able to clean up those duplicates and get back to warranties.
It was very quick to set up and I think it was a day or two later when I thought I’ll start doing some quotes. Since the servers came back so quickly, that’s when I thought, ‘OK, let’s look at some key machines at some of these clients and see what that does.”
Davis identified the servers that needed warranty renewals during the first day and used ScalePad Warranty Services to quickly create quotes.
02
Quoting
Day 2
On the evening of the second day, he sent out quotes for renewing server warranties.
“The quotes were nothing, those were instant,” he said. “And then I just attach it to an email with the little spiel for the client and why they should upgrade the warranty and a lot of them replied back the same day.”
The manual quoting process was a very time consuming process, Davis said. MSPs have to look up each machine individually on the support site of the manufacturer, whereas with Lifecycle Manager, the whole process is packaged into one screen and the warranty information is collected automatically.
“The quotes were nothing, those were instant,” he said. “And then I just attach it to an email with the little spiel for the client and why they should upgrade the warranty and a lot of them replied back the same day.”
The manual quoting process was a very time consuming process, Davis said. MSPs have to look up each machine individually on the support site of the manufacturer, whereas with Lifecycle Manager, the whole process is packaged into one screen and the warranty information is collected automatically.
It’s all packaged nice for me in Lifecycle Manager, so I can easily just grab it and do a quote right off the bat. It’s just opened a new area for me that I just couldn’t do before, because I just don’t have the time for it.”
03
Sale
Day 3
By the next morning, Davis had approvals from his clients. Upgrading his warranty process had an immediate impact on his business in only a few days.
Lifecycle Manager’s ability for MSPs to set custom markups for quotes helped bring in more revenue for Davis as well. Previously, he was getting the manufacturer’s extended warranty and going with the suggested retail price. Davis said he made “next to nothing” with that method.
Lifecycle Manager’s ability for MSPs to set custom markups for quotes helped bring in more revenue for Davis as well. Previously, he was getting the manufacturer’s extended warranty and going with the suggested retail price. Davis said he made “next to nothing” with that method.
I would be lucky if I made an extra $25 to $50 off of one of those warranties whereas I’m at a 65% markup now. So it is a big deal.”
It also helps his clients maintain their existing tech without having to worry about uncovered hardware failure. Clients now have more time to budget for intentional hardware upgrades as their assets reach end of life.
“In the end it makes it cheaper to them, because normally they would be looking at replacing the machine at [the end of the initial warranty]. Pay a couple of hundred here instead of $1,200 for a new machine. It should be simple math.”
“In the end it makes it cheaper to them, because normally they would be looking at replacing the machine at [the end of the initial warranty]. Pay a couple of hundred here instead of $1,200 for a new machine. It should be simple math.”
After just three days, Davis was able to bring in a gross revenue of more than $1,000.
In addition to warranty sales, Davis has been utilizing Lifecycle Manager’s reports in client meetings, which has led to more workstation replacements over warranty renewals as well.
Just by improving one aspect of his business with Lifecycle Manager, Davis has been able to tap into a new revenue source while saving time over any other method. As a dad and business owner, having more flexible time he can use to spend with his daughter is extremely valuable.
“It was more valuable to me to have the flexibility of my schedule so that I can pick her up from school when I need to, or I’m the go-to person when there’s an emergency because everyone else is working, right? I can easily change my schedule around. That’s more valuable to me,” he said.
“It was more valuable to me to have the flexibility of my schedule so that I can pick her up from school when I need to, or I’m the go-to person when there’s an emergency because everyone else is working, right? I can easily change my schedule around. That’s more valuable to me,” he said.
As long as I can pay all my bills and put a bit of money in the bank. It’s the flexibility of my schedule that is most important to me. Absolutely.”
