Updated: Mar 1
Quarterly business reviews, or QBRs, are among the most valuable tools you can use to check the health of your business. These reviews give a clear assessment of your company over the previous 90 days or so. You can use them to improve the weaker aspects of your business. Unfortunately, some companies do not get the proper feedback from their QBRs. Most likely because the quality of the QBR is not that strong.
If you do not have a managed service provider and are handling all your IT internally, then you must conduct your QBR as well, which may not be an easy task, as you will quickly see. If you have already partnered with an MSP to handle your company, they will provide QBRs. The question is whether your MSP is giving you an accurate and unbiased review or not.
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 is your chance to put your business in the best possible position for continued growth and success. At the same time, it also functions as an evaluation of what your current IT provider has been able to help you achieve your business goals for the past quarter.
Some of the standard inclusions that you can expect in your QBR are as follows:
Review of Goals Achieved
Based on the goals and KPIs agreed upon when you hired your MSP, they will present a list of which ones have been achieved and a summary of how they accomplished them.
Assessment of Performance
The provider will also give you an overall assessment of their performance by scoring all the individual aspects that they manage for your business. Such as hardware, network security, cloud-based services, inventory, and more.
Presentation of Strategic Challenges
The QBR will alert you to the areas of your business that need special or urgent attention. If any items are at risk, they will be included in the challenges section of your quarterly business report.
Important Actions to Take after Receiving Your QBR
Upon receiving your QBR from your MSP, go through it thoroughly and use the evaluation to make your business run smoother. Increase customer satisfaction, and ultimately drive more profits.
At the same time, use the QBR to gauge the value that your current MSP is contributing to your business. If there is constant and sizeable growth, your MSP must be doing a good job.
If you want to learn more about how to make the most of your QBR to improve your business. Join us at our upcoming webinar by registering here. At this event, you can learn straight from the experts as they discuss this topic in greater detail.