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MSP Benchmarking - How To Use Guide
MSP Benchmarking - How To Use Guide

Understand how to contribute to and access benchmarking insights

Hamish Rickerby avatar
Written by Hamish Rickerby
Updated over a week ago

Please note:

  • Benchmarking is available to all MSPs as a free service

  • You do not have to integrate your PSA data to gain access to benchmarking


Topics


Background

Data is incredibly important for MSPs to make informed decisions that improve their business. BeeCastle benchmarking is a free service for MSPs, which allows objective assessments of their performance against their peers, to help them reach their key metrics goals.

Data Privacy & Security

All data is anonymized and stored securely.

Instructions

To expand the instructions, please click on the " > "

Here you will see instructions which will help you understand how you can leverage the benchmarking data, in order for you to set and achieve your key metric goals.

Recurring Revenue Growth

Inputs

The following section provides definitions and examples of the inputs required and how best to understand the graph.

Input

Value

Example

Your recurring revenue growth

Enter a percentage

25%

Your goal

Enter a percentage

45%

Understanding the graph

Based on the table above and screenshot below, this shows that the company currently has 25% growth in recurring revenue, which puts it in the 3rd Quartile when compared to the other MSPs.

The company's goal, is to get recurring revenue growing by 45%, which would put it in the 4th Quartile (which is the in the top 25% of companies).

Number of paying customers

Inputs

Increasing the number of paying customers is vital to growth. This metric helps MSPs see where they stand against others and also work towards an improvement goal.

Input

Value

Example

Your paying customers

Enter a whole number

100

Your goal

Enter a whole number

180

Understanding the graph

For this metric, based on the table above and screenshot below, this shows that the company currently has 100 paying customers, which puts it in the 2nd Quartile.

The company's goal, is to win an additional 80 customers and get to 180 paying customers, which would put it in the 3rd Quartile.

Recurring Revenue Percentage

Inputs

For many MSPs, this is an important metric that measures the percentage of revenue which is from recurring managed service plans.

Input

Value

Example

Your recurring revenue

Enter a percentage

40%

Your goal

Enter a percentage

65%

Understanding the graph

For this example, there is work to done to bridge the gap from current position to the goal.

Currently, recurring revenue as a percentage of total revenue is 40%, which puts this company in the 1st Quartile (bottom 25%).

The company has aggressive goals and wants to get to a position where 65% of its revenue is from recurring revenue, which would be in the 3rd Quartile.

Yearly Revenue (USD - Past 3 Years)

Inputs

Growing revenue is fundamental to business growth. This metric lets you compare your current position against other MSPs and work towards your own goals.

Note: if your company currency is not in USD, please use convert it using a trusted online service such as xe.com.

Input

Value

Example

Your yearly revenue

dollar value

$1,900,000

Your goal

dollar value

$3,800,000

Understanding the graph

In this example, we can see this MSP wants to double the business from $1,900,000 to $3,800,000. In doing so, this would take it from the 2nd quartile into the 3rd quartile in terms of yearly revenue in comparison with other MSPs.

Top Five Customers Revenue (USD)

Inputs

If your strategy is to have a high concentration of your revenue from your top 5 customers, or if it is reduce the reliance on your top 5 accounts, you can see how you are progressing against either of these strategies using this metric.

Note: if your company currency is not in USD, please use convert it using a trusted online service such as xe.com.

Input

Value

Example

Your top five accounts revenue

dollar value

$240,000

Your goal

dollar value

$800,000

Understanding the graph

In this instance, the MSP has a goal to grow revenue from the top 5 accounts by 4x from $240,000 (which is in the 1st quartile) to $800,000 (2nd quartile) as can be seen in the graph below.

Average Customer Revenue (USD)

Inputs

Increasing your average customer revenue is an important lever in achieving overall long-term revenue growth. This metric helps you see where you are against your peers and your goal.

Note: if your company currency is not in USD, please use convert it using a trusted online service such as xe.com.

Input

Value

Example

Your average customer revenue

dollar value

$18,000

Your goal

dollar value

$30,000

Understanding the graph

Currently, compared to other MSPs, this example company is already in the 3rd quartile with average customer revenue of $18,000. It has the goal, to push into the 4th quartile (top 25%) by increasing its average customer revenue to $30,000.

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