5 Reasons selling Password Management as a Service makes sense

Posted by Colin Knox on Jul 15, 2015 12:32:31 PM

Password_management_as_a_serviceSpeaking with partners day in and day out, I’ve heard all sorts of horror stories about how they used to store, share, and manage passwords for their client IT systems. By now, most MSPs and IT solution providers have realized and accepted that Excel spreadsheets, Word documents, or even storing passwords in their PSA are not adequate ways to protect this sensitive data. But many of them have stopped at implementing a solution for their own business and never considered the situation their clients are faced with.

It’s time to go beyond solving password pains for your own business. Here are a few reasons you should be selling Password Management as a Service to your clients.

1. Your Clients Need It

Your clients might not be asking for a password management solution (although some of them likely are), but that doesn’t mean they don’t need or want one for their business. Your clients face the same pains you’ve experienced with passwords every day. In fact, a proper solution can provide more value and have a greater impact on their business than it can on yours.

With the amount of cloud services and applications clients are adopting, the ability to simply login with one click to the various websites they need to access will save them time because they won’t have to struggle to remember passwords. At the very least, it will ensure they are running stronger, unique passwords on each service.

2. It Creates Better Brand Loyalty

While you have your logo in many places, chances are your clients and supported users don’t see it every day, and they don’t have a direct attachment to your company and brand as individuals. Imagine a world where every time your end-users go to log into any website or cloud service they see your logo and use a tool wrapped in your MSP brand to process the login and protect their passwords.

Think about how attached each user becomes to your company knowing that you’re not only making their work life easier, but that you’re safeguarding them from being hacked or having their identity stolen. Consider what this means when any of those users leave to another company and IT isn’t running absolutely perfect. Can you say referrals?

3. It Frees Up Your Service Desk

Consider how many calls and tickets come into your service desk on a daily basis saying, “I can’t remember my password!” or “Can you reset my password?” Over the past few years, statistics have shown that anywhere between 30 and 60 percent of all tickets are password-related.

With that volume of tickets consuming your technicians’ time performing mundane password resets and recoveries, why not provide a tool to your end-users that allows them to look up their passwords and, in some cases, reset passwords themselves?

4. It Gives You a Foot in the Door

How many times have you thought that if you could only use a simple service to get your foot in the door with a prospect, then you could earn their trust and have an opportunity to move in with your larger service offerings?  Every business faces challenges with passwords and virtual identities, and even further, very few of them have a viable and cost effective solution for it. 

Consider opening with an offer to provide identity management at a fairly low cost to get started with a new client. After all, there aren’t many other products that can gain trust as fast as a security solution that the users will interact with all day every day.

5. You Can Make Money

Why are we all in the game of business? To make money and increase our revenue, right?  Sales experts have said for years that it is far easier to sell a new product to an existing client than it is to sell anything to a business that has never bought something from you.

With an offering like Password Management as a Service, your clients will receive a tool that provides incredible value to their business, and you can get paid healthy margins month after month for simply introducing them to Passportal and putting your logo and brand colors on it.

To learn more about the benefits of selling Password Management as a Service, join me at 2 p.m. ET on Thursday, July 23 for a webinar co-sponsored by Intronis

Replay our webinar: Password Management for MSPs

colin-knox-resizedColin Knox is CEO of Passportal MSP Password Management. A seasoned MSP veteran and 2012 & 2014 honoree of the MSPmentor 250, Colin has held several roles from senior technical to operations management and ownership at four MSPs over the course of his career. In his most recent MSP, Colin founded XCEL Professional Services growing it from zero to $4M annual revenue and 20 employees in two cities over the course of 5 years.As the Founder and CEO of Passportal, Colin now drives product evolution and business development for the fast growth, channel exclusive IT security vendor.

Photo Credit: Stiftelsen via Flickr.com. Used under CC 2.0 License

Topics: Cyber Security

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