EP087 – Unlocking Revenue Potential in MSP Contracts with Kim Simmonds

In this episode of 'It's a Numbers Game,' Daniel and Adam welcome back legal expert Kim Simmonds discussing MSP (Managed Service Provider) contracts, shifting the focus from risk mitigation to revenue generation. They discuss how contracts can prevent revenue leakage through strategies such as service credits, proper termination clauses, and exit transition clauses. Kim emphasises the importance of using your own well-crafted templates and the pitfalls of relying on client-provided contracts. They also touch upon practical credit management, handling insolvency scenarios, and learning about the Insolvency Act. The episode wraps up with a brief look at Kim's SaaS platform, Cloud Contract 365, which helps MSPs create, manage, and review contracts efficiently.    00:00 Introduction and Welcome  00:32 Contracts as Revenue Generating Tools  01:53 Key Contract Clauses for MSPs  03:09 Service Level Agreements (SLAs) and Penalties  07:33 Exit Transition Clauses and Termination  13:28 Handling Client Non-Payment  19:57 Revenue Protection Strategies  25:17 Cloud Contracts 365 Overview  29:12 Final Thoughts and Future Topics    When UK suppliers must continue to supply insolvent companies    Connect with Kim Simmonds on LinkedIn by clicking here – https://www.linkedin.com/in/kimsimmonds/  Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/    Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris  Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/      We look forward to catching up with you on the next one. Stay tuned!