Should I Add a Managed Services Offering for My Services Business?

I recently sat down with Adam Mayo, NetSuite Industry Principal for Services, to discuss the risks and benefits of adding a new revenue stream – specifically a new managed service revenue stream – to your business.
Evan Heby: What are some of the growth trends for the professional services industry in 2019?
Adam Mayo: A growing trend amongst Professional Services organizations is diversifying their business by including multiple offerings to their client base. In particular, Managed Services has been a focus of these organizations to provide high quality value to their customers as well as a recurring revenue stream not available from a traditional services model. These organizations have a vision for future growth while realizing the challenges with opening a completely new delivery model. Many firms are asking not only if they are ready, but if they are equipped to grow the business in this way.