Only 30% of MSPs effectively use project management tools while a staggering 50% of executives say PM challenges are impacting profitability.
MOUNT PLEASANT, S.C., Nov. 14, 2024 /PRNewswire/ — Moovila, the leading AI-driven project automation platform for managed service providers (MSPs), today announced the release of a new report highlighting the critical challenges faced by MSPs in managing complex projects and optimizing resources. The report, titled State of the Industry 2024: MSP Project Management Trends & Impacts, provides insights based on survey data collected from MSP leaders and executives, offering an in-depth view of current project management practices, pain points, and opportunities for improvement.
According to the report, 62% of MSPs recognize project management as a critical component of their operations. However, despite the growing adoption of project management tools, many organizations still struggle with key areas, such as project execution, risk management, and resource utilization. Only 30% of MSPs currently use the project management module within their professional services automation (PSA) platform as the primary method for managing projects, which leads to operational inefficiencies, misalignment, and lack of project visibility.
These gaps have real consequences: 50% of senior executives and CEOs surveyed indicated that current project management practices impair profitability, while inaccurate project timelines – often due to shifting schedules and unplanned tasks – were cited as the top-ranked factor negatively impacting the ability to manage work effectively.
“MSPs face immense pressure to deliver accurate, on-time project outcomes for their customers, all while adapting to a rapidly evolving technology landscape,” said Mike Psenka, CEO of Moovila. “This research highlights the increasing need for more advanced project management solutions to ensure MSPs meet client expectations, enhance service delivery, and reduce costs.”
Key findings from the report:
- Operational inefficiencies: Over 65% of MSPs reported difficulties in managing project timelines and meeting client expectations, indicating a strong need for better project visibility and proactive risk management.
- Resource allocation challenges: Nearly 70% of MSPs struggle with resource management, leading to project delays and increased operational costs.
- Demand for automation: More than 80% of respondents expressed interest in adopting AI and automation technologies to improve project management and reduce manual tasks, signaling a growing trend towards digital transformation in the MSP space.
The report outlines actionable recommendations for MSPs to bridge these gaps, including adopting AI-powered project automation platforms, integrating real-time risk management tools, and prioritizing data-driven project management strategies.
Moovila found that MSPs who have prioritized advanced project management tools have experienced substantial improvements in several areas, including:
- Improved revenue and margins
- Enhanced resource utilization and risk management
- Operational efficiency and overall business growth
- Increased client trust and confidence
Click here to download the report. Learn more about Moovila at moovila.com.
About the study:
The study was conducted in collaboration with The Channel Company. More than 100 mid-sized managed service providers were surveyed about the value of project management (PM) solutions in June of 2024. Survey respondents included roles such as CEO/Business Owner, Senior Executives, Director of Professional Services, and Director of Project Management/PMO/Delivery.
About Moovila
Moovila is the leading AI-driven project automation platform and combines embedded risk monitoring, identification, and remediation with an AI project management coach to help teams collaborate, plan, and execute projects more efficiently and effectively. Moovila Perfect Project enables MSPs to leverage AI to understand project status, identify potential capacity risks and conflicts, gain accurate financial forecasting, and make data-driven decisions. Through native PSA integrations, MSPs can identify project delays, eliminate bottlenecks, and optimize resource allocation, preserving margins while improving customer satisfaction.
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SOURCE Moovila