Verity Three Scores $1.2 Million Managed Services Deal
Written by Nicholas Mukhar
In the northwest suburbs of Chicago you'll find Verity Three -- a decade-old technology support company that has recently signed its biggest deal to date.
In the northwest suburbs of Chicago you'll find Verity Three — a decade-old technology support company that has recently signed its biggest deal to date. Verity Three President Jonathan Smith hopes the deal will be a springboard into servicing some of the larger engineering and banking firms in the United States. Here's the background.
Just days ago, Verity Three inked a five-year, $1.2 million deal with the engineering company HR Green. Through reverse engineering, Verity Three has come up with a short term and long term plan to help HR Green improve its internal technology. The two biggest changes to be made? You guess it: a move to virtualization and a transition to cloud-based services.
"They [HR Green] want to be able to do work with any company, anywhere," said Smith. "But their technology only supported a localized client base." Eager to correct the situation, HR Green leveraged feedback from Citrix, Caterpillar and Verity Three. Based on those conversations, HR Green embraced Verity Three's proposal. HR Green will undergo a virtualization and cloud implementation process that will also include Verity Three training the HR Green staff on how to use the new system.
"There are some things in the process that are out of our hands like restrictions on getting vendors in place," said Verity Three VP of Technology Services Peter Smothers. "It's going to take approximately six to eight months. We're shooting for November or December of this year." In 2013, Smothers says Verity Three will bring on a backup and disaster recovery (BDR) application for HR Green.
The deal is a strategic win for Verity Three — a company that launched into the engineering and community banking verticals in 2005. In that same year, Verity Three established itself as an MSP leveraging Kaseya (for monitoring) and ConnectWise (for professional services automation). But the company still only serves clientele in the midwest United States. And even though Verity Three currently supports roughly 3,500 systems, this is the first time the company has a real opportunity to expand its service range, as HR Green has eleven offices throughout the country.
Next up, Verity Three is seeking to support some of the largest U.S. engineering firms and banks. HR Green is a solid start and a fixture on the ENR Top 500 Design Firms List.
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Tags: Cloud Service Providers Digital Service Providers MSPs VARs/SIs Business Models Cloud Strategy Virtualization
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Dave	April 7, 2011 @ 3:01 am
Nicholas, this looks like a $20k/month MS deal. Is this out of the ordinary for most MSP's?
Joe Panettieri	April 7, 2011 @ 12:33 pm
Thanks for the note. We'd need more data points from Verity Three to say for sure. For instance…
1. Per user or per device deal?
2. How many users/devices?
But I think it's safe to say that a 5-year agreement is longer than most managed services deals. It almost reminds me of more of a midmarket outsourcing deal… a mini-IBM Global Services type of approach, given the length of engagement.
-jp
Paul	April 8, 2011 @ 8:03 pm
2013 seems a bit long to wait for BDR. I can deploy tomorrow if HR Green are intetested 🙂
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