Fractional CFO for MSPs and IT services firms

Covenant Advisors is a fractional CFO firm for owner-operated managed service providers and IT services firms with $5M to $50M in revenue. We’re based in Irvine, in Orange County, California, and work with MSPs nationwide.

Who this is for?

You own an MSP or IT services firm. Revenue grows every year, but margin doesn’t keep pace, and cash is tighter than the top line suggests. You have a bookkeeper or outsourced accounting firm, so the books close. What you don’t have is someone who turns those numbers into pricing, hiring, and cash decisions.

Problems we fix for MSPs

  • Agreements priced below cost. Contracts signed years ago no longer cover the labor and tools it takes to support each client. Without a cost model by account, you can’t see which ones.
  • Gross margin that slips as you grow. New clients, new tools, and vendor price increases add cost faster than pricing changes.
  • Cash that doesn’t match profit. Annual license prepayments, project work, and slow collections leave cash short in months that look profitable on paper.
  • No budget to make decisions against. Hiring a technician or adding a service line becomes a guess.
  • Lender and acquisition questions you can’t answer quickly. A bank or buyer asks for a forecast, and nobody has one.

What we do

Build a fully loaded cost model by client account, and reprice the accounts below target margin
Build a budget and rolling forecast tied to your accounting system
Forecast cash by month and plan for license renewals and seasonal swings
Set up monthly KPI reporting: gross margin, revenue per technician, and margin by account
Prepare lender packages and manage banking relationships
Support acquisitions, from target analysis through close

Results for MSP clients

$8.5M MSP: about $18K in net new monthly recurring revenue

‍We built a fully loaded cost model across about 120 client accounts. It showed 40 accounts priced below target margin. The firm repriced them, and 3 clients left by design. The result was about $18K in net new monthly recurring revenue, or $216K a year, and gross margin up about 2 points.

We also secured a $250,000 line of credit for an MSP client.

How engagements work

Pricing starts at:
$6,500 a month for firms with $5M to $12M in revenue
$9,000 for $12M to $25M
$14,000 for $25M to $50M+.

Engagements are month to month with 30 days’ notice.

About Jason Green

Jason Green, MBA, founded Covenant Advisors and serves as fractional CFO for every client. He has more than 25 years in finance and has run his practice since 2015. Before that, he was CFO at Patriots Federal Credit Union and held treasury and analyst roles at SchoolsFirst Federal Credit Union and WesCorp. He holds an MBA from the UC Irvine Paul Merage School of Business and serves on FFB Bank’s Southern California Advisory Board.

Frequently Asked Questions

Do you work with MSPs outside Orange County?
Yes. We’re based in Irvine and work with MSPs and IT services firms nationwide.

‍What size MSP do you work with?
Owner-operated MSPs and IT services firms with $5M to $50M in annual revenue.
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‍Do you replace our bookkeeper or accounting firm?
No. We work alongside your bookkeeper or outsourced accounting firm and use the numbers they produce.
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‍Are you a CPA?
No. We work with your CPA on tax and audit matters.
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‍How much does a fractional CFO for an MSP cost?
Pricing starts at $6,500 a month and depends on your revenue. Engagements are month to month with 30 days’ notice.
Talk Through Your Numbers
Book a free consultation call to discuss where your numbers are unclear and whether a fractional CFO is the right fit.
Book a Consultation Call

Covenant Advisors provides fractional CFO services to owner-operated professional services firms with $5M to $50M in revenue.

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