Remote Monitoring and Management (RMM) tools help MSPs run their businesses smoothly in two ways. First, they keep track of all the client devices subscribing to the MSP's services. Then, they also execute management tasks like patching updates and other such administrative tasks for the MSP's clients. As a result of these two key operations, the workload of MSPs reduces greatly, allowing them to focus more on the quality of the services they offer.
Unfortunately, the general perception among MSPs is that the services of RMM end here; that they do not extend beyond keeping a tab on devices and executing administrative tasks. This is indeed true if you focus only on the capabilities of the RMM tool. But if MSPs are wise enough to look beyond that, they'll realize that these RMM companies can offer 'value well beyond the products they make'.
As a final piece of advice, don't forget that MSP(s) success are closely related to the success (and efficiency) of the RMM tools which they employ. Therefore choose wisely and use them effectively.