Ever feel like your MSP business is under siege? You’re not alone.
Private equity (PE) buyouts are on the rise, with PE firms looking to sink their teeth into MSPs’ juicy recurring service revenues. When you consider the market opportunity—with the managed IT services market expected to reach $174 billion by 2028 in North America alone—it’s no surprise that this boon to MSPs also puts an acquisition target on their backs. MSPs need to optimize their business to max out their valuation if buyers come calling.
Competition is also fiercer. So fierce, in fact, The Evolving Landscape of the MSP Business Report 2023 shows that, compared to the previous year, 25% more MSPs surveyed say “increased competition” is a challenge they face. This was by far the largest percentage increase of any concern.
And let’s not forget the hackers, as if we could! Cyberattacks are accelerating at an alarming rate. According to Cybersecurity Ventures, a business falls victim to a ransomware attack at least every 14 seconds.
The key to surviving and sustaining business growth for MSPs amidst this intensifying threat landscape is visibility. Visibility across your security stack. Visibility into your clients’ security postures. But even more than that, visibility into best practices for business management – financial management, effective go-to-market strategies, pricing and procurement models, and much more.