Managed Services Providers (MSPs) have been helping SMEs and enterprise businesses scale, and the industry itself is expected to grow in the years to come.
From the rise of consultation services to the demands in cybersecurity, the need for MSPs is apparent in many industries.
In today’s article, we take a look at the B2B market trends affecting MSPs in 2020 (and beyond).
The market for managed service providers is continuing to grow, and at the same time, expert advice is also being valued as a commodity. A lot of companies are now looking for MSPs that can provide them with specialist advice on how they can take advantage of efficiencies and set up new systems within companies.
Consultation as a service is expected to rise in the next year. Many companies have been switching over to cloud-based solutions, and as a result, there is a need for people to help, educate, and advise.
MSPs that provide advice along with their services will be able to maintain a competitive advantage over the rest of their peers. When you combine this advice with quality services, you get a more holistic approach to dealing with your client’s problems.
The connected world has its benefits, but as our dependence on computer networks continues to rise, so do threats to everyone’s cybersecurity.
Did you know that there is an attempt at hacking every 39 seconds?
That’s a staggering statistic.
We are moving towards a market that prioritizes security before everything else, and MSPs have to start adapting. This means providing more robust security platforms that are integrated with their services and being able to respond quickly to threats.
Clients want to know that their data and networks are safe. The average cost of a data breach this year is $3.92 million. Compromised resources can destroy a company financially and tarnish its reputation, preventing it from doing business in the future.
This is why there has been a shift in focus towards MSPs that provide excellent security.
There could be talk about zero-trust security in the MSP industry, and this could lead to further developments.
Some MSPs specialize in security alone – Managed Security Services Providers (MSSPs) – but it is expected that even regular MSPs be able to protect the networks and the assets that it manages.
Security solutions that can respond to threats swiftly and plan different ways to combat issues are being prioritized, and this doesn’t just affect large businesses because attacks on SMEs can be conducted as well.
Moving data and operations to the cloud have now become a priority for most organizations due to its accessibility and flexibility. Companies that are determined to scale have been moving their critical data to the cloud.
This is not just limited to large-scale corporations, as SMEs are catching up to the trend. Creating solutions for SMEs should also provide a larger market share for MSPs to work with.
For MSPs to improve their lead generation, they will have to be able to provide proper cloud solutions that can be easily be integrated into a business’s processes. These processes should be scalable; this allows the client to continue to use the MSPs systems regardless of what happens to their business.
Cybersecurity is also the utmost priority when moving data to a cloud-based system; companies – big or small – want to know that their data is safe in transit and storage.
One of the crucial processes that most companies are taking advantage of is automation. Whether it’s in their production, paperwork, or even in their marketing. There are a lot of ways that basic tasks can be automated to save precious time and resources.
MSPs that can automate mundane tasks can offer a lot of opportunities for organizations to expand their business. There is a shift towards automating manual tasks to save organizations money in the long run and free up their specialist staff to work on higher-level processes.
The reduction in mundane activities or “busy” work also has great effects on morale because it is the elimination of work that is considered boring or unpleasant.
Providers should focus on the automation of mundane tasks to get an edge over the competition.
The role that managed service providers have n the industry is unprecedented, and they are still set to dominate the stage when it comes to the outsourcing of specialist IT services. This means that are plenty of opportunities for the MSP industry to grow, and with continued spending on areas such as cybersecurity, it remains to be a lucrative market.
MSPs should continue to invest in proper lead generation to propel their growth and scale along with their industry partners. However, they should also be sensitive to the growing trends in their industry.