As managed service providers (MSPs) look to usher in the new financial year, there are three key areas that are showing the most promise of new or expanded opportunities.
By focusing their attention on these areas, MSPs can ensure they have an offering that both serves the requirements of existing clients while also being attractive to new ones.
Opportunity 1: XDR
Increasing numbers of MSPs are coming to understand the value that Extended Detection and Response (XDR) platforms can deliver to their client bases. XDR removes the complexity associated with having multiple security tools in place and ensures greater levels of protection across an organisation.
XDR platforms can also be remotely managed by an MSP, delivering an ongoing source of revenue following the initial deployment. Outsourcing management is also beneficial for client organisations as it frees up internal security teams to focus their attention in other areas.
This is particularly attractive for client organisations that want to shift away from purchasing point security tools and instead have access to a complete security solution. By handing responsibility to an MSP, they can be confident their security is always up-to-date and active and delivering the best possible level of protection.
Opportunity 2: Leveraging vendor relationships
To provide the best possible level of service for their clients, successful MSPs develop close working relationships with key vendors. During 2023 and beyond, these relationships will provide increasing opportunities for business growth.
Having a close relationship with a vendor will ensure the best possible level of support can be achieved for clients. Having key contacts within the vendor can allow an MSP to quickly obtain the information or advice they need to rapidly solve client problems.
Strong relationships can also provide MSPs with more detailed product roadmaps that will allow them to provide better advice on product acquisition and deployment. Clients will appreciate being told what is coming down the development pipeline and are more likely to retain their MSP over the longer term.
Another advantage for MSPs is that they are more likely to be able to provide feedback and suggestions for product enhancements when a vendor relationship is strong. This means that solutions to real-world challenges faced by clients can become part of future product releases, further strengthening the relationship and leading to increased future business.
By way of example, Johann Mentz, Technical Manager and Senior Systems Engineer with Systemnet, says, “WatchGuard ThreatSync empowers resellers with a game-changing cybersecurity solution that goes beyond traditional defenses. With real-time visibility, automated threat detection, and seamless integration across network, endpoint, and cloud environments, resellers can confidently safeguard their customers’ businesses. Indeed, resellers can offer proactive, comprehensive, and scalable security that keeps pace with the evolving threat landscape, ensuring peace of mind and empowering businesses to thrive in today’s digital world.”
Opportunity 3: Using vendor services to ‘fill the gaps’
At times, many MSPs find they lack the skills and knowledge internally to meet the complex needs of some clients. If not resolved, this could lead to the client shifting to a competitor or cutting back on their ongoing spending.
To overcome this and support business growth, savvy MSPs take advantage of the knowledge and skills that exist with the vendor itself. Technical staff can be called in to work on a particular project and overcome complex issues.
Making use of additional vendor resources can also be beneficial if and when a client experiences a cybersecurity incident. Vendor staff will be able to work alongside MSP staff to overcome the issue and get the client’s operations back up and running as quickly as possible.
Highlighting this capability when looking for new business can allow an MSP to stand out from the crowd and attract growing numbers of clients. Prospective clients will be reassured that they will receive the best possible level of service when they require it the most.
It’s clear that having strong relationships with key vendors can help an MSP to grow in a range of different ways. By being mindful of this, and taking the time to develop and maintain such relationships, an MSP can be sure it is best placed to enjoy strong future growth.
