How MSPs can increase efficiency | Professional security

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Mike Puglia, Chief Security Officer and GM of Security Products at the IT management software company KaseyaPictured, explains how MSPs can increase efficiency into 2022 and beyond.

The COVID-19 pandemic is having a significant impact on the activities of Managed Service Providers (MSPs) around the world. It opened up opportunities for them as SMBs needed to go far and rely on MSPs to stay in business. This trust has continued into the post-pandemic world and will continue, creating ongoing opportunities for MSPs.

For many, however, odds have dominated. As the pandemic tightened its grip, companies upgraded their IT infrastructure, adopting cloud-based and digital tools to stay competitive. Often this meant turning to external resources, particularly for IT support. Accordingly, many MSPs saw their business grow.

More than half (51 percent) of Kaseya respondents 2022 MSP Benchmark Survey, which surveyed more than 1,200 MSPs around the world, said COVID-19 has enabled them to expand their services within their client base, while 62pc said it has resulted in an increase in their total monthly recurring revenue (MRR). . Almost half of the MSPs surveyed reported over 10% monthly recurring revenue growth due to these favorable factors.

Safety comes first

As we stand on the cusp of the post-pandemic era, the cybersecurity landscape is a top priority for many MSPs. According to the survey, 50 percent said their organization is at higher risk from cybercrime compared to a year ago, an 11 percent increase from 2021 data. But this challenge is also an opportunity. Over 95 percent of Kaseya respondents said their customers reached out to them in 2021 for advice on cybersecurity plans and best practices.

These numbers are not surprising. Cybersecurity is an increasingly pressing concern for small and medium-sized businesses (SMBs), which make up the lion’s share of most MSP client lists. The remote and hybrid work environment has made it easier for cybercriminals of all stripes to exploit vulnerable organizations. SMBs are an attractive target because they lack a solid security framework and often don’t have the right resources and knowledge to build one. In addition, their technicians often experience burnout from working longer hours to monitor incidents in addition to completing normal IT tasks.

All evidence points to the fact that cybersecurity will continue to be a murky topic for the SMB community. Among MSPs surveyed, 73 percent said up to 20 percent of their customers had experienced at least one cyberattack in the last 12 months. This trend is consistent with the 2021 survey responses.

However, it is evident that cybercrime is hitting more and more businesses. The percentage of respondents who indicated that between 21 and 40 percent of their customers had experienced at least one cyber attack increased from 13 to 21 percent.

Put BCDR in the spotlight

Business Continuity and Disaster Recovery (BCDR) is another area of ​​focus. Due to the increasing complexity of IT environments and the cyber threat landscape, IT professionals are required to regularly test their disaster recovery skills. Kaseya’s 2022 survey found that 30 percent of MSPs simulate disaster recovery capabilities quarterly, 25 percent test annually, and 9 percent test monthly — with 15 percent admitting they never test at all.

Remote work has also provided MSPs with a wealth of opportunities to capitalize on. That’s because it’s seen as a significant pain point for MSPs’ customers, with 36 percent of respondents picking it as one of the top three IT issues for customers in 2022.

Find a solution

The issues outlined above are increasingly the focus of MSPs and their customers. As a result, MSPs are increasingly offering these services to their clients to drive revenue growth. This trend is expected to continue into 2022 and beyond. In delivering these services, efficiency will remain key. According to the Kaseya study, this remains a top priority for MSPs, with 96 percent of respondents agreeing that integrating core technologies improves operational efficiencies. Ultimately, the challenges and opportunities outlined above can best be addressed through IT solutions and services that provide application integration and operational efficiencies.

MSPs can attract more clients by offering strong cybersecurity and compliance services and impressive customer support. As MSPs acquire more clients, they must streamline their operations to increase operational efficiencies while reducing costs.

Integration between critical business tools such as remote monitoring and management, PSA solutions and IT documentation will help them do this. Overall, the health of the MSP market remains strong and the outlook looks promising. With careful planning and foresight, MSPs can overcome obstacles and carve out a niche for themselves into the end of 2022 and beyond.

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