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The biggest threat to MSPs in 2024 is not raising prices to keep pace with payroll and vendor price inflation . If they don ’ t , they will join the ranks of the 28 % of MSPs that are unprofitable .
— Paul Cissel , Expert in Residence , TMT
With the proliferation of companies entering the MSP space and the ongoing M & A activity by super MSPs , independent MSPs will have to focus on building something unique that differentiates them from their competitors .
— Ted Shafran , President & CEO , Connectability Inc .
see three main trends : the move from an IT provider to a cybersecurity provider , compliance acceleration , and consolidation . The attractive qualities of a recurring revenue model , high revenue per customer , and long customer retention of the typical MSP makes for an interesting investment opportunity for private equity groups . This has led to several PEs investing in an MSP , creating a platform , and acquiring other MSPs to bolt-on or tuck-in .
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Cyber insurance is becoming more prevalent , harder to qualify for , and if your MSP isn ’ t ready to provide high-end cybersecurity services , you will be left in the dust by your competition .
— Brian Satz , President , CW IT Support
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— Jeff Farr , Expert in Residence , TMT
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The biggest opportunity I see is gaps in the midmarket in terms of security services , whether it ’ s a co-managed environment with cybersecurity services or one where virtual / fractional CIO / CISO / CSO services are provided .
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— Tito Huynh , Vice President , Business Data Services
The biggest threat to MSPs is protecting their profit margins . Increased insurance , tool costs and tool creep are eating away margin . We as an industry must raise prices and stop undercharging for services .
— Stuart Bryan , President , I-M Technology
To increase sales and protect against client loss / churn , MSPs must adopt and implement compliance-as-a-service offerings to meet those needs .
— Paul Tracey , Owner , Innovative Technologies
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