�
99 . 5 % of MSPs say their customers drastically underestimate the actual spend needed to improve their technology infrastructure .
Because your customers are more engaged , they feel like they have more knowledge , and it ’ s more challenging because it affects the amount of money they want to spend . Even if they are willing to spend more , MSPs are still in the same spot of doing more with less .
Fred said , “ Before the pandemic , there was an arm ’ s-length relationship between clients and MSPs . They would do whatever you recommended . Today , they ’ re directly engaged in the technology decisions , but practically none of them have any training in IT and security .”
CHALLENGE 3 : An Upside-Down Labor Market
Everyone knows just how tight the labor market is right now . But in the IT industry , it ’ s far worse . The technology sector is growing about eight times GDP growth .
“ Today there ’ s actually a negative unemployment rate worldwide for IT and security professionals . It ’ s at a negative 2.1 %. That means there are more positions than people to fill them ,” Fred said .
This widespread labor shortage presents multiple challenges for MSPs . First , many MSPs are severely understaffed . This also means you ’ re expecting more from every employee . Second , hiring and retaining quality employees is difficult . Those who are truly talented are seeking upward mobility even faster . Third , as the market competition increases , the average cost for an IT professional has increased by about 18 % a year .
There are just not enough trained and qualified techs to go around , which affects your client load and your bottom line .
CHALLENGE 4 : A Perfect Storm Of Security Threats
Fred said , “ We ’ ve all read the news articles , and Kaseya has unfortunately experienced cybersecurity threats as well . These threats impact our systems and our data , so they impact our way of life . And we , as IT professionals , are the defenders of that way of life .” The recent statistics are staggering : ✓ Approximately 28,000 documented phishing attacks per day ✓ Ransomware today is a bigger profession than
Coca-Cola or Nike ✓ Ransomware attacks have increased 800 %
We have essentially backed ourselves into a perfect storm to create the most cybercrime-friendly climate ever . And there are three factors driving it .
Fred Voccola Inspiring A Packed House At The Connect IT Global Conference
First , there is a low consequence for actions . Robbing a bank for $ 10,000 results in far more jail time than a hacker who steals $ 1 million from that same bank . Very rarely will any kind of cybercrime under a million dollars be seriously looked at because there are just too many breaches today .
Second , there ’ s a law enforcement deficit and a very low probability of being caught . Less than 3 % of law enforcement resources are focused on cybercrime .
Third , anonymous currencies allow for easy and untraceable cyber commerce . One hundred percent of ransomware is conducted with anonymous cryptocurrency , which makes it impossible to follow the money .
How Do MSPs Respond To Today ’ s Unprecedented Challenges ?
As a result of today ’ s “ technology first ” environment , MSPs are saddled with increasing business needs , security risks , unrealistic budgets , and a very tight labor market . These four challenges are squeezing many MSPs .
You probably have 30 – 40 functions you constantly juggle . Each of those functions requires professionals using tools and techniques that are all independent . And every time two different functions have to be done , efficiency grinds to a halt . While labor is short , businesses want more and security threats are everywhere . Those inefficiencies can tear apart an MSP .
“ How do you deal with constantly being squeezed ? At Kaseya , we do it with ease . It ’ s when you must do everything , do it more affordably , do it more efficiently , and do it in the most secure manner possible . And all of that can be accomplished with our IT Complete platform — the world ’ s only IT and Security Management Platform purpose-built for the multifunctional needs of MSPs ,” Fred said .
To learn more about how IT Complete can help your MSP overcome today ’ s four challenges to better serve the SMB market , watch Fred Voccola ’ s keynote address from Connect IT Global : Join . ConnectIT . com / FredVoccola . n
VOLUME 3 ISSUE 2 • MSPSuccessMagazine . com | 25