The managed service provider (MSP) sector is forecasted to experience considerable long-term growth (CAGR of 13.4% from 2022 to 2030) as more organizations hire MSPs. While opportunity is growing, the field is also becoming increasingly competitive. Indeed, many MSPs are flat in their growth and must adapt their business models to serve customers in a variety of ways and employ other strategies to set themselves apart from their rivals to compete.
Where is the biggest opportunity for this differentiation? Cybersecurity and compliance – which are becoming vital to any MSP’s growth. With so much talk in the media and in our industry regarding cybersecurity, all IT services providers must begin to address this with their customers and look to provide services and expertise in this area. Offering cybersecurity services, compliance audits, and assessments is an effective way to make sure your MSP can stay competitive in the crowded MSP space and protect your clients more effectively.
Cybersecurity professionals and tools provide MSPs with the ability to monitor and perform tasks more effectively to protect their clients’ systems and ensure the availability of their IT infrastructure. However, for many MSPs, the technical sophistication required for these types of services may make an internal hire (or hires) unrealistic. In fact, many MSPs do not have the resources to effectively address this need, and many cannot afford to add the staff if they can even find them.
That’s why many MSPs partner with a strategic third-party cybersecurity firm to fill this challenging but essential service gap. As your MSP grows, cybersecurity service offerings from a third-party can be scaled efficiently to meet the needs of each new customer, without the need to employ additional staff.
Have you considered how you’re going to grow in 2023?
About AXIOTROP, LLC:
AXIOTROP’s mission is to make cybersecurity accessible, attainable, and sustainable for small and medium-sized businesses so they remain competitive and poised for growth. We simplify cybersecurity by working closely with businesses to right-size their program for their needs, resulting in client retention, business expansion, and reduced risk.