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The impact of COVID-19 is such that the world is witnessing a multi-level change in technologies and trends that define the way business is done. The extreme pressures of fulfilling the professional needs of the users have necessitated an increased focus on operational efficiency and effectiveness. To fulfill such raised demands without any burn in the revenue, cost, and capital, business owners are increasingly turning towards cloud-managed services. This high competition, constant demand to innovate, and lack of internal technical expertise drives high demand for Managed Service Providers.
A Managed Service Provider (MSP) is responsible for the proper functionality of IT services and infrastructure of an organization so that it can focus on its core competencies. An organization under the managed model can expect increased professional efficiency, smoother business operations & processes from its MSP partner.
With a constantly evolving market bringing new trends & competitors each day, the MSPs must be aware of the trends during and after the pandemic – not just to be stable but to leverage the maximum out of the situation.
Here are the latest trends in the MSP market to look out for.
Cloud – The demand for applications with the multi-cloud environment has seen a huge growth to meet digital transformation needs and better customer engagement. MSPs can prepare to avail such a big opportunity by taking steps like creating a consumption-based pricing model.
Automation – A substantial amount of work can be reduced by automating tasks in the IT environment. MSPs should prepare automated solutions as a key feature to their prospects to gain an edge over competitors.
Outsourcing – The MSP market is to see a huge rise in outsourcing of services reducing their dependence on traditional SLA’s (Service Level Agreements).
Users always prefer a multi-package deal, especially in service industries. Ensure your MSP offers evolve with the technology landscape. Evolving does not necessarily mean expanding the offerings, but being flexible enough to support the client as they make changes in their technological ecosystem. For example, a client wants to modify its cloud services or wants to make disaster recovery their priority, your services should be agile enough to let the IT infrastructure allow these changes.
The end of 2019 and the beginning of 2020 saw a major rise in cybercrimes – namely computer hacking, email bombing, cyber stalking, phishing attack, spam etc. Thankfully there are tools and services like a Firewall, Intruder, CIS, and Email Tester that can control and avoid such cyber crimes.
The upcoming months will see a rise in cybersecurity breaches – specifically targeting. Expertise in cybersecurity is not just a business opportunity anymore; it’s an imperative feature to safeguard the IT environment of your clients. Solutions to cyberattacks should include both how to defend & how to recover against any attack.
The creation and use of IoT devices (Internet of Things) is expected to grow to 22 billion devices by the year 2025, which could create big opportunities for MSPs. Organizations may find it difficult to implement such devices in-house as it requires a deep skillset and understanding. MSPs can increase their value by being the bridge here by gaining substantial knowledge at both ends.
Telecom service providers are shifting beyond data services and voice selling by entering the managed service field. Their IT savviness and experience in the subscription model makes them a worthy competition for MSPs. Evolving and innovating is the need of the hour for the existing MSPs.
An MSP needs multiple other tools underneath to provide the given tasks efficiently. Any denial or inefficiency from such sub-tools can directly impact the services of the MSP which ultimately leads to dissatisfaction of the user.
To avoid such unexpected calamities the market can see an increase in the number of integrations, mergers, and acquisition of related tools. With the major control in their hands, the MSPs feel more secure and have the updated information on each service-related aspect. As an MSP, if you have still not created a complete package of service then you are giving the customer a reason to walk away.
The COVID-19 pandemic has made the organizations realize the need to go online, automate their services, and be prepared for any unexpected calamities in the future. As more organizations move towards e-development, there will be an increasing demand for service providers who will design, build, and maintain IT infrastructure. The competition will intensify as more players enter the market.
To have a sharp edge over the competitors, together with the quality of services what matters is proper marketing.
About the Author: Bharti Jain
Bharti was earlier involved in the finance field and later turned into a full-time content writer. Currently, she is working as a content writer at Clearout & ClearoutPhone, Saas products used for email and phone validation respectively. Her fields for content are technical and entertainment.
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