Tag Archives: #Technology

How Do MSP Mergers and Acquisitions Impact Your Business?

MSP Mergers
Manage Service, Security, Technology, , , , ,

We have seen a significant rise in the number of MSPs and solution providers selling out to larger corporations. They are also selling to hedge funds in recent years. This trend of MSP mergers has been going on around the world. With this trend, there is no sign that it is going to turn in a different direction anytime soon.

Why Are Big Corporations Buying out MSP Companies?

Large IT companies are actively gunning for mergers or acquisitions because the MSP business is currently highly lucrative. The market is currently at a value of $223 billion and said it will reach $330 billion by 2025. Corporations recognize the strong growth potential of the MSP industry, but they don’t necessarily want to start a new company themselves. Indeed, why build one from scratch when MSP Mergers can find many MSPs out there willing to sell?

Also, these corporations are banking on the illusion of choice and keeping their current customers. They take control of multiple MSP companies while retaining their original names. People mistakenly believe that they have a wide selection of MSPs to choose from when, in reality, the majority of them belong to the same conglomerate.

Take Accenture, for instance. In 2023 alone, they will have acquired 8 different IT provider companies. It appears to the public that these MSPs are industry rivals. In truth, they are all bringing in revenue for Accenture. Trailing at a close second is The 20 MSP, which has already acquired seven MSPs so far this year.

Why Are MSP Owners Choosing to Sell Their Companies?

From the MSP owner’s perspective, selling the company could indeed be the best course of action considering the situation at hand. The most common reasons that they cite for doing so are burnout, health, retirement, partner disputes, or shifting to a different line of business.

It does seem like a win-win situation for everyone until you take a look at how the situation impacts the client companies of the MSP that has just been bought. Yes, we are talking about businesses like yours. Where does it leave you if a sizable corporation suddenly acquires the MSP you had chosen to work with?

Effects of MSP Mergers on Client Businesses

IT companies have their valid reasons for selling out; oftentimes, it has to do with money. But regardless of what good it might have done for them, the acquisition typically leaves their clients in the lurch. Of course, the big corporation promises to take care of all the clients in the same way that they have always been taken care of. But the truth is that everything will change, and not necessarily for the better.

As a business owner, you rely heavily on your MSP to take care of your digital operations. You’ve probably been staying with them all this time because they provide excellent service. You are happy with the IT guy working for you, and their location is near you.

But what if you wake up one day and everything is different? It is pretty normal for service quality to drop after an acquisition. You might go from being a highly VIP client to just one of the hundreds or even thousands.

With the change of management, you will likely have a completely new IT team that did not work with you before. But what’s even worse is that these professionals are usually miles away from your physical location and can only serve you remotely. They can go to you but their travel expenses will go on your bill. That is something you do not want at all with MSP Mergers!

What to Do If Your MSP Is Getting Bought Out By MSP Mergers

There are two main choices you can make once you find out your MSP is up for acquisition. One is to stay with them and hope things settle down quickly. In all likelihood, the new owners will want to hear your feedback because, after all, they want to keep your business. Take this opportunity to air your concerns and give them time to make adjustments to better serve your needs.

Now, if things have changed to the point that you are no longer satisfied with the service, you can always switch to a new provider. Despite the continuing M&A trends in the IT industry, there are still plenty of local MSPs that have not sold out.

Check out a few and see what else is out there. Here at our company, we would be very happy to help you sort things out, discuss your needs, and maybe even provide you with the services that you are looking for. Check out the MSPs that big businesses have acquired just in 2023. It will surprise you if you find out where these large corporations’ locations are. It’s no wonder why small businesses are suffering from acquisitions. 2023 MSP Acquisitions

And if your agreement confuses you and want to know how you can get out of it, call us today, and let’s talk!

The Importance of a Reliable BDR Plan for Business

Reliable BDR
Cybersecurity, Data Backup, Security, , , , , ,

In every business, there is an element of risk involved. In addition to operational risks, there may be hidden threats that can arise suddenly. One of the best defenses a business can wield in these situations is a reliable bdr plan.

In the last few weeks, we have been covering BDR solutions. What BDR solutions are, what they can do for your business. Talked about how to gauge the quality of a particular BDR plan. Indeed, it’s worth all the discussion because we can never overemphasize the importance of a reliable BDR plan for your business, your employees, and your clients.

Benefits of Having a Reliable BDR Strategy

what Is BDR

Our series of blog posts on backup and disaster recovery began with an article called “What Is BDR and How Does It Impact Business?“. In this first week, we covered the key benefits businesses gain from a good BDR strategy.

A good BDR strategy will give you protection against data loss and damage. Specifically, the data backup component of the BDR will safeguard your information in the face of a data breach, a system failure, a natural disaster, and so on.

A secure data backup system with the most innovative security measures and encryption tools offers better security, which is another significant benefit. With such a system, all your business information will remain safe and untouched. Also, a sound BDR will ensure higher customer retention even after a disaster.

Why is a BDR a Necessity?

BDR Plan

In week 2, we published a blog post on the “Top 5 Ways Your Business Can Be Impacted Without a BDR Plan.“

This blog talks about what could happen to your business if you operate without a reliable BDR strategy.

There are more events that can cause the collapse of a business than most business owners realize. Other than the publicized cyberattacks, factors like cloud-based threats, the increasing number of remote employees, and any natural disaster can damage an unprotected one.

Most of these are events that no one can predict or prevent. Using a robust BDR solution is the only way to keep your data secure from current external threats.

Signs of a Reliable BDR Solution

solid BDR plan

By now, we have established the importance of having a backup and disaster recovery plan for any business. But then, not all BDR plans are equal. How do you know if the one you have will work for you? In week 3, we tackle this concern in our blog post called “How Do You Know If Your IT Provider Has a Solid BDR Plan for You?“.

If you have a reliable IT provider, there’s a chance they have designed a great BDR solution for your company. But if you want to know how effective your BDR strategy is, check if it includes the five vital components: proactive measures for disaster recovery, priority for critical functions, emergency response procedures, secure data backup, and routine testing.

How a Managed IT Provider Can Help with a Reliable BDR Plan

Now that it’s clear how crucial a BDR plan is for your business, the only thing left is to bring in the right IT provider. So that they can design and implement a suitable plan. We have provided reliable backups and disaster recovery strategies for small and midsize businesses for years.

If you want a system that will give you the most protection, call us, and we will set you up! And don’t forget to download our FREE BDR infographic. It’s full of tips to help you learn about the BDR solution we offer.

Top 5 Ways Your Business Can Be Impacted without a BDR Plan

BDR Plan
Cybersecurity, Security, Technology, , , , , , ,

A backup and disaster recovery plan is crucial for every business, regardless of industry or the size of the enterprise. Disasters can stem from many situations, from natural calamities to online attacks or even a simple human error. Without a proper BDR plan, your business might easily get destroyed, possibly with very little hope of being able to get back up at all.

With the prevalence of online and offline threats, we cannot emphasize enough that a small business needs as much protection as possible. So if you are stubbornly resisting the call to put a reliable BDR plan in place, this is the perfect post for you. Keep reading to discover the drastic ways that may impact your business if you keep going without a BDR plan.

BDR Plan for Natural Disasters

No one can tell when or where a natural disaster will occur or how severe its effects will be. What will you do if your business records get caught in a raging fire or your servers get damaged beyond repair in a Category 4 typhoon? Without a BDR plan, you might as well sit in a corner and weep because there is no way you can recover the lost data.

Cloud-Based Threats

Businesses have been taking advantage of cloud solutions for multiple applications, which is a good thing. But with this trend also comes a horde of new online risks. In migrating your business to the cloud, it becomes one more target for relentless hackers searching for the next victim. A modern BDR plan takes these threats into account and lists actions with suitable security measures to minimize the risk to your business and your cloud-based data and processes.

Data Protection

A company’s data is one of its most valuable assets and must be protected. The backup should include transaction records, legal contracts, customer information, and a horde of data that would put you in a very unpleasant situation should it fall into the wrong hands. To keep your data safe, keep an updated copy in a secure location in case your primary storage gets compromised or damaged. Only a professional BDR solution can give you the data protection and security your business needs.

Remote Employees

Remote work has become very common because of the pandemic. While it has many perks for both the workers and your business, there is also the added risk that remote employees are inadvertently adding to the company. Often, remote employees use their networks at home while working, which are not very secure. If a hacker infiltrates your business, you can roll out your BDR plan to stop the damage and get back to normal operations as quickly as possible.

Ransomware

Almost all the million-dollar data breaches reported this year involved ransomware. This is one of the easiest and most effective attacks hackers use to conduct their illicit affairs. Many companies that have been the victims of ransomware attacks could recover, but only because they had an effective BDR strategy. And if you don’t have one, who knows what terrible fate awaits your business following an attack?

Protect Yourself and Your Business Today with a BDR Plan

According to statistics, about 40 percent of small and midsize businesses do not have any BDR plan. All they have is antivirus software and some data backups on an external hard drive, and that’s about it.

Danger will always lurk around, and there is no better time than now to prepare yourself. You should include a solid BDR strategy in the list of your small business needs. You can familiarize yourself with the many benefits of a BDR plan by downloading our FREE Infographic.

When you are ready to take the next step, we are standing by. Call us today, and we will create a robust BDR strategy to keep your business as secure as possible.

The Role of Current Technology in Business Growth and Expansion

business growth and expansion
Contact Relationship Management, Cybersecurity, Data Backup, Security, Technology, , , , ,

Business growth and expansion entail a lot of work in all the different areas—logistics, finance, research, and technology. Technology plays a key role because practically all aspects of business rely on it.

In our last few blogs, we have been talking about some benefits that small business owners can get out of integrating the right technology into their business, especially during expansion, downsizing, or switching from a remote work setup to a hybrid work environment.

Attracting and Retaining Talent for Business Growth and Expansion

how to attract large enterprise talent

For any SMB, attracting and keeping enterprise talent is quite an achievement. But, of course, it is rarely easy to do because most competent professionals prefer to work with global companies that offer better perks and higher pay.

Using technology, you can not only pique the interest of top candidates for your open positions, but you can also convince them to stay for your business growth and expansion.

These strategies, as described in our blog on Week 1 called “How Small Businesses Attract Large Enterprise Talent”, can range from simply making the hiring process pleasant or partnering with local community groups to something more proactive like offering a hybrid work environment that is much more attractive to potential new employees.

Installing Self-Help Kiosks

Self-Help Kiosks

In week 2, we covered one of the most popular technology trends for business growth and expansion. Our blog post entitled, “Self-Help Kiosk vs. Human—What Are the Pros and Cons?” he self-help kiosk has been appearing in a growing range of industries. We can find them in fast-food restaurants, bus terminals, banks, and more.

We also covered how these kiosks can help business growth and expansion. especially as remote workers switch to working in person or in a hybrid way. Some benefits we covered were contactless transactions, higher profits, faster service, and better connections. We also discussed the special significance of self-help kiosks in a hybrid workplace, where companies make do with a much lower employee population in the office.

Better Customer Service

How Your IT Company Affects Customers

Technology and customer service are two things people would not automatically relate to each other. But as you will quickly realize after reading our week 3 blog, “For Better or For Worse: How Your IT Company Affects Your Customers”, IT and customer service are closely connected.

Ensuring that the quality of your customer service is up to par is vital regardless of the work setup you have in the office. Whether your employees work from home, in the office, or a combination of both, be sure they always give great customer service. This can help improve your business growth and expansion.

With the help of a reliable IT provider, this should not be a problem. For example, we offer IT services that give your clients a better experience. Some services that we would be happy to provide for you are multichannel communications, live chats or chatbots, exemplary CRM software, personalized offer recommendations, self-service portals, advanced POS systems, and a trusty remote-to-hybrid system.

Choosing the Right MSP for Business Growth and Expansion

As you can see, technology is vital in many aspects of business growth and expansion. This step means one thing: you need to choose the right IT provider because they can make or break your business!

Fortunately, you don’t have to look too hard. We have the experience, expertise, and passion to provide you with the best IT service you require. We are very good at what we do but don’t take our word for it. Call us today, and we will show you what we can do to help take your business growth and expansion to the next level of success!