Host Dave Sobel welcomes back Peter Kujawa from Service Leadership to discuss the latest trends in managed service provider (MSP) revenue and profitability for Q3. Peter shares insights from a new analysis that reveals a slowdown in organic managed service growth, which has been trending back to historical norms after a significant spike during the COVID-19 pandemic. While the organic growth rate peaked at around 25% during the pandemic, it has now settled back to approximately 10-10.5%. Peter reassures MSPs that this return to historical levels is not a cause for panic, as it reflects a more stable market environment.

The conversation delves into the impact of inflation on revenue growth, highlighting that much of the previous growth was driven by price increases rather than new client acquisitions. Peter emphasizes that while MSPs have been raising prices to cope with wage inflation, this has also led to downward pressure on gross margins and profitability. Despite the cooling labor market, the overall outlook remains positive, with expectations for a solid year ahead, particularly for value-added resellers (VARs) who experienced high growth in product and project revenues during Q3.

As the discussion progresses, Peter shares intriguing data correlating MSP revenue growth with U.S. presidential election cycles. Historical data from previous election years indicates a pattern of decreased growth during election cycles, followed by a rebound in the subsequent year. With the 2024 election approaching, Peter anticipates a similar trend, suggesting that MSPs may experience a bounce-back in growth post-election, provided there are no significant unforeseen events.

Finally, the episode touches on the current state of mergers and acquisitions (M&A) in the MSP space. Peter notes that there is a notable disparity in the market, with many small MSPs and larger platform MSPs, but a lack of mid-sized firms. This has created a seller's market, where private equity buyers are particularly interested in acquiring smaller MSPs to consolidate and scale their operations. Peter advises smaller MSPs to develop a value creation strategy and consider merging with others to enhance their market position and achieve greater profitability. The episode concludes with a look ahead to upcoming reports on compensation and wage inflation, which will provide further insights into the evolving landscape of managed services.

 

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Q3 MSP Trends: Revenue Insights, M&A Dynamics, AI Impact, and Future Predictions with Peter Kujawa

In this episode of the Business of Tech Lounge, host Dave Sobel engages in a thought-provoking discussion with Ryan Morris of Morris Management Partners and Luis Giraldo, Chief Experience Officer at ScalePad. The conversation centers around the provocative question: Does standardization equal commoditization? As the IT channel evolves, many Managed Service Providers (MSPs) are grappling with the challenge of balancing technology stack and process standardization while striving to maintain strategic differentiation in a competitive market.

Luis highlights the growing concern among MSPs, particularly those with significant revenue, who are experiencing downward pricing pressure as clients perceive similar offerings from multiple providers. He emphasizes that while standardization can streamline operations, an over-reliance on it can lead to a lack of strategic conversations with clients. This disconnect often results in MSPs being viewed as interchangeable, leading to commoditization and a struggle to demonstrate unique value. The discussion underscores the importance of understanding clients' businesses and fostering deeper relationships to escape this commoditization trap.

Ryan adds to the conversation by questioning the motivations behind standardization. He argues that while it can simplify operations for MSPs, it often fails to deliver value to customers if not aligned with their needs. He points out that the industry is still young, with ample opportunities for growth, and that competing solely on price is a self-inflicted wound. Instead, he advocates for a focus on customer outcomes and the importance of customizing engagements based on industry-specific needs, rather than forcing clients into a one-size-fits-all approach.

As the episode wraps up, both guests agree on the necessity of evolving the conversation around service delivery. They suggest that MSPs should not only standardize their internal processes but also adapt their client-facing strategies to emphasize understanding and addressing specific business challenges. By doing so, MSPs can create a more engaging and valuable experience for their clients, ultimately leading to differentiation in a crowded marketplace. The episode serves as a call to action for MSPs to rethink their approach to standardization and commoditization, encouraging them to prioritize strategic relationships and tailored solutions.

 

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Navigating Standardization vs. Customization with Ryan Morris & Luis Giraldo

Host Dave Sobel sits down with Jeff Bishop, who oversees the ASIO product line at ConnectWise. The conversation delves into the evolution of the ASIO platform, which has been a significant focus for the company. Jeff reflects on the challenges faced during the development process, particularly the decision to create an entire platform during the pandemic, which he admits was not ideal. Despite the hurdles, the team has made substantial progress, rebuilding core services and laying a strong foundation for the future.

As the discussion unfolds, Jeff shares insights into the current state of the ASIO platform, particularly regarding the Remote Monitoring and Management (RMM) capabilities. He expresses confidence in the product's readiness, noting that the team has worked diligently to address previous shortcomings. The conversation highlights the importance of customer feedback and satisfaction, with Jeff emphasizing that success will be measured not just by numbers but by the genuine belief and enthusiasm of the MSP community towards ASIO.

The episode also explores the evolving role of Managed Service Providers (MSPs) in the context of artificial intelligence (AI) and automation. Jeff envisions a future where MSPs transition from purely technical roles to becoming business evangelists for their clients. He discusses the potential for MSPs to develop tailored solutions for specific industries, leveraging their expertise to help small businesses navigate the complexities of AI and cybersecurity. This shift represents a significant opportunity for MSPs to enhance their value proposition and deepen their relationships with clients.

Finally, Jeff addresses the skills required for MSPs to adapt to this changing landscape, suggesting that prompt engineering and data understanding will be crucial. He believes that the future will see a collaborative environment where MSPs can share workflows and innovations, creating a network effect that amplifies their capabilities. The episode concludes on a hopeful note, with Jeff expressing excitement about the potential for MSPs to thrive in this new era of technology and business integration.

 

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Exploring ASIO's Journey, RMM Confidence, AI's Impact, and MSP Evolution with Jeff Bishop

We start focusing on the resurgence of the state-sponsored cyber espionage group Volt Typhoon. This group has been targeting critical infrastructure, particularly outdated devices like Cisco and Netgear routers, and has successfully compromised a significant percentage of these devices in a short time frame. The episode highlights the vulnerabilities in the energy sector, where third-party breaches account for a substantial portion of incidents, emphasizing the need for improved vendor responsibility and proactive security measures.

Host Dave Sobel also covers the progress of the Secure by Design initiative led by CISA, which has seen over 100 companies commit to adopting secure development practices. This movement is gaining traction as organizations recognize the importance of reducing vulnerabilities in software. Additionally, the Transportation Security Administration has proposed new cybersecurity regulations aimed at protecting high-risk pipelines and railroad operators, mandating the establishment of cyber risk management programs and timely reporting of incidents.

The episode shifts focus to Microsoft, which is implementing a price hike on various services, including a 25% increase for Teams Phone and up to a 40% increase for Power BI. This move is part of Microsoft's strategy to align pricing across its services, reflecting the growing usage of premium features among enterprise customers. Sobel notes the significance of these changes in the context of the broader IT landscape, particularly as Windows 11 ISO media for ARM64 PCs becomes available, allowing for clean installations on compatible devices.

Finally, Sobel discusses the evolving role of IT consultancies, which are increasingly focusing on artificial intelligence, data governance, and platform integration as they prepare for 2025. The episode highlights the importance of clean and accessible data in leveraging AI technologies and the need for organizations to modernize their legacy systems. Sobel concludes with reflections on the ethical implications of AI in creative industries, citing a controversial AI-generated interview by a Polish radio station and the positive use of AI in restoring the voice of country music legend Randy Travis.

 

Four things to know today

00:00 Volt Typhoon Resurfaces with Advanced Attacks on Critical Infrastructure, Exploiting Legacy Routers [https://www.businessof.tech/2024/11/14/volt-typhoon-resurfaces-with-advanced-attacks-on-critical-infrastructure-exploiting-legacy-routers/]

02:48 CISA and TSA Cybersecurity Efforts as Secure-by-Design and NIST Framework Gain Ground [https://www.businessof.tech/2024/11/14/cisa-and-tsa-cybersecurity-efforts-as-secure-by-design-and-nist-framework-gain-ground/]

06:14 Microsoft's Price Hike Targets Monthly Subscriptions and Premium Services, Teams Phone to Rise 25% [https://www.businessof.tech/2024/11/14/microsofts-price-hike-targets-monthly-subscriptions-and-premium-services-teams-phone-to-rise-25/]

09:32 IT Consultancies Double Down on AI, Data, and Integration as Organizations Modernize for 2025 [https://www.businessof.tech/2024/11/14/it-consultancies-double-down-on-ai-data-and-integration-as-organizations-modernize-for-2025/]

 

 

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Cybersecurity Threats, Microsoft Price Hikes, AI in Consulting, and Password Trends Explored

Significant challenges are being faced by companies like OpenAI as they encounter scaling plateaus in developing new large language models. Host Dave Sobel notes that AI researchers are advocating for innovative training techniques that mimic human reasoning, suggesting a shift in the competitive landscape. OpenAI's latest model, O1, employs a technique called test-time compute, which allows for real-time evaluation of multiple possibilities, potentially enhancing performance and altering the demand for AI hardware, particularly NVIDIA's chips.

The episode also delves into the mixed sentiments surrounding AI-capable PCs. Despite a notable 49% growth in sales, these devices only represent 20% of the market, with many channel partners expressing skepticism about their value. A significant portion of IT decision-makers remains hesitant to trust AI for autonomous decision-making, reflecting broader concerns about security and ethical implications. Sobel emphasizes the need for clearer value propositions and better education to promote AI-capable PCs, especially as the industry transitions from the hype phase to a more normalized adoption of AI technologies.

Sobel highlights the increasing focus on cybersecurity as CrowdStrike launches its AI Red Team services to protect AI systems from rising cyber threats. With the rapid adoption of AI, risks such as model tampering and data poisoning are becoming more prevalent. The episode also touches on Microsoft's recent issues with unexpected upgrades to Windows Server, which have left some users in a difficult position, and the company's efforts to enhance its update procedures.

Finally, the episode addresses the energy challenges faced by tech companies, particularly Amazon, which had its request for increased power supply denied by regulators. As demand for data center power is projected to rise significantly, Sobel discusses the potential for partnerships with nuclear and renewable energy providers to ensure stability and sustainability in energy supply. The episode concludes by emphasizing the importance of energy efficiency in data center operations as companies navigate regulatory pressures and seek innovative solutions to meet their energy needs.

 

Four things to know today

00:00 OpenAI and AI Industry Pivot as Scaling Plateaus: Shift Towards Human-like Reasoning Could Redefine Market Competition [https://www.businessof.tech/2024/11/13/openai-and-ai-industry-pivot-as-scaling-plateaus-shift-towards-human-like-reasoning-could-redefine-market-competition/]

05:21 AI's Channel Opportunity Grows, But Skepticism Toward AI-Capable PCs Highlights Industry Trust Gap [https://www.businessof.tech/2024/11/13/ais-channel-opportunity-grows-but-skepticism-toward-ai-capable-pcs-highlights-industry-trust-gap/]

09:01 CrowdStrike, Microsoft, and Box Drive AI and Security Enhancements Amid Rising Enterprise D [https://www.businessof.tech/2024/11/13/crowdstrike-microsoft-and-box-drive-ai-and-security-enhancements-amid-rising-enterprise-demand/]emand

13:01 Amazon’s Power Request Denial Signals Rising Challenges in Data Center Energy Demands [https://www.businessof.tech/2024/11/13/amazons-power-request-denial-signals-rising-challenges-in-data-center-energy-demands/]

 

 

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AI Scaling Challenges, Market Shifts, Security Innovations, and Energy Supply Issues for Tech Firms

With a significant increase in global demand for cloud services and data security, the managed services market is expected to reach an estimated $393.02 billion by 2025. Factors contributing to this growth include the need for specialized providers to manage complex IT infrastructures and the rising trend of Bring Your Own Device (BYOD), which necessitates enhanced data security measures. North America leads the market, but Europe and Asia-Pacific are also experiencing substantial growth driven by cloud adoption and digital transformation.

The episode highlights a recent report indicating a slowdown in managed services revenue growth, returning to pre-COVID levels, despite strong profitability for managed service providers (MSPs). The average adjusted EBITDA for MSPs stands at 13.2%, with private equity-backed MSPs reporting even higher figures. In contrast, value-added resellers (VARs) have seen significant revenue growth, particularly in Europe, which experienced a 6.9% increase in managed services revenue. The discussion emphasizes the need for MSPs to adapt to changing client spending patterns as the market normalizes.

Host Dave Sobel also covers the competitive landscape, noting several key announcements from major players in the industry. ConnectWise has launched a Professional Services Automation (PSA) initiative aimed at enhancing MSP success through streamlined processes and improved efficiency. Meanwhile, NineMinds has introduced Alga PSA, a free open-source platform designed to compete with established PSA providers, and SuperOps has unveiled Monika, an AI-powered companion for MSPs that offers personalized insights and solutions. These developments signal a shift in the market as new entrants challenge traditional providers.

The episode concludes with a focus on the growing importance of cybersecurity and the need for human expertise in addressing complex threats. As the demand for AI services continues to exceed supply, the global cloud market has reached an impressive $84 billion, with major players like AWS, Microsoft, and Google Cloud holding a significant share. Solt encourages listeners to consider the implications of these trends for the future of managed services and the evolving landscape of IT solutions.

 

Four things to know today

00:00 IT and Managed Services Market Faces Growth Normalization as Global Demand for Cloud and Data Security Soars [https://www.businessof.tech/2024/11/12/it-and-managed-services-market-faces-growth-normalization-as-global-demand-for-cloud-and-data-security-soars/]

06:49 IT Nation Connect: ConnectWise Expands Asio with PSA Integration, Security Enhancements, and Unified Data Protection for MSPs [https://www.businessof.tech/2024/11/12/it-nation-connect-connectwise-expands-asio-with-psa-integration-security-enhancements-and-unified-data-protection-for-msps/]

08:38 Competitive Moves in PSA: NineMinds Launches Open-Source Alga PSA as SuperOps Introduces AI Companion Monica for MSPs [https://www.businessof.tech/2024/11/12/competitive-moves-in-psa-nineminds-launches-open-source-alga-psa-as-superops-introduces-ai-companion-monica-for-msps/]

10:50 Pax8 Adds EasyDMARC, 8x8 Unveils AI Upgrades, and Connecty AI Secures Funding: A Look at New Cloud and Data Management Solutions [https://www.businessof.tech/2024/11/12/pax8-adds-easydmarc-8x8-unveils-ai-upgrades-and-connecty-ai-secures-funding-a-look-at-new-cloud-and-data-management-solutions/]

 

 

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Managed Services Growth, PSA @ IT Nation Connect, PSA Competitors

Wayne Selk from CompTIA joins host Dave Sobel to focus on the current state of cybersecurity and the challenges faced by Managed Service Providers (MSPs). They delve into CompTIA's recent state of cybersecurity report, which highlights a significant gap between cybersecurity investments and the outcomes achieved. This disconnect raises critical questions about how MSPs can better align their efforts with business objectives to ensure effective cybersecurity practices.

Wayne emphasizes the importance of education and training for individuals within the cybersecurity field, noting that many professionals struggle to find the right resources to enhance their understanding of cybersecurity nuances. He points out that while annual security awareness training is beneficial, there is a need for more targeted training that addresses the specific roles and responsibilities of individuals within an organization. This lack of clarity contributes to the broader issue of MSPs not fully grasping the business outcomes they should be aiming for in their cybersecurity strategies.

The discussion also touches on the perception of cybersecurity among professionals, with only 25% feeling optimistic about its direction. Wayne argues that many MSP owners come from a purely technical background, lacking the business acumen necessary to develop effective risk management programs. He stresses the need for MSPs to work on their business objectives and create comprehensive business plans that align with their cybersecurity goals. By doing so, they can better prioritize their investments and training efforts, ultimately leading to improved outcomes.

As the conversation progresses, Wayne and Dave explore the implications of upcoming regulations, such as CMMC 2.0, and the need for vendors to adopt secure-by-design and secure-by-default practices. They discuss the importance of accountability in the software development process and the potential for regulation to drive change in the tech industry. The episode concludes with a call to action for MSPs to embrace foundational cybersecurity practices and leverage available resources to enhance their understanding and implementation of effective cybersecurity measures.

 


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Navigating Cybersecurity Gaps: MSP Challenges, CMMC Impact, & Vendor Responsibilities w/ Wayne Selk

In this bonus episode of the Business of Tech, host Dave Sobel engages in a thought-provoking discussion with Naveen Krishnan, an AI architect at Microsoft. The conversation centers around the evolving landscape of artificial intelligence and its applications across various industries, including retail, financial services, and manufacturing. Nupi shares insights into how businesses are increasingly looking to integrate AI into their existing solutions or develop new ones, highlighting the importance of understanding each customer's unique needs and use cases.

Krishnan elaborates on the common use cases for AI that he encounters, emphasizing the growing interest in chat capabilities and dynamic reporting. He explains how businesses are moving away from traditional canned reports and seeking more interactive, natural language-driven reporting solutions. Additionally, he discusses the rise of AI agents, which can perform tasks autonomously, such as generating images or managing DevOps pipelines, showcasing the potential for AI to streamline operations and enhance productivity.

The conversation also delves into the critical role of data management in successful AI implementations. Krishnan distinguishes between structured and unstructured data, explaining the necessity of preparing data effectively to leverage AI's capabilities. He outlines strategies for managing data, including creating views to filter relevant information and implementing security measures to protect sensitive data. Krishnan emphasizes the importance of a well-structured data pipeline, particularly for industries dealing with large volumes of unstructured text, such as law firms.

As the episode concludes, Krishnan shares his vision for the future of AI over the next 24 months, predicting a focus on refining existing technologies and addressing current limitations. He anticipates the emergence of more sophisticated AI agents that can perform complex tasks and interact seamlessly with users. This forward-looking perspective highlights the ongoing innovation in the AI space and the potential for businesses to harness these advancements to drive efficiency and improve customer experiences.


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Exploring AI Solutions: Azure AI, Copilot, Data Management, and Cybersecurity with Naveen Krishnan

In this episode of The Business of Tech, host Dave Sobel engages in a thought-provoking discussion with Aaron Painter, CEO of NameTag, about the evolving landscape of identity verification in the face of emerging threats like deep fakes. The conversation begins with an exploration of traditional identity verification methods, particularly multi-factor authentication (MFA), and their limitations. Painter emphasizes that while MFA is a critical first step in securing accounts, it is not sufficient on its own, especially when recovery processes can be exploited by malicious actors impersonating legitimate users.

As the dialogue progresses, Painter introduces the concept of behavioral biometrics and AI-powered verification as potential advancements in security. He explains how these technologies can monitor user behavior to determine if the person accessing an account is indeed the same individual who logged in. However, he also highlights the challenges associated with these methods, particularly in scenarios where identity verification is crucial, such as during account recovery or hiring processes. The discussion underscores the need for more robust identity verification practices that go beyond traditional methods.

The episode also delves into the growing adoption of passkeys as a solution for identity verification. Painter notes that while passkeys are gaining traction, particularly among larger tech companies, their implementation in small to mid-sized businesses remains limited. He points out that passkeys are not a complete replacement for passwords and still rely on traditional recovery methods, which can create vulnerabilities. This leads to a broader conversation about the importance of understanding the limitations of current technologies and the need for a comprehensive approach to identity security.

Finally, the conversation shifts to the implications of deep fakes on identity verification. Painter warns that the technology enabling deep fakes has become increasingly accessible, posing significant risks for organizations relying on visual verification methods. He advocates for a more advanced approach to identity verification that combines AI, cryptography, and biometrics to create a stronger defense against impersonation. The episode concludes with a call to action for organizations to rethink their identity verification processes and adapt to the evolving threat landscape, emphasizing the importance of knowing who users are in a digital world.

 

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Exploring Identity Verification: Beyond MFA, Passkeys, Deepfakes, w/ Aaron Painter

Cisco's 2024 Consumer Privacy Survey  reveals a growing awareness among consumers regarding data privacy and its correlation with trust in artificial intelligence. The survey indicates that 53% of consumers are now aware of their national privacy laws, a significant increase from previous years, and 81% of these informed individuals feel their data is protected. Notably, younger consumers are taking proactive steps to safeguard their privacy, with nearly half of those aged 25 to 34 having switched providers due to data policies. This shift towards privacy-centric behavior underscores the importance for businesses to prioritize transparency and secure data practices.

The episode also highlights recent developments in the managed services provider (MSP) landscape, including Pax8's launch of the Voyager Alliance Partner Program, which aims to support global partners in the cloud commerce marketplace. This program emphasizes a partner-first approach, offering tailored support and tiered benefits as partners progress. Additionally, Amazon Web Services (AWS) has introduced the Generative AI Partner Innovation Alliance, connecting customers with AI and machine learning experts to develop generative AI solutions. These initiatives reflect a broader trend of leveraging partnerships and marketplaces to enhance service offerings and customer support.

Host Dave Sobel further discusses the expansion of Nerdio's Manager for MSP platform, which now includes modern work capabilities for managing Microsoft 365 environments. This update aims to streamline operations for MSPs and improve efficiency with a new per-tenant pricing model that is more affordable for businesses of all sizes. The episode also touches on Evergreen's recent acquisitions of PCGIT and Netronom, as well as ConnectWise's efforts to strengthen its cybersecurity offerings in Europe through compliance with the EU's Network Information Security Directive.

Finally, the episode delves into the evolving role of CIOs in navigating disruptions such as service outages and data breaches. Jennica McHugh from Accenture emphasizes the need for CIOs to advocate for funding aimed at risk mitigation and to prioritize public reputation during crises. The discussion also includes insights from Vishal V. Paraspath of Resilience, who urges industry leaders to reassess vendor reliability and risk management strategies in light of recent cyber incidents. Overall, the episode provides a comprehensive overview of current trends and challenges in the tech landscape, encouraging listeners to consider their own strategies for growth and compliance in a rapidly changing environment.

 

Four things to know today

00:00 Privacy Awareness Soars: Cisco Survey Links Consumer Trust to AI and Data Protection Practices [https://www.businessof.tech/2024/11/06/privacy-awareness-soars-cisco-survey-links-consumer-trust-to-ai-and-data-protection-practices/]

03:13 AWS and Pax8 Launch Programs to Empower Partners in AI and Cloud Commerce Marketplaces [https://www.businessof.tech/2024/11/06/aws-and-pax8-launch-programs-to-empower-partners-in-ai-and-cloud-commerce-marketplaces/]

05:06 Consolidation and Certification Shape MSP Landscape: Nerdio’s Pricing Innovation, Evergreen’s Growth, and ConnectWise’s EU Compliance [https://www.businessof.tech/2024/11/06/consolidation-and-certification-shape-msp-landscape-nerdios-pricing-innovation-evergreens-growth-and-connectwises-eu-compliance/]

07:54 Proactive Risk Management and Compliance Take Center Stage as CIOs Turn Disruptions into Funding Opportunities [https://www.businessof.tech/2024/11/06/proactive-risk-management-and-compliance-take-center-stage-as-cios-turn-disruptions-into-funding-opportunities/]

 

 

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Each day, the flood of technology news hits. In an industry that always changes, those who deliver technology services need to focus on the information that matters to them. The Business of Tech podcast focuses on the news you need to know. Covering both the story and why it matters to the way services are created and delivered, channel veteran Dave Sobel brings you up to speed and gives you resources to go deeper. With insights and analysis, this five minute podcast focuses on the knowledge you need to be effective, profitable, and relevant.