Introduction
Managed Service Providers (MSPs) must stay ahead of industry trends and challenges – it is part of their professional responsibility. Recently, key insights and feedback were gathered from the MSP Alliance Inspire peer group meeting and the MSP Summit Conference, shedding light on pivotal industry developments.
The State of MSPs
A pressing issue has emerged: “The time has come that we can’t just allow anybody to call themselves an MSP or MSSP.” With 80% of MSPs operating at low profit margins, the need for maturity and certification is more critical than ever. The industry must bridge the gap between mature MSPs and those still climbing the ladder of success.
Artificial Intelligence and Compliance
While AI remains a hot topic, the focus at these events shifted to compliance, with many MSPs unsure of where to start. The advice is clear: “Get your own house in order” as the first step towards effective compliance.
Succession Planning and Profitability
Succession planning emerged as a key theme, with MSPs exploring alternatives to private equity. The importance of diverse strategies is emphasized, advocating for “as much diversity of succession planning strategy as possible.” Additionally, the profitability divide between mature MSPs and others remains a challenge, urging MSPs to “begin your journey towards maturity today.”
Conclusion
As the MSP industry continues to evolve, staying informed and adaptable is essential. Insights from the Inspire and MSP Summit events provide a roadmap for MSPs to navigate the challenges and opportunities ahead. Subscribe now to stay updated on the latest trends and strategies in the MSP landscape.