Category 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!

How To Know If You Have a Solid BDR Plan?

solid BDR plan
Cybersecurity, Data Backup, Security, Technology, , , , ,

Data backup and disaster recovery are two of the most critical services businesses expect from an IT provider. It is especially crucial when malware attacks are so frequent that your business can easily crumble if caught without adequate preparation. That is why you will need to have a solid BDR plan.

If you have an IT provider, there’s a good chance they’ve already set up a BDR plan for your business. The question is, how do you know if this plan is any good? Will it protect you in the event of a nasty cyberattack? Will it help you get your business back on its feet after suffering the effects of a natural disaster? Is the protection it gives your business worth the money you are paying for it?

Crucial Elements of a Solid BDR Plan

Many business owners are not tech experts; therefore, they hire IT providers to manage their technology needs. But even without professional expertise, you can tell how solid your BDR plan is by checking if it satisfies the following areas.

Proactive Measures for Disaster Recovery

There are many causes of disasters, and a sound and solid BDR plan should have proactive measures for each possibility. From natural disasters to system failures caused by human error and everything in between, your BDR strategy should have it all covered.

Priority for Critical Business Functions

Each business is unique and has its own set of critical functions. That means there is no single solid BDR plan that works for everyone. You know that your IT provider has given you the best solution if they have taken the time to understand your business and have identified the crucial elements that need the highest level of protection.

Emergency Response Procedures for a Solid BDR Plan

During an emergency, it is critical to have a timely response, as this would be very helpful in mitigating risks and preventing further damage. A solid BDR plan should incorporate an emergency response protocol that includes IT support for keeping the company’s data and network as safe as possible.

Secure and Reliable Data Backup

The point of a data backup system is to have a secure copy of all your business data that you can use for recovery in case of a disaster. A solid BDR plan would backup data in cloud storage, which offers a high level of security and is in a separate location from your business.

Routine Testing and Reviews for a Solid BDR Plan

Even the most solid BDR plan can eventually become outdated, especially with the rate at which technology changes. Also, as your business grows, the risks might also change. Therefore, a reputable IT provider always does routine testing to check the integrity of your systems and makes adjustments to ensure that it keeps up with all the changes.

Evaluating Your Current BDR Strategy

Look at the BDR solution your IT provider has set up for you and see if it meets all the above requirements. If it does, then you should be in good shape. But if anything seems off or not up to par, it’s time to consider upgrading to a better BDR plan.

At our company, we have been keeping businesses prepared for worst-case scenarios for years. We specifically design BDR solutions to meet each client’s needs. 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.

If you want to experience peace of mind for your business, call us today, and we will set you up for a free consultation.

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.

What Is BDR and How Does It Impact Business?

what Is BDR
Cybersecurity, Data Backup, Technology, , , , , ,

Businesses these days conduct most of their processes digitally. On one hand, this is great because it speeds up transactions, improves data accuracy, and so on, allowing for faster and more efficient IT business development. But the heavy reliance on digital data brings new risks of data loss or damage. All businesses should have a good backup and disaster recovery plan to lessen these risks. We will explain to you what is BDR and how it impacts businesses.

An Introduction to What is BDR

BDR stands for “backup and disaster recovery.” It is a set of solutions that make sure data is safe and can be recovered after a disaster. A BDR plan aims to protect a business and maintain the continuity of operations despite any mishaps.

We often consider BDR solutions a defense against cyberattacks, which are becoming more frequent in recent years. But they are also beneficial in other circumstances, like keeping a business safe after a natural disaster or in any situation where the company’s data is at risk.

What a Sound BDR Strategy Can Do for Your Business

The lack of a proper BDR solution can have a negative impact on your business. At the very least, it can cause disruptions to your operation as your staff scrambles to recover all your data. In worst-case scenarios, you might not only find yourself with a destroyed business, but you may also face lawsuits as a repercussion of the disaster.

But if you have a tried-and-true BDR solution protecting your data, more than likely, you won’t have to face these dreadful scenarios. In addition, there are multiple other benefits that you can enjoy, such as the following.

Protection against Data Loss and Damage

There are so many ways for digital data to get lost, stolen, or damaged. It can happen through a data breach, a cyberattack, a system failure, human error, or a natural disaster. But if your business has a trusty BDR plan, it will protect your data despite any of these unfortunate incidents.

Better Data Security

Data security is integral to IT business development. A good BDR system makes sure of this by keeping a copy of all your business data, like contracts, transactions, client profiles, and so on, in a safe and remote location. Through high-tech encryption tools and physical security measures, we should protect data backups both physically and digitally.

Customer Retention

If you are not prepared for a disaster, you could lose hours or even days of downtime as you try to get everything back in order. Your clients will not be very forgiving of such situations and will probably leave and take their business to your competitors. With a sound BDR plan, you can have a quick and complete recovery, and your customers can have peace of mind and will not have a reason to leave.

Evaluating Your BDR Strategy

If your IT provider has already set up a BDR solution for your business, that’s great. But do you know how dependable it is? If disaster strikes, are you sure your defenses will hold up and keep your system and data protected?

Discover the impact that a BDR plan has on your business. Learn how the BDR plan affects your employees and the growth of your enterprise. For ideas and tips on creating your BDR strategy, download our FREE infographic or watch the video HERE.

We can also assess your existing BDR plan and make the necessary adjustments to make it perfectly suitable for your business needs. Call us today for a consultation!