The MSP ecosystem is growing by the minute as the world takes some significant turns in 2021. IT Vendor and MSP communities undergo changes and developments that show a much brighter and promising future ahead. What exactly are the updates in this ever-growing ecosystem that IT vendors should know about? Are you in the right industry for your IT business as you try to achieve your business goals and objectives?
IT Vendor and MSP Communities Updates and More
IT Vendors play a crucial role in the MSP ecosystem. Here are some basic points about this industry that IT Vendors should know and remember:
Managed Service Provider (MSP)
Also known as technology solution providers, MSPs provide hardware and software to end customers or clients. Moreover, the products they sell are also used for the management of the applications and IT infrastructures of their customers.
IT Vendors have MSPs in their partner channel because of their role in the resale of technology solution products. However, they are also customers because they use those products for their respective clients’ support.
MSP Channel Challenges and Problems
The IT Vendor and MSP communities have been operating together for several years. Unfortunately, many IT Vendors joined and left the channel without a full understanding of the real MSP operations while most MSPs experienced frustrations with IT Vendors because of the following:
- IT Vendors sell directly to MSP clients
- MSP clients find marketing materials too complicated and too technical
- IT Vendors bid against MSPs
- IT Vendors treat MSPs like salespeople instead of partners
- IT Vendors treat MSPs like VAR, which is an offensive comparison for MSPs
What should an IT Vendor do to be successful?
IT Vendors can become successful in their partnership with MSPs. Entering the MSP channel requires you to have a thorough understanding of the MSP operation. The good news is that you have the ForzaDash community as a venue to make this happen. With currently over 7,000 members in our MSP community, IT Vendors can find the ideal channel partners. As long as you meet specific criteria, there is an MSP partnership that will help you achieve your business goals.
The ForzaDash Mission: Help MSPs Grow
How can ForzaDash help MSPs grow? ForzaDash offers tools that make IT management easier and cost-effective for the growing MSP Community. There are free apps, two business intelligence platforms, that MSP members can use when they join the ForzaDash family:
- CWDash – The Simple and light dashboard for ConnectWise® Manage
- KasDash – The Simple and light dashboard for Kaseya® RMM
Both of these apps are free for the MSP as these business intelligence platforms are sponsor-based. The apps offer real-time and customized dashboards, skipping time-consuming queries. Up to 83% of MSP members use CWDash while 4% use KasDash. And 13% of MSPs use both applications.
Other benefits of ForzaDash MSP Community members:
- Peer collaboration regarding IT vendors and solutions
- Ongoing innovation and additional new app features
- Privilege to attend workshops for roadmaps and updates on IT Vendor and MSP communities
- Receiving regular tips, tricks, and updates through the official eNewsletter of the community
2021 ForzaDash Community MSP Traits
IT Vendors must understand how MSPs operate. The first step to do this is to have comprehensive knowledge of the IT Vendor and MSP community’s relationship. ForzaDash is a remarkable venue where you can enrich your understanding of the MSP ecosystem. Moreover, it is a great portal that can help you widen and grow your MSP network.
Here are some fundamental points you need to know about the ForzaDash community first:
- There are more than 7,000 MSPs that are members of our community. These MSPs utilize our ad-based sponsored apps.
- There are 40,000 MSP prospects that ForzaDash continually markets to
- We have more than 100 new MSPs added every month
Take a closer look at our MSP communities, specifically our most significant MSP traits for 2021:
1. How much do MSPs make?
Nearly 5,500 MSP members have approximate earnings of three million or less, which is 57% of the overall membership. The annual revenue of other MSPs showed that 23% earn 0 to 1 million, 13% earns 3 to 7 million, 3% earns 7 to 14 million, and 4% are big earners of more than $14million.
2. What is the Average Client Engagement in terms of the number of years?
According to the ForzaDash community report on IT Vendor and MSP communities, up to 40% of MSPs showed good figures. For instance, 40% of these MSPs established and maintained good relationships with their customers. The length of years in this rating is four years or longer.
3. How many businesses/customers do MSPs manage or support?
IT Vendors should know that ForzaDash MSPs are successful in terms of the number of their current client and business. Based on the ForzaDash report, more than 3,000 MSPs manage over 50 clients or businesses, and 14% of the MSP members have more than 100 clients under their managerial wings.
4. How many employees do MSPs have?
The MSP Community is flourishing and will continuously do so in the coming years. Thus, more and more people are being employed by such companies. In the ForzaDash community alone, 216,000 overall employees are working for MSP members. In the record, 96% of MSPs hire less than 100 people but they have nearly 164,000 employees as a group.
5. What year were the MSPs established?
Records show that 90% of MSP businesses have been established for 10 years or longer. However, those who initialized their business between 2000 and 2010 composed 61% of the members.
6. Where are these MSPs located?
Three fourths or 76% of the MSP members of the ForzaDash MSP community are in North America. In terms of geographical location, Australia/NZ comes second with 13% of MSPs located in the area. There are 2% of MSPs located in South America and Asia, 6% in Europe, and 1% in Africa.
7. What technologies do MSPs offer?
IT Vendors consider MSPs as both partners and customers in the provision and use of their technological solutions. For instance, more than half of managed service providers include IT consultation, hardware support, software support, backup services, security, and disaster recovery as part of their managed services offerings.
8. What is the anticipated growth rate for MSPs in 2021?
According to the collated records on ForzaDash MSP community, moderate or better growth is highly likely. For instance, less than 5,700 MSP members or 90% will experience better or moderate growth during the current fiscal year.
9. How many end-points do MSPs manage?
Records show the present state of the MSP community in the ForzaDash ecosystem. In terms of end-point management, 3,500 or half of the MSP members of the community have a remarkable rate. This number of MSPs has between 750,000 and 3 million endpoints under their management.
10. What vertical markets do MSPs serve?
On a global scale, MSPs are serving significant and large sectors. As of the updated records, 62% of MSPs operating globally handle specific verticals. The popular groups in this category include finance, legal, and healthcare. As for the ForzaDash MSPs, half of the members are likewise covering these sectors or industries.
11. What is the total revenue percentage as per sales to the following markets?
Based on the ForzaDash community data, 90% of revenues are derived from SMB or small-medium businesses. Furthermore, only 9% of the total revenue comes from large markets while 13% is from high mid-markets.
ForzaDash Community Spending Impact
IT Vendors must know the significance of ForzaDash in the overall MSP channel partnership. Moreover, the community has spending impact, which is connected to the growth of the parties involved.
IT Vendors that join the ForzaDash community as Sponsors connect with more than 7,000 MSP partners worldwide. In turn, these MSP partners are connected to and have current transactions with up to 250,000 small to medium businesses. Such transactions are growing part of the present IT spending of up to $49 billion.
Sponsors and MSPs Grow Hand in Hand
The Sponsors and the MSPs grow together in the ForzaDash ecosystem. The Sponsors help MSPs with mutual growth and capacity to achieve their respective business goals. How?
The ForzaDash community provides a venue for Sponsors to access innovative and top-quality MSP partners. This is possible through displaying vendor-sponsored ads via KasDash and CWDash. As of the present, there are 50+ partner sponsors while more than 10 are not displayed. These Sponsors generated up to $3.4 million in revenue as of January 2021.
Final Thoughts
IT Vendor and MSP communities are continuously growing with a lucrative and promising future ahead. However, it is not easy to find great prospects for IT vendors. IT vendors need a proven and tested MSP community to get connected with the right channel partners.
ForzaDash makes this happen by providing IT Vendors a venue where, as a Sponsor, they can widen their network and find MSPs. Use the ForzaDash community to recruit MSP partners and boost your revenue upfront. Join now and see the difference!
