MSPs see security as both a challenge and an opportunity in 2022, especially as half say that their business is more at risk to cybercrime compared to one year ago
MIAMI — March 3, 2022 — Kaseya®, the leading provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBs), today announced the results of its 2022 MSP Benchmark Survey. The research, which is in its eleventh year, includes data about the priorities, challenges and predictions of more than 1,200 MSPs across the globe.
“With COVID-19 continuing to affect everything from global logistics to the work environment, it’s no surprise that 76% of MSPs said the pandemic affected their ability to expand services within their customer base,” said Mike Puglia, Chief Strategy Officer at Kaseya. “There’s an increased need for the security, business continuity and disaster recovery (BCDR) and remote work support services that are driving revenue growth for MSPs, and we expect the demand for these services to continue in 2022 and beyond. Efficiency continues to be a top priority for MSPs, with more than half saying integration among core applications is either critical or very important to them. Kaseya’s IT Complete suite of solutions is purpose-built for MSPs, with users able to reclaim an average of 25% of their time back through deep integrations that allow IT professionals to focus on work that directly impacts the bottom line.”
- Compliance is becoming a bigger pain point for MSPs’ customers. The ever-evolving compliance landscape has been a significant challenge for SMBs, with 74% of MSPs stating their customers struggle to meet regulatory compliance requirements. MSPs have been stepping up to help their customers navigate this complex landscape, with 75% of respondents either offering or interested in offering compliance services. 59% of MSPs had clients that were required to comply with HIPAA guidelines, followed by PCI DSS (41%) and GDPR (27%).
- Cybersecurity remains top of mind. MSPs are feeling increasingly concerned about the cybersecurity landscape—50% said their business is more at risk to cybercrime compared to one year ago, which is an 11% increase from 2021’s data. And there’s plenty reason for the increased focus—almost half of MSPs reported that a significant portion of their clients fell victim to a cyberattack within the last 12 months. Though cybersecurity is a significant concern for MSPs, it’s also been a revenue driver—the survey found that 50% of MSPs evaluate the threat landscape quarterly to add new service offerings for their organizations.
- Remote work has provided a wealth of opportunities. The pandemic has permanently reshaped the work environment, with 22% of respondents stating that remote workforce setup was the top service requested by their clients—followed by cloud migration (21%) and business continuity (13%). Remote work is also seen as a significant pain point for MSPs’ customers, with 36% of respondents selecting it as one of the top three IT problems for clients in 2022.
- MSPs value integrated solutions. 64% of MSPs said that integration among core applications, including RMM, PSA and IT documentation software, is either critical or very important to them, with 78% stating that this integration helps drive bottom-line profits.
- Supply chain issues and hiring are two major challenges MSPs expect to face in 2022. 92% of MSPs have had supply chain issues impact their ability to sell solutions while 19% said hiring would be their primary challenge in 2022— a 15% jump from 2021’s data.
- Active incident response plans are still a major need for MSPs’ clients. Though the threat of cyberattacks continues to grow, only 4% of respondents said that 100% of their client base has an active incident response plan. About half of the respondents reported that only 25% of their clients had an active incident response plan, with 8% of MSPs stating that none of their clients had an incident response plan in place.
- Most MSPs are testing their disaster recovery capabilities—but frequency varies. Due to the increasing complexity of IT environments and the cyberthreat landscape, IT professionals are instructed to test their disaster recovery capabilities regularly. Kaseya’s 2022 survey found 30% of MSPs simulate disaster recovery capabilities quarterly, 25% test annually and 9% test monthly — with 15% admitting that they never test.
In addition to the focus on key services for their SMB clients, many MSPs are actively surveying the landscape and assessing their readiness to buy or sell. Kaseya’s 2022 research found that nearly 36% of respondents plan to sell or acquire within the next 24 to 36 months.
“We hope these findings help MSPs as they assess their business priorities in the year ahead,” said Puglia. “Our research shows that MSPs have the ability to grow their monthly recurring revenue by solving client pain points around security, compliance and BCDR — and it’s most cost-effective to do this with an integrated single solution.”
For more details and a comprehensive analysis of the research, download the 2022 Kaseya MSP Benchmark Survey Report here: https://www.kaseya.com/resource/2022-msp-benchmark-survey-results/.