Put Your Business on the Map: The 2024 Channel Futures MSP 501 Application Is Now Open

Channel Futures has announced the launch of the 2024 MSP 501 application along with the countdown to this year’s prestigious award ceremony at the Channel Partners MSP Summit which will be held Sept. 16-19 in Atlanta. The Channel Futures MSP 501 is still the industry’s most comprehensive listing of high-performance providers of managed services measured by actual financial data including revenue, managed services offered and the health of the business as supplied by applicants.

This year’s application has not only been updated but streamlined as well so that managed services providers can fill out the form more quickly and easily than in past years. The application is open to all channel partner business models that have a managed service practice including pure-play MSPs, VARs that offer managed services, IT consultants, trusted advisors, technology advisors, systems integrators, solution providers and MSSPs. The Channel Futures MSP 501 is an opportunity for any channel partner that has built a managed service practice to get recognized by peers, vendors and customers who view this list year-round for best-in-class providers.

“The MSP 501 list has become known as the Fortune 500 of managed services,” said Canalys Chief Analyst Jay McBain, a well-known thought leader in the IT channel. “Making the MSP 501 list is a sales and marketing gold mine for an MSP. Global recognition from Channel Futures, the most powerful and trusted media brand in managed services, provides an important endorsement for customers who are looking to take advantage of this $488 billion industry.”

Related:2023 Channel Futures MSP 501: Download the Complete List of Winners

The Channel Futures MSP 501 is the technology channel's first, largest and most comprehensive ranking of managed service providers around the world. It has evolved from a simple ranking of channel partners to an insightful, data-rich report that does more than name the top MSPs in the world — it shows how they got there. Inclusion in the MSP 501 has long been considered one of the highest and most prestigious honors in the entire channel because of its thoroughness and unbiased metrics.

The MSP 501 honors managed service providers who have achieved the highest levels of financial performance and real business outcomes. Past honorees, Channel Futures MSP advisory board members and many other advisors have stressed the need to include some measure of profitability to ensure that the businesses listed are thriving and sustainable operations. The application does require partners to include some profitability metric whether EBITDA — the gold standard for MSP valuation — gross profit margin or other profit benchmarks. The methodology does consider how profitability can be impacted by high levels of reinvestment into the business to fuel growth so those companies are not penalized.  

Related:2024 Channel Futures MSP 501 Season Kicks Off

Over the last year, we collected feedback from industry experts regarding the MSP 501 judging criteria. This enabled us to ensure that our 2024 methodology is more representative of the latest MSP business practices which have transitioned to more subscription-based services. The methodology refinements and upgrades to the Channel Futures MSP 501 came as a result of input from a group of managed services thought leaders that included analysts, vendors, distributors and a wide range of channel partners. The 2024 group consisted of Peter Kujawa, vice president and general manager of ConnectWise-owned Service Leadership; Len DiCostanzo, founder and CEO of MSP Toolkit; Sam Ruggeri, vice president of business development and strategic partnerships of Lincoln IT; Mitch Morgan, CEO of New Charter Technologies; Neil Medwed vice president of corporate development and M&A at Meriplex and Debbie Kane, principal consultant of Informa-owned Omdia Channel Research and Consulting.

Related:MSP 501 Information Center

 The data collected by applicants is held in the strictest of confidence and privacy guidelines. Under no circumstances will any individual company data be released without the express written permission of that company. Aggregate data will be released on the Channel Futures website so the industry can see such metrics as growth rates, services offered, MSP investments in AI, cloud and security and the overall direction of managed services. MSPs will gain insight into how they stack up against their peers regardless of their size as the MSP 501 levels the playing field.

“I was afraid to apply because there were major players on the list, and I was very small.  You won’t know unless you apply; I have no regrets,” said Magnitech CEO Tim Pabich.

After reviewing each application to validate every partner organization and ensure they offer the required minimum level of managed services, the Channel Futures research team will assign a ranking based on weighted methodology developed by our principal analyst Adam Devan and research senior manager Scott Grau. This year we are placing more weight on recurring revenue in our judging criteria to reward businesses that are adopting these modern solution delivery types. Our new judging criteria consists of the following: recurring revenue vs. total revenue, profit vs. total revenue and weighted total revenue.

“Being part of the MSP 501 helps you realize no matter your size, you can make an impact.  A sense of achievement comes with making the list; that satisfaction continues to grow as you work your way up the list.  As most of us know, accolades are nice, but seeing your team beam with pride as they continue to move up the MSP 501 list is priceless,” said Pamela Diaz, CEO of Entara and 2023’s MSP 501 Executive of the Year.

As part of the Channel Futures MSP 501 application, partners can nominate themselves or peers for a range of special channel partner awards that include Lifetime Achievement, MSP of the Year, the Vanguard Award, Digital Innovator and Executive of the Year. These awards take into account the organization’s performance on the MSP 501 listing along with a judging panel’s review of each special award application.

“The MSP 501 isn't just a list, it's a gold star on our company's report card, showcasing our dedication to innovative solutions and top-notch client service. For those eyeing this list with a mix of aspiration and hesitation, my advice is simple: Dive in. The application process itself is a journey of introspection and strategy, a chance to see what’s under the hood of your company and really fine-tune your vision,” said Marcial Velez, CEO of Xperteks, an MSP 501 award winner.

Benefits to all those applying for the 2024 Channel Futures MSP 501 include the receipt of an exclusive research report and analysis of the MSP 501 that can be used as a benchmark and decision-making tool; plus, automatic qualification for the new Channel Futures NextGen 101 listing of the most innovative MSPs in the industry and other benefits listed on our website. This year’s NextGen 101 will be open to all applicants whether they made the MSP 501 list or not.  In addition, MSP 501 applicants will be eligible to be listed as the industry’s top performers in AI, cloud and security, along with special recognition for companies that are minority-owned. Channel Futures will also profile the fastest-growing MSP 501 organizations, along with their top leaders.

The Channel Futures MSP 501, NextGen 101 and all special award winners will be invited to a gala awards and recognition dinner held at the MSP Summit in Atlanta this Sept. 16-19.

“Being on the MSP 501 is membership into an elite peer community of the best MSPs in the business,” said MSP Toolkit’s DiCostanzo. “The effort to apply is minimal based on the ROI you will gain from promoting you are one of the top players in the game.”

Ready to get started? Then check out the MSP 501 Information Center where you can find everything you need to know about the MSP 501 in one spot.