Three Ways for MSPs to Generate New Revenue Streams

By Netwrix Guest Blog 1

Most of IT industry analysts agree that MSP market is in a state of unprecedented growth. Indeed, the research by MarketsAndMarkets predicts that, between 2014 and 2019, the size of MSP market will almost double, with the global managed service industry being worth an estimated $193 billion. As a result, managed service providers will be facing intense competition from traditional IT service companies entering the MSP market. To beat the competition, managed service providers need to develop new innovative services that would create new dynamic revenue streams.

Security Assessment and Remediation Services

In the vast majority of cases, MSP customers do not have time or expertise to conduct risk assessment or remediate IT issues. By providing full range of services–including security program review, vulnerability scanning, penetration testing and incident response–MSPs can help clients identify potential vulnerabilities, respond rapidly to emerging problems, and enhance internal procedures and policies, thus strengthening overall security posture.

Compliance as a Service

If MSP customers are required to pass annual compliance audits, they will need to prove that compliance policies and controls are in place to maintain the integrity, availability, security, and accountability of sensitive data and IT systems. Compliance-friendly solutions or compliance as a service will help MSPs attract more customers and help them verify adherence to PCI DSS, HIPAA, SOX, FISMA/NIST800-53, COBIT, ISO/IEC 27001 and other regulations.

Increase of IT Transparency

Lack of visibility into IT infrastructure changes and data access remains the key customer concern when selecting a managed service provider. Regular and on-demand reporting on changes made within the organizational environment and privileged user activity monitoring will definitely increase the levels of trust between customers and their service providers. One of the key ways to enable greater transparency is implementing continuous auditing, which will allow MSPs to eliminate blind spots and minimize security risks.

Guest blogs such as this one are published monthly and are part of MSPmentor’s annual platinum sponsorship.