01732 759725 04 NEWS Looking forward to growth Almost half (45%) of MSPs expect their final 2023 results to show revenue growth of 1020%, with 26% predicting growth of 0%-10% in the last year, according to the latest MSP Pricing Plans & Models Report from Syncro. On average, 39% of an MSP’s annual revenue comes from monthly recurring managed services contracts, 24% from hourly work and 25% from project-based work. In 2023, 63% of MSPs increased their prices. ····· In the dark about switch-off Gamma Communications plc is warning that 30% of UK businesses are in the dark about the discontinuation of BT Openreach’s Public Switched Telephone Network (PSTN) due to be completed by December 2025. According to its report, The Big Switch-Off: Are UK Businesses Aware and Prepared?, only 54% of businesses that currently rely on legacy services for customer communications, order taking, internal communications, security and lift operation are currently aware of the Switch-Off. Three quarters (74%) of businesses are yet to complete essential migration tasks and 49% haven’t started researching alternatives. Gamma warns that scrambling to adopt new digital solutions at the lastminute could overwhelm providers. www.gamma.co.uk ····· S-RM highlights value of cyber insurance Last year, the direct cost of a cyber incident went up by 11% to an average of $1.7 million, claims cyber security consultancy S-RM in its annual Cyber Security Insights Report 2023. This figure rises to an average of $2.7 million for organisations that don’t have cyber insurance – 69% more than for those that do. The top three factors contributing to higher cyber incident costs are increased insurance premiums (37%), operational downtime (36%) and recovery and response costs (32%). https://www.s-rminform.com/cybersecurity-insights-report-2023 ····· Price hikes add to cyber woes Analysis by Veeam Software shows that last year, in the wake of a successful ransomware attack, 68% of businesses were forced to increase their prices by an average of 17%. More than three quarters (78%) also had to reduce their headcount. (Source: The Veeam Data Protection Trends Report 2023 www.veeam.com) ····· Seek and ye shall waste time App sprawl is causing 74% of workers to waste 1.5 days a week navigating disconnected collaboration tools. A survey of 3,000 US and UK workers by Asana’s Work Innovation Lab found that on average employees spend nearly an hour and a half a day looking for information needed for work, 57 minutes switching between collaboration tools and 30 minutes simply deciding what collaboration technologies they should use for a specific task. Over one third believe AI will help reduce the number of collaboration technologies needed, but only 28% say their organisation is well-prepared to deploy AI. ····· Businesses pick up tab for inefficient browsing A separate survey by AI-powered market research platform AMPLYFI found that workers waste 7.7 hours, the equivalent of one day a week, searching for information. Yet, still, 43% of decision-makers are unable to find the resources they need. Over half (57%) believe there are too many channels to visit in order to source the information needed for their job. Search engines (55%) are the most common source of information, with 41% of knowledge workers having 6-10 tabs open in their internet browser at any one time. Over half (57%) of respondents said they find contradictions in data across different channels, leaving them unsure of who to trust; 72% believe less than half the content they are able to access is relevant. Paul Teather, CEO of AMPLYFI, said: “AI is opening up new avenues for information gathering. Businesses can now harness a single source of information, conduct a lifetime of reading in 20 minutes, and create their own highly relevant content feeds, pulling from multiple sources across the internet. AI is ultimately allowing knowledge workers to put their fingerprint on the vast pool of data available.” Amplyfi.com NEWS Declouding powers rising IT budgets for MSPs Four out of five MSPs have increased their budgets for IT equipment in light of rising demand for enterprise IT, driven in part by declouding, claims ETB Technologies in a new report, A changing tide – booming MSP budgets and the role of refurbished IT. Of the 80% of MSPs with increased IT budgets, 67% have seen budgets go up by 50%, with 27% enjoying a rise of 60-70%. ETB, a supplier of refurbished servers, storage and network equipment, says rising demand for enterprise IT equipment is being driven by businesses that have started to take data management back in-house. Almost two thirds (62%) of MSPs say they are considering or have already begun the process of declouding. Nick Stapleton, Managing Director at ETB, said: “There’s a number of reasons why spending is on the up. Growing industry costs, increased security threats and structural change are just a few examples. While the change in budgets is significant, what’s clear from our research is that cost-efficiency, quality and service are key strategic considerations. Refurbished technology that is cheaper, more climate-friendly and just as reliable as brandnew equipment can play a huge role in the development and implementation of these strategies.” In Censuswide’s survey of 250 leaders of UK MSPs, 30% of respondents said they currently buy refurbished equipment, with 84% having bought refurbished tech in the past. https://www.etb-tech.com/ The Big PSTN Switch-off: Are UK businesses aware and prepared? Analysis of Business Awareness, Preparedness, and Recommendations Working smarter, together. A report by Gamma Communications in partnership with Cebr MSP & IT Professionals Pricing Report 2023 Your guide to the latest pricing strategies and trends shaping the industry today Nick Stapleton
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