Written by Ben Elms (pictured), Chief Revenue Officer at Expereo
In a recent study by Expereo of over 650 CIOs from large enterprises, we found that almost half (46%) plan to expand into new markets in the next 12 months. Market and global challenges are doing little to quell the appetite for growth in organisations worldwide. However, this doesn’t mean that companies are not maintaining a realistic vision of this growth, as 37% of CIOs recognise that establishing effective connectivity in new regions is a significant challenge within their role, with another 37% finding it to be a substantial organisational hurdle.
Across various industries, CIOs are finding their role more and more important in informing growth strategies, as issues such as maintaining connections between their organisation’s people and systems across regions are increasingly recognised as crucial to business success and stability. Expansion is no longer solely the responsibility of the CEO; CIOs are taking their seat at the table as they guide towards business connectivity, robust digital infrastructure and comprehensive security tools and strategies.
As businesses continue to factor in connectivity options to their growth plan, managed service providers (MSPs) are being given a chance to offer solutions that provide secure and reliable global connections. By mitigating the risks associated with expanding into new regions, MSPs can position themselves as the best option for business connectivity.
Understanding the lay of the land
For expansion to be successful, organisations must consider the skills and local market expertise necessary to perform in a new region. In today’s global business market, these aren’t always easy to come by, making working with knowledgeable partners with local expertise the obvious choice for companies looking to further their growth goals.
MSPs must maintain an in-depth understanding of local markets to bring a wealth of insights to the table, and businesses must do their due diligence in choosing a partner who will be able to identify the benefits and challenges of different regions when it comes to expansion. For instance, some markets may be highly regulated, with a focus on compliance, while some lesser regulated markets may require additional security strategies and protection. 42% of the CIOs we surveyed said they were requesting investments into local knowledge to address the challenges that growth can bring.
Businesses can find significant value in partners with local knowledge that can combat the risks while smoothing out the expansion process. This benefits companies’ internal strategy and provides insights that inform communication with customers and stakeholders.
Staying safe and sound
Advanced connectivity solutions such as SD-WAN can bring peace of mind to those looking to remove further risks from their global expansion. Protecting connections against interruptions and communication delays can safeguard expansion plans against inefficiency and, at worst, complete disruption.
In today’s increasingly connected world, there are more users, devices, data and applications outside of organisations’ walls than inside, bringing additional security challenges that MSPs can address with solutions that manage security across users, applications, and locations. SD-WAN solutions can empower businesses with secure collaboration options, removing the traditional barriers between regions while providing unified visibility across the span of companies’ connections.
Expansion often also brings increased complexity to businesses’ technology stacks, leading to companies partnering with multiple service providers across various platforms. MSPs have an opportunity to offer a single management solution that prioritises simplicity, security, and network visibility. CIOs are also aware of the importance of these connectivity solutions, with 42% of those surveyed saying their board sees global connectivity as critical to growth.
The perfect match
By addressing the present needs of businesses hoping to expand globally, MSPs can highlight the benefits of partnering with the correct solution. Our research shows that technology solutions are vital to global expansion, with half of respondents having increased their technology budget to deliver growth and overcome challenges in 2023.
By partnering with the correct solution, companies will be empowered to establish connectivity across regions, creating a cohesive business model that prioritises communication and collaboration while remaining vigilant of the risks accompanying expansion into new markets and regions. To achieve growth objectives, businesses must be ready to adapt to market needs and conditions, and by prioritising connectivity solutions and partners that develop alongside the organisation, businesses will find their global expansion a smoother and faster process.
