In a panel discussion at Channel Sec, Greg Jones, VP of Business Development EMEA at Kaseya, underscored the impact of vendor fatigue, highlighting that it has become a prevalent issue among MSPs.
Addressing a room full of partners, he said: "There's a huge number of vendors out there, and this is one of the top challenges for MSPs.
“In our surveys that go out to the MSP community, vendor fatigue is a significant issue. I recall dealing with around 22 different vendors to enable our total solution span. It can be very, very hard, with different account managers, bills, and headaches.
“This is challenging, which is why at Kaseya, we now offer over 42 different products and solutions in our ecosystem. They all roll into our single platform, providing a single pane of glass for MSPs to manage the ecosystem in one place".
Jones emphasised the need for MSPs to allocate time for each product or vendor.
"The main thing for MSPs is to allocate time for each product or vendor that you're working with because it is essential," he advised. "Interestingly, the release cycles typically involve 10 to 15 new features and enhancements every month.
“This amounts to about 3,000 features and enhancements annually, posing a significant challenge for MSPs to keep up with the constant changes.”
To address managing multiple vendors, Jones provided strategic advice for MSPs. He suggested focusing on markets with less competition and higher margins.
"The cybersecurity market is growing at 19 to 20%, compared to a general IT services market growing at about 10%. Less competition and greater margins in cybersecurity offer a better long-term focus," Jones recommended.
"MSPs should consider positioning themselves in these growing markets and make informed decisions about vendor selection.”
Benefits of vendor competition
Morten Kjaersgaard, Chairman and Founder of Heimdal also emphasised the significance of vendor competition in today's market.
"All of you who come into the room are facing morning vendor choices," he states. "There's no shortage of vendors in the room," Kjaersgaard notes, highlighting the diversity of choices.
Despite the challenges raised by Jones, he believes that the competition also benefits end users, who are "going to fall for a platform that they can hold on to." This, Kjaersgaard asserts, "can serve the customers when their customers have a need at some point in time to solve a problem."
Seamus Lennon, VP of Operations EMEA at ThreatLocker, echoed these sentiments by also highlighting the positive aspects of vendor competition.
"From a vendor perspective, it pushes innovation and causes change, bringing positive values to solutions that reduce overall maintenance for MSPs. Even with our solution, having the ability to arrange users to do what they need quickly and easily reduces overhead on appointing services," Lennon explained.
Lennons further stressed the importance reducing ongoing maintenance and management for MSPs.
"We always educate our partners to reduce the amount of time that the Service Desk consumes in implementing solutions. Keeping up with vendors and having a security stack that is vendor-agnostic allows MSPs to adapt to new technologies without significant disruption," he noted.
Maximizing outsourcing in a competitive vendor landscape
Sam Callaghan, VP Sales EMEA at ConnectWise, emphasised the critical role of partnerships and the challenges of vendor competition in addressing cybersecurity challenges and maximising business opportunities for MSPs.
"We're all in this together," Callaghan stated. "I was in a two-hour meeting yesterday with ConnectWise, working on some security matters. I also collaborate with the team at ThreatLockers to host events on security.
“There is a lot of competition, but we need to work more together because we can’t combat this on our own.”
He concluded by urging MSPs to seriously explore outsourcing as a vital strategy to scale their operations and capitalise on market opportunities amidst fierce vendor competition.
“Additionally, consider outsourcing. Many of you [partners in the room] may have looked into outsourcing for various reasons, maybe just for your general helpdesk or NOC services.
“However, outsourcing SOC specialist security areas or combining these services can be an excellent way to lighten the load on the existing team within the business. It can also capitalise on market opportunities, providing great revenue potential with a nice fat margin.”
Pictured l-r: Sam Callaghan, Morten Kjaersgaard, Greg Jones, and Seamus Lennon
