Channel Brief: N-able, Canalys, Accenture, More

Grab a cup of your favorite morning beverage and check out the return of our regular market briefing for managed services providers (MSPs), IT service providers (ITSPs), technology service providers (TSPs), cloud service providers (CSPs) cybersecurity consultants, systems integrators, VARs, independent software vendors (ISVs), and distributors.

Scroll down for a quick view of upcoming in-person channel and MSP events at the bottom of this post (while we spiff up our industry calendar behind the scenes. It will return!)

And please send your news tips, information, and industry chatter to editorial director [email protected].

Sip up.

A. Today’s Tech, Channel and MSP News

1. Boom year for managed services - MSPs are bullish on their businesses for 2024. According to a new report produced through a partnership of N-able and Canalys, 65% of respondents are expecting to grow by double digits in 2024. The analyst firm is predicting a compound annual growth rate (CAGR) of 11 percent up to 2027 for MSPs. Watch ChannelE2E for more details coming soon about The MSP Horizons Report - 2024.

2. Accenture invests in managed security - Accenture has made a strategic investment through Accenture Ventures, in Tenchi Security, a third-party cyber risk management company. Accenture will leverage Tenchi’s SaaS platform as a new component of its managed security services offering to help organizations reduce cyber risks across their supply chain.

3. IT service margins - Wipro is reportedly cutting hundreds of jobs in order to increase its margins. The Economic Times of India reported that Wipro has the lowest margins (16%) among the four largest India-listed IT services companies. Tata Consultancy Services (25%), Infosys (20.5%), and HCL Technologies (19.8%) all had higher margins. (Economic Times of India)

4. Layoffs - Cybersecurity vendor Proofpoint is laying off 280 employees, or 6% of its workforce. Proofpoint was cquired by private equity giant Thoma Bravo for $12.3 billion in 2021 and has since acquired a few additional companies.

5. Cybersecurity breach rules - The FCC has updated its cybersecurity breach rules for telecom service providers, broadening definitions of personally identifiable information (PII), and expanding the definition of a breach to include inadvertent access, use or disclosure of that PII. (National Law Review)

B. In-Person MSP and Channel Partner Events