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

  1. NerdioCon - Feb 12 - 16, 2024, Punta Cana, Dominican Republic
  2. Right of Boom - March 6-8, 2024, MGM Grand Resort, Las Vegas
  3. CompTIA Communities & Councils Forum - March 11-13, Renaissance Chicago Downtown Hotel, Chicago
  4. N-able Empower - March 25-28 – Omni PGA Frisco Resort, Frisco, Texas
  5. Kaseya Connect - April 29-May 2, MGM Grand Resort, Las Vegas
    Jessica C. Davis

    Jessica C. Davis is Editorial Director of CyberRisk Alliance’s channel brands — MSSP Alert and ChannelE2E. She also oversees content and programming for the MSSP Alert Live event. She has spent a career as a journalist covering the business of technology including chips, software, the cloud, AI, and cybersecurity. She previously served as Editor in Chief of Channel Insider and later of MSP Mentor where she was one of the first editors to oversee the creation and vision of the MSP 501 list.