This year’s MSPmentor 501 survey has been open for a couple weeks (deadline is March 31st) and we’re already seeing some interesting trends jump out from the surveys submitted by service providers. (You can apply yourself here: https://www.clarityintelplatform.com/msp/survey/)
Among the trends that have piqued our interest:
- The annual revenue range of applicants so far is between $400,000 and $180 million
- Average recurring revenue is up 8 percent year-over-year
- Nearly 80 percent of service providers added full time employees in 2015
- Nearly 50 percent of submissions are using the Clarity Intelligence Platform to verify revenue
While most service providers are enjoying good growth, more than a few companies have reported a drop in revenue on a year-over-year basis. We will watch this trend carefully and make correlations between growing service providers and ones reporting reduced revenue in our final report.
The fastest growing MSP in North America who has used the CIP connector to verify revenue is ZenTek Data Systems in Fort Lauderdale, Fla. We won’t share the company’s financials (we never do), but we can say with its blessing that its revenue for the first two months of the year is up 400 percent compared to a year ago. If raw revenue growth isn’t impressive enough, the company’s revenue-per-employee is even more outstanding. By the way, in case you’re wondering, ZenTek generates 75 percent of its sales from managed services, so its numbers are not inflated by big-ticket hardware sales or sizable projects.
One big winner on the vendor side is Datto, which 72 percent of service providers rely on for providing BDR services to their customers.
This is just a small fraction of data points we’ll be sharing with the community once we release the 2016 MSPmentor 501 list later this spring. All the data we gather is aggregated to benefit the entire industry and the more providers who participate, the better the final report.
Now is your time to be counted. Take a moment and fill out the 2016 MSP 501 survey. Benchmark your business and take your shot at being recognized as one of the world’s premier service providers.
The March 31st deadline is approaching!