MSP 501 Vanguard Award: Platte River Networks
… what the security platform should include, he said.
“The customers were obviously involved because we were helping them through the audits,” DeCamillis said. “So by coming back with products and services that fulfill the gaps in the audit, it made them happy. They wanted to participate.”
Platte River launched the security platform and in the past year “we’ve just seen it blow up because our customers are now starting to ask for it,” he said. The vendors included in the platform are Webroot, Fortinet, Mimecast, Blackpoint Cyber and Duo Security.
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“The key transformation is peace of mind because now we know the customers that are on our Security+ platform definitely have the highest level of security that we’ve seen available. So we know that they’re safe, we know there are lots of checks and balances to ensure that if the bad guys get through in some capacity, we have the ability to catch it and squash it quickly, contain it, clean it, recover from it,” DeCamillis said. “Also, we know our customers are less likely to get hit, not only from the outside, but also from the inside, because over 90% of the breaches today are caused by your employees, and if they’re better trained, better managed, better monitored, with better policies in place, [and so on], then it’s much easier to manage the environment securely.”
The platform fulfills 95-100% of most industry security requirements, he said. Since Platte River was able to bundle the solutions and services, it was able to price the platform “aggressively lower” than its competitors, making it affordable for SMB customers.
In addition, the platform allowed Platte River to increase its monthly recurring charge (MRC) from $105 to $130 in the past year. Its overall MRC increased by 22% in 2018 and is on track to increase by more than 30% this year.
Vendors are continuously vetted to find solutions that work better for Platte River and its customers.
“The MSP used to not be liable and involved on the security side of the business,” DeCamillis said. “They did the endpoint security, the firewall, the monitoring and patch management. Now, more and more of the MSPs are being required to up their game from a security perspective. We saw the writing on the wall three years ago, which is why we moved quickly. What I would expect is our competitors will start having to adopt a security-type platform in order to keep up because their customers are asking for it, and these SMBs would rather have one vendor managing it all. If any MSP wants to grow and thrive, they’re going to have to adopt a security platform like this within the next three to five years or they’ll definitely start losing customers.”