The fourth-annual MSPmentor 100 survey closes today, so we're busy checking in with last year's MSPmentor 100 companies to see how they're performing. Today we look at All Covered, where growth -- organic and inorganic -- is an important element of the company's success. Here's the update.
In an interview, All Covered CEO Todd Croteau noted acquisitions have helped All Covered grow dramatically and move into up-and-coming areas for the company, including cloud computing. "We were able to complete six [acquisitions] this year, and we continue to learn and improve our strategy," he said. "The last three [companies] we picked up all had cloud computing offerings and different innovations."
And cloud is booming, no doubt about that. VP of Marketing Nick Pegley noted that although the moniker is somewhat new, cloud services are something All Covered has been doing for a while, and indeed, that seems to be the general sentiment among many MSPs. But Pegley detailed a bit more:
"I think this year  -- the second half -- has been about putting the pieces together. The next wave in 2011 is where it becomes not important where the severs are located. It's just a choice based on the application and requirements. We will offer and give the client the choice of everything from a pure on-site set to cloud-based, and a lot of them are going to end up somewhere between the two."Both agreed that cloud will be a significant revenue stream for 2011. That success is -- in part -- driven by All Covered's network operation center in Houston. "We have real employees watching the systems 24/7. It's a big difference than with smaller companies who have to leverage other resources," Croteau said, alluding to outsourced services located abroad.
What's more, All Covered's Net Promoter score, which measures a company's performance through its customers' eyes, has jumped to 45 from 34, putting the company in the top third percentile. Revenue has grown 13 percent from 2009 to 2010. Also, revenue is expected to jump roughly 17 percent from Q4 2009 to Q4 2010. Pegley noted that 80 percent of All Covered's revenue comes from services.
All Covered's corporate philosophy is based in part on the book, "Good To Great," by Jim Collins, and Croteau noted All Covered sends copies of the book to candidate companies during the acquisition process. "We found it helpful, so maybe they will [too]."
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