Small and Medium Size Business Stats from Kaseya Connect

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At this mornings keynote, Kaseya CEO Fred Voccola shared some interesting statistics connect-Las-Vegas-Board.pngabout how small and medium sized business (SMB) approach technology.

First, it’s important to define what constitutes a small business and what constitutes a medium sized business.  It seems like whomever you ask, they will have a different answer from the last person you asked.  I was glad to hear Fred provide context for how Kaseya defines these market segments.

A small size business is one that has no internal IT staff and between 1 and 300 employees.  A medium size business is one that has internal IT staff and between 300 and 3,000 employees.  This sets the stage realistically.

On to the stats:

  1. SMB’s have increased their technology investments over 400% in the last 3 years.  Among surveyed SMB’s, they feel that investing in technology is key to becoming more profitable through technology driven efficiencies.
  2. 57% of SMB’s believe that investing in technology is their single best business investment opportunity for growth.
  3. The number of technology services that SMB’s are outsourcing has doubled and continues to grow.
  4. The number of SMB’s wanting to implement two factor authentication (2FA) has grown by 70%.  The increase is being drive by regulatory requirements that have moved down-market and the fact that weak or compromised passwords are the number one cause of data breaches.
  5. 88% of SMB’s believe that if they use a public Cloud solution like Amazon Web Services (AWS), Google Cloud, Microsoft Azure or Office 365, that the Cloud company is fully managing and supporting them.  They are not.
  6. As a result, 73% of SMB’s are overspending on their Cloud subscriptions.

All of these data points confirm the opportunity and risk that technology holds for SMB’s.  As these companies invest more in technology, it’s more important than ever to work with a Managed Service Provider (MSP) like Internet & Telephone, LLC to help ensure you spend your dollars effectively.  Next generation services like network management, identity and access management (IAM), Cloud management and Office 365 management are services that we have been at the forefront of, helping our customers achieve first mover advantage without being on the bleeding edge.  I’m proud of our team and our service offerings as we are moving where the market want to go and doing so in a timely manner, assuring our customers that we are the best partner for their infrastructure technology needs.

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