Syncro: Market Consolidation in the Tech Industry

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Special Guest: Michael George, CEO, Syncro

In this interview, Michael discussed the industry’s evolution/back and forth of platform vs. point solutions – how and why that has evolved over time and where it’s heading. 

He talked about the profitability challenges faced by Managed Service Providers (MSPs), which typically range from 10-20%. He highlighted the increasing pressures on technicians due to compliance and cybersecurity issues, emphasizing their critical role in maintaining security, especially with the rise of remote work. He discussed the complexities faced by IT professionals and the potential consequences of lapses in IT support, using a recent incident involving a vendor's update failure as an example of the stakes involved.

The conversation also covered the growing reliance on technology among MSPs and the need for streamlined platforms to enhance operational efficiency. Michael pointed out the overwhelming number of products MSPs manage, advocating for automation to alleviate repetitive tasks and improve technician engagement. He stressed the importance of integrating AI into cybersecurity measures, noting the significant risks small to medium businesses face from cyber threats.