Fifosys Ranks High on the MSP 501
For the fourth consecutive year, Fifosys is delighted to have been named one of the leading Managed Service Providers in the world, as per the 2022 MSP 501 List by Channel Futures.
The MSP 501 is the world's first, largest and most comprehensive survey and ranking list in the IT channel.
Companies included on this list represent some of the most innovative and influential market leaders around the globe and as Channel Futures states:
"It's a great time to be an MSP. With no shortage of demand, a broad array of services to offer and businesses needing to manage the complexity and scope of core business functions, IT services are in demand more than ever. In this spirit, we are thrilled to present this year's MSP 501 class of 2022 officially."
Annually, MSPs throw their hats in the ring for a chance to become an MSP 501er, completing an extensive survey and application that details everything from product offerings to processes and revenues.
2022 Winners
For the first in-person gathering since COVID, the Channel Partners Europe Summit returned to London. Bringing together partners, technology providers, distributors, thought leaders and industry experts, we were delighted to be included in the celebrations for the EMEA winners of the 2022 MSP 501 during an awards gala that also included the EMEA winners of the Next Gen 101.
2021 saw a record number of submissions, growth and innovation taking place, and our inclusion on the list meant we had ranked on the list consistently since 2019, as seen in this blog post, and had the honour of being named the Number One MSP in the UK in the 2020 rankings.
In the 2021 list, we placed #91 overall - giving us a 4th place finish among all the European entrants.
For 2022, we are thrilled to share that we ranked #16 overall - and 2nd in EMEA, which is a testament to the tireless work our staff carries out across our sites in London and Birmingham.
Reaction
Mitesh Patel, Founder and Managing Director at Fifosys, reacted to the news by saying: 'It's been an incredibly challenging year for so many people and businesses, so we're once again proud to receive global recognition for the work we do.
"The MSP 501 has been going for around 16 years. We've always aspired to grow Fifosys and be recognised by our peers within the industry. The MSP 501 has evolved throughout, and it has become harder. With the increasing number of applicants (there were over 1000+ applicants this year), it's great to see Fifosys has consistently moved up the rankings, highlighting our growth, commitment to this sector and our commitment to our clients and our team."
Speaking about the winners, a statement from Channel Futures read:
"In such a hot market, MSPs on our 2022 MSP 501 list are not only surviving but also thriving and growing. This year's crop of 501ers isn't simply adding more customers, seats and endpoints under management. They have realistic, actionable business plans aligned with their capabilities and owners' personal goals".
Findings from the 2021 Entrants
Out of the data collected from the 501 applicants this year, several notable findings were found and published after the ceremony. These stated that:
"The dominant services reported were managed security, BDR, help desk, remote monitoring (including servers, desktops, laptops and networks), and managed email / anti-spam. Over 90% of the 501 reported these elements, which is significant.
"When asked what partners see as their biggest growth areas in 2022, not surprisingly, security was at the very top, at 89%. This includes endpoint, network, enhanced network monitoring, end-user security training, etc. Coming in close behind security was cloud migration, Office 365, professional services and compliance.
"Revenue growth rates for 2021 over 2020 for our 501 managed service providers painted a picture of MSP maturity. Total revenue came in at 15%, recurring revenue topped with 18%, and profit came in at 15%. All elements have shot up, making this 15-18% growth rather significant. The recurring revenue jump speaks to the industry evolution, going to the contracted 24/7 helper model."
The Final Word
Being named on the MSP 501 List is an honour for which we will always be incredibly thankful. There's arguably no better sign of our continued drive for excellence at Fifosys. We'd also like to congratulate the other 500 companies globally who completed the 2022 list.