Channel Brief: Vanta Adds New GRC Tools, High Wire Networks Adds New Leadership

Recent Canalys research found the channel bullish on future growth prospects, according to a LinkedIn post by chief analyst Jay McBain. Managed services providers are the most optimistic (and highest performing) business owners across the 297 global subindustries named in the research, McBain said. A full 88% of MSPs surveyed this week are in growth mode in 2024 with 57% of them growing by double-digits in a world economy only growing by 2.9%.

Not only are they reporting record revenue growth, they are growing profitability at the same time, the research showed. With $548 billion in global sales, managed services now makes up over 15% of client budgets on IT hardware, software, and services with 335,000 firms now participating with at least one managed contract.

McBain said the shift toward cybersecurity services is a big factor in growth, as cyber managed services are growing 14.8%. And if this trajectory continues, managed services growth will hit 20% in about five years or so.

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Grab your coffee. Here's what you need to know today.

Today’s Tech, Channel and MSP News

1. Vanta introduces new GRC tools: Trust management platform Vanta released new product features to help automate existing GRC workflows and improve visibility across security and compliance programs, the company said in a statement. Vanta’s new Report Center, enhancements to VRM and milestone achievements for pre-built integrations and frameworks give GRC and security teams always-on visibility with actionable insights so they can establish and promote trust internally and externally.

2. FluidOne acquires Orca in the UK: Technology Reseller UK reports that cloud solutions provider FluidOne has made its third acquisition of 2024, buying specialist IT MSP Orca IT Ltd (Orca). This grows FluidOne’s presence in IT and cybersecurity managed services, adds a northwest UK presence and increased specialization in professional services, the company said. Orca IT Ltd. delivers end-to-end managed IT services, support, hosted desktop, cloud solutions and strategic guidance, with more than 20 years of experience of working with professional services organisations. This is the first acquisition since FluidOne secured a committed acquisition facility with Pemberton in June 2024. Following the March 2024 acquisition of SureCloud Cyber Services, the FluidOne group now employs 540 people across nine office locations.

3. High Wire Networks announces new leadership: After announcing earlier this year that it would pivot to become a pure-play MSSP, High Wire Networks this week appointed Edward Vasko, CISSP, as CEO and Mark Dallmeier as CRO of the company’s Overwatch managed cybersecurity services division. Vasko served as a strategic advisor to High Wire and was the director of Boise State University’s Institute of Pervasive Cybersecurity. He also previously was SVP at a top 50 national managed security and consulting provider, co-founder and CEO of Terra Verde (now Avertium) and co-chair of Arizona’s Cyber Team (ACT) Workforce Development Committee. Dallmeier was previously president and CEO of MARS Suite, a cybersecurity and risk management platform company, served as fractional CRO, CSO and CMO for various companies, including Vertek, Xceptional Networks, New Genesis Solutions and MSS BTA. Previously, he was CEO of The ROBB Group, a provider of management consulting for emerging growth companies and chief sales and marketing officer at Terra Verde (now Avertium). Congratulations!

4. Cybersecurity hiring spree aims to fill skills gap: Ongoing gaps in the U.S. cybersecurity workforce that have left nearly half a million jobs unfilled have prompted the Office of the National Cyber Director to introduce the new Service for America cyber hiring sprint that would link jobseekers to cyber jobs within the next two months, The Register reports. Numerous career events tackling the federal job application process and National Institute of Standards and Technology-led cyber career workshops, as well as events aimed at addressing cyber employment in the private sector, will be held until the end of October as part of the program, which is conducted by the ONCD in collaboration with the Office of Management and Budget and the Office of Personnel Management, according to National Cyber Director Harry Coker, Jr. "Our Nation has a critical need for cyber talent. Today, there are approximately 500,000 open cyber jobs in the United States and that number is only going to grow as more services and products go online with the expansion of technologies like artificial intelligence," said Coker.

5. Federal agencies close to completing zero-trust adoption: Zero-trust implementation has been 87% completed across federal agencies on average ahead of the September 30 deadline, according to FedScoop. Moreover, all Chief Financial Officers Act agencies recorded completion rates in the high 90% range, said federal Chief Information Officer Clare Martorana during a Billington Cybersecurity Summit panel. Cybersecurity efforts that sought federal zero-trust adoption have been mostly supported by the Technology Modernization Fund, with one of the three unnamed agencies that led the utilization of such funding for zero-trust disclosing legacy IT-related challenges, Martorana noted. "For every agency, it is a journey, it is not a destination. You don't get to a place called zero trust and it's unicorns and rainbows. It is a journey that we have to be on and that also requires consistent funding," said Martorana. Martorana's statements come months after total federal zero-trust implementation was noted by numerous IT officials across federal agencies to be achievable before the end of September.

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