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Opening Thoughts
A clear indication of the shift in information technology (IT) from a focus on products to services is the rise of managed services and Software-as-a-Service (SaaS) solutions. While many view managed services and SaaS as separate, THINKstrategies believes they are converging to fundamentally change the way organizations leverage technology. They are also transforming the way solution providers are supporting their customers' changing needs.
While the SaaS market has gained plenty of attention among the trade and business press, managed services are also gaining momentum. THINKstrategies' survey research has found that approximately a third of businesses of all sizes are using SaaS solutions to meet various business application needs. Our research has found that nearly 40% of organizations are leveraging a variety of managed services to manage their IT and networks.
Organizations are increasingly turning to managed service providers (MSPs) to cope with the escalating complexities and risks associated with keeping their IT and networks up and running. They are adopting SaaS solutions because they are fed up with the hassles and costs of deploying and maintaining business applications. In both cases, organizations are out-tasking these burdens so they can focus on their core businesses, and attain a greater return on investment (ROI) at a lower total cost of ownership (TCO) from the systems and software.
In order to maximize the benefits of today's managed services and SaaS solutions, organizations are also recognizing that they should select providers who can deliver the broadest suite of services. As a result, THINKstrategies has found that companies of all sizes, especially small and mid-size businesses (SMBs), are adopting strategic sourcing policies so they can fully leverage the solutions from the fewest number of vendors.
mindSHIFT Technologies (www.mindSHIFT.com) has recognized this trend and is expanding its portfolio of services to satisfy its customers' evolving needs. This profile will examine how mindSHIFT is capitalizing on a series of acquisitions to deliver a combination of managed services and SaaS solutions.
mindSHIFT's SaaS and Managed Services
mindSHIFT was founded in 1999 as part of the first wave of independent MSPs that emerged during the hype of the dot.com era. Today, it stands as one of the few of those industry pioneers that is still operating as an independent company. The others have either been acquired or disappeared because they failed to respond to their customers' changing needs. In contrast, mindSHIFT has not only survived, it is growing into a full-service supplier of IT management and business application services.
As a result of a combination of organic growth and a series of acquisitions, mindSHIFT now boasts approximately 350 employees serving 1,200 customers -- managing more than 14,000 seats and 1,600 devices and backing up 100 terabytes of data for SMBs headquartered throughout the Northeast corridor extending from New England to the Washington DC area and their satellite offices throughout the country. The company reports revenues of approximately $55 million and 38% growth.
The core of mindSHIFT's capabilities is its voice and data managed services, which include Voice over Internet Protocol (VoIP) solutions, server and network monitoring and management, antivirus management, patching, operating system management, proactive troubleshooting, security tools, data backup, end-user and workstation helpdesk services, and PCRetrieve data protection and theft recovery solution for lost or stolen workstations.
mindSHIFT's Hosted VoIP fully redundant, carrier-class solution leverages an Equinix data center and BroadSoft softswitch technology to support customers with multiple offices and those that require flexible mobile communications solutions. mindSHIFT's Dedicated VoIP solution is designed to support organizations which require on-site technology to meet their unique business requirements. Its Dedicated VoIP solution is based on Cisco's IP PBXs and provides integrated unified messaging capabilities. Both options also include bundled local and long-distance services, and permit end-user self-service, PC integration and advanced mobility.
In addition to its own investment in new offerings, mindSHIFT has undertaken an acquisition strategy to broaden its service portfolio beyond its core voice and data managed services, and deepen its industry-specific capabilities. In 2005, mindSHIFT acquired two companies - Dynamic Digital Services, Inc. and Union Square Technology Group LLC. Philadelphia-based DDS enabled mindSHIFT to expand its core data business to smaller customers. New York-based Union Square provided mindSHIFT with legal industry expertise, professional services and Aspire® managed services for law firms and corporate legal departments.
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