PSA Announces Partners for Managed Security Service Provider (MSSP) Program
PSA has announced the industry partners who have signed on to be part of its new Managed Security Service Provider (MSSP) program. PSA has partnered with industry leading solutions providers to bring cloud-based cyber security services, video management, remote video monitoring and access control solutions to systems integrators as part of a comprehensive program that will support implementation of the new business model into their existing operations. Industry partners for the preliminary program rollout include access control partners Brivo and 3xLOGIC; video partners Eagle Eye Networks, Netwatch, OpenEye, and Viakoo; and cyber security partners Essentire, and Panda Security.
“The initial eight manufacturers were chosen based on considerable due diligence,” said Bill Bozeman, president and CEO of PSA. “They each offer a product and service that fits our security integrator-centric MSSP model. They also respect the security integrator channel and understand the financial MSSP model as well. Additional manufacturers will be also offering products that can play into an MSSP program. We plan to continually expand the program to ensure our integrators have access to a full suite of the best options available.”
All eight vendor partners will be exhibiting at the upcoming PSA TEC event where systems integrators can learn more about their respective offerings during the one-day exhibit showcase on Thursday, March 14, 2019 in Denver, CO.
The MSSP program is designed to help systems integrators diversify their service offerings and realize the full potential and benefits of a managed services business model. It will hinge on uniting industry leading partners in cyber security and cloud-based security solutions, training and certification opportunities and financing options from PSA.
“We are not expecting the integrator community to abandon their current traditional contractor business model and jump over to MSSP entirely,” Bozeman said. “We anticipate this being a slow transition over the next 12-24 months for most integrators as they carve out some portion of their business to becoming an MSSP provider. The value the PSA MSSP program brings to the integrators is really about bringing them a comprehensive program to support them as they make changes to their business model. We are not only providing them access to the product lines they need, but we are providing ongoing training, sales compensation programs and financing programs as well.”
The PSA MSSP program is a new business model approach for everyone, including PSA, Bozeman noted. “We wanted to come to the table with offerings from access control, video and cyber providers because those are the main product categories that our integrators sell and they lend themselves to managed security very well. This is only the beginning of the program; there is already a long line of vendors who are in queue for the next phase of rollout of this program so you can expect to see more announcements in the coming months.”
Bozeman also added that the MSSP program will change how manufacturers offer their products and how security integrators sell those products. Today, most security integrators go to market using a traditional contractor model, selling the hardware and software a customer needs to meet their security needs. This approach requires the customer to pay up front for those hardware and software costs and the associated margin for the integrator. In an MSSP model, customers would not pay the entire amount up front but instead would commit to a contracted time period for a monthly or quarterly recurring fee for the provided services, upgrades and equipment.
“The marketplace is changing,” Bozeman concluded. “The way integrators do business is changing because the way that businesses are valued and how they bring value is changing. From a financial perspective, recurring revenue is a huge component of company valuation strategy and MSSP programs are giving integrators new avenues to create that recurring revenue. Also, the way that integrators provide value to their customers is changing. The strong overlap of physical security and IT has been happening for more than decade and that is now starting to impact what the end users are demanding.”
Visit www.psasecurity.com for more information.