local
Author: Press Release Posted by: David Elliott
Release date: June 25, 2024
Nex-Tech has been named one of the world’s top-performing managed service providers in the prestigious 2024 Channel Futures MSP 501 rankings.
A technology industry benchmark, the Channel Futures MSP 501 list ranks companies based on their growth, profitability and innovation.
For the past 17 years, managed services providers from around the world have applied to be included in this prestigious and definitive list. For any managed services organization, being included in the list is a landmark achievement. The Channel Futures MSP 501 study uses a quantitative methodology to rank companies based on annual revenue, profitability as measured by EBITDA, and recurring revenue. The methodology was developed by some of the biggest names in the managed services industry.
MSPs eligible for inclusion on the list must also pass a rigorous review conducted by Channel Futures’ research team and editors. Channel Futures ranks applicants using a proprietary methodology that evaluates financial performance based on long-term health and viability, commitment to ongoing revenue, and operational efficiency.
Channel Futures is pleased to have selected Nex-Tech as one of its 2024 MSP 501.
“Nex-Tech’s recognition as a top-tier managed services provider is a testament to our team’s unwavering commitment to excellence,” said Jimmy Todd, CEO and general manager of Nex-Tech. “This honor reflects our dedication to providing innovative solutions and exceptional service to our customers. We are proud to lead the MSP industry and will continue to strive for the highest standards in everything we do.”
This year’s list is one of the most competitive in the survey’s history. Winners will be announced on the Channel Futures website and honored during a special ceremony at the MSP Summit, taking place September 16-19 in Atlanta, Georgia.
MSP 501 is the pinnacle of the technology services industry, providing vendor- and platform-agnostic excellence and value to small, midsize, and large enterprise customers. This year, MSP 501 achieved average growth or recurring revenue of 19% and nearly $25 billion in total revenue – truly the best of the best. Many of the company’s services and technologies are focused on customer needs in the areas of AI, cloud, security, collaboration, networking, help desk, and remote monitoring and management.
Channel Futures MSP 501 is responsible for keeping customers safe, connected and efficient around the world.
“The 2024 Channel Futures MSP 501 winners have survived a tough marketplace and emerged as the best-performing and most innovative IT providers in the industry today,” said Dave Raffo, MSP editor and MSP 501 project manager. “What’s most impressive about the MSP 501 winners is that they deliver results for their customers every day. They are the most innovative, driven, and successful MSPs in a competitive industry.”
“For a managed services provider to make the Channel Futures MSP 501 list, they must be running at peak performance. This list represents the technology industry’s most productive, profitable and fastest-growing organizations that are focused on taking their customers to new heights,” said Bob DeMarzo, vice president of content at Informa Channels.
“These are the pinnacle of the managed services industry as defined by Channel Futures’ extensive research. MSP 501 companies are the most sought-after by peers who want to understand today’s best practices, and by technology suppliers who want to partner with these organizations,” DeMarzo said. “In essence, these are vendor- and platform-neutral partners focused on doing what’s right for their customers.”
Informa’s owned and operated Channel Futures media organisation is the only channel-centric events, media and research company able to provide such insight into the managed services market.
The data collected by the annual MSP 501 helps all companies on the list, and all providers with managed services practices, evaluate their performance and discover new ways to grow.
The 2024 MSP 501 list is based on confidential data collected and analyzed by Channel Futures’ research and editorial team. Data was collected online from February to May 2024. The MSP 501 list recognizes the top managed services providers based on metrics including recurring revenue, profit margins and other factors.
(Source: Nex-Tech)
