Kaseya®, the leading provider of complete IT infrastructure management solutions for managed service providers (MSPs) and internal IT organizations, today announced a $10 million investment in its compliance business unit, as reported by Yahoo Finance. The division focuses on empowering MSPs to offer managed services to ensure their small and medium sized business customers are fully compliant with the growing list of regulatory standards worldwide. As part of this investment, Kaseya also announced the appointment of Max Pruger, formerly of CloudJumper, to serve as senior vice president and general manager of compliance.
Regulations, such as HIPAA, PCI DSS, GDPR, and FINRA - which used to be burdens only to large enterprises, have finally come downstream resulting in significant challenges for small to mid-sized businesses. Rigorous and complex regulatory guidelines coupled with hefty fines for non-compliance have led to the dramatic rise in the demand for compliance services from the MSPs who serve this market. With SMBs clamoring for these services from their MSPs, there is an enormous opportunity for MSPs to not only expand current client relationships, but also easily acquire new customers to drive incremental revenue.
This significant investment super-charges the Kaseya compliance business unit and expands on the company’s previous capabilities to help MSPs address the compliance challenges that touch the majority of their customers.
“It has become increasingly apparent that compliance is the ‘Next Big Managed Service’ rapidly becoming a necessity for MSPs who want to remain competitive,” said Fred Voccola, CEO, Kaseya. “Every MSP should offer compliance services. This is a blue ocean market that is ripe to be tapped and any MSP that doesn’t get into this game will sorely miss out. With Max Pruger at the helm of our compliance division, Kaseya and our customers are poised to take full advantage of this massive market opportunity.”
Pruger is an MSP veteran, with over 13 years’ experience in the MSP industry. He returns to Kaseya, where he previously spent nine years leading Kaseya’s strategic accounts, after a three year stint as an executive at MSP-facing software provider, CloudJumper.
“I’m thrilled to return to Kaseya in my new role at such an exciting time in the market. Compliance is a critical issue that presents a significant opportunity for MSPs and has a great impact on their SMB clients,” said Max Pruger, SVP and general manager of compliance, Kaseya. “It’s a privilege to once again be a part of the Kaseya family and to directly impact the growth and success of our MSPs.”
“Compliance has become a necessity across many business sectors,” said Adam Schwam, CEO, Sandwire Corporation, a leading provider of technology and business consulting services and a Kaseya MSP partner. “We’re thrilled that Kaseya recognizes the rapidly growing need to support compliance for SMBs – and the incredible revenue generator that this creates for MSPs. The fact that Kaseya is leading the charge by building a dedicated division to support this market goes to show how they continue to put their customers’ success first.”
“As an MSP serving a large number of SMBs with compliance needs, we’ve been able to create a successful compliance services business. Our HIPAAcraticRx offers services for both healthcare practices and the vendors of those healthcare practices who work with PHI (Protected Health Information). Kaseya’s compliance solutions provide the tools it takes for us to deliver these services as a great add-on for our existing and new clients. We’ve found this to be a very low overhead, high margin service that complements the work we already do with existing clientele. We have also used these services as a lead in to new accounts that we otherwise would not have been able to bring onboard. We’re planning to expand our compliance offerings into other regulatory areas using the success we’ve experienced with the HIPAA category - and with Kaseya as our compliance partner.”