PAX8 Beyond, AI Platform Updates, Security Programs, Broadcom Revenue Surge, VMware License Changes

[00:00:00] It's Thursday, June 13th, 2024, and I'm Dave Sobel. Three things to know today. PAX 8 Beyond Conference Highlights, $2 Billion Revenue Milestone, the AI-Driven Platform Updates, and a new security program. We talk Synchro's AI Ticketing at Cronus XDR, Bitdefender's Small Business Security, Compliance Scorecard Updates, Cloud

[00:00:22] Radials Portal, and Microsoft's GPT Builder Retirement. And Broadcom announces their increase of 2024 revenue forecast, announces a stock split, and changes to VMware Cloud on AWS licenses. This is the Business of Tech. It was Apple WWDC yesterday, it's PAX 8 Beyond today.

[00:00:45] PAX 8 President and Chief Commerce Officer Nick Heddy highlighted the company's milestones and future plans at PAX 8 Beyond's Conference. The PAX 8 Marketplace supports millions of SMBs worldwide and is undergoing updates to become a data-driven intelligence platform. The company recently surpassed $2 billion in annual recurring revenue

[00:01:06] and is focused on leveraging AI to help partners tap into the projected $15.7 trillion global economy by 2030. PAX 8 has launched updates to its platform, allowing managed services providers to create their own storefronts and utilize AI to identify sales opportunities. The platform includes features such as Opportunity Explorer, which helps

[00:01:28] MSPs tailor recommendations using AI, and Storefronts, which provide a self-serve option for customers. The PAX 8 Marketplace also offers smart search, advanced sorting, multi-cart capability, a quote-to-contract process, and a solutions library. The platform will be available to partners in North America, EMEA, and APAC starting from June 17th.

[00:01:52] PAX 8 has launched its first security program based on the CIS control framework, offering tools to enhance MSPs' operation and educational resources to understand and sell PAX 8 products. The program, developed in partnership with companies like Microsoft, SentinelOne, and CrowdStrike, will provide virtual educational sessions,

[00:02:12] vendor-specific training, and PAX 8-assisted sales calls. The PAX 8 security program is currently available in North America and will expand to APAC and EMEA later in the year. And they released some data, too. PAX 8's 2024 Artificial Intelligence Buying Trends report reveals that 88% of

[00:02:32] SMBs have implemented at least one AI system but face challenges such as insufficient infrastructure, data hygiene, and security. SMBs recognize the importance of AI adoption for their competitiveness and plan to purchase more AI systems in the next 12 to 24 months. Now, why do we care?

[00:02:53] PAX 8 has identified the opportunity I spoke about two years ago. Providers must embrace the e-commerce delivery of solutions. It's strategically the correct direction for providers. I also want to observe that if you build your platform on someone else's land, they control your destiny.

[00:03:12] I can speak from experience here as someone who operates a digital media company on other platforms, like YouTube. You are subject to their whims. For MSPs and IT services companies, I would be looking at building your e-commerce platform on your intellectual property, not someone else's.

[00:03:31] Yes, you want to be in their marketplace. No, you don't want to build your storefront on their land. There's a difference. And there were a ton of announcements this week, so let's cover those. Synchro has introduced an AI-powered smart ticket management solution for

[00:03:50] managed services providers and IT operations. This new feature aims to increase resolution efficiency and support profitable business growth by automating ticket categorization, providing asset identification, and offering guided and automated resolution steps. The solution is designed to save time for experienced technicians and help less

[00:04:10] experienced technicians solve more complex problems. Future enhancements will include smart search functionality to improve ticket resolution further. Acronis has launched Acronis XDR, an enhanced security solution for managed services providers. It offers comprehensive threat detection and response across all endpoints, addressing the increasing sophistication of cyber threats.

[00:04:33] Acronis XDR integrates cybersecurity, data protection, endpoint management, and automated recovery into a single platform, providing complete protection without high costs and complexity. The solution features native integration, AI-based incident analysis, and single-click response capabilities. Bitdefender has launched Ultimate Small Business Security, a comprehensive

[00:04:56] security suite for small businesses and entrepreneurs. The suite includes advanced device protection, webmail security, digital identity protection, a password manager, unlimited VPN access, and continuous monitoring of business assets. Compliance Scorecard has enhanced its compliance as a service platform with advanced risk management tools, improved asset management capabilities,

[00:05:19] and new compliance reporting methods. Key features include a risk register for tracking and addressing risks, plan of action and milestones management for structured risk mitigation, compliance control assessment reports for detailed compliance reporting, and integration of the risk register with assessment reports for seamless risk management.

[00:05:40] CloudRadial announces the launch of CloudRadial Portal 365, a dedicated client portal designed to enhance clients' experience and streamline operations. Portal 365 offers advanced ticketing features, automated account management features, and LMS functions with over 40 free Office 365 courses for client training.

[00:06:00] The portal serves as a central hub for MSPs and their clients, replacing the PSA user portal while maintaining tight integration with the PSA. Oh, and one that's retiring already. Microsoft is discontinuing the GPT Builder tool in its Copilot Pro AI-based service after just three months.

[00:06:20] Starting from July 10th, users will no longer be able to create GPTs, and all existing GPTs will be deleted. Microsoft is shifting its focus on GPTs to commercial and enterprise scenarios, but the company has not provided further details.

[00:06:36] Users are advised to save their custom GPT instructions before the tool is permanently removed. Now, why do we care? Pick and choose the tactical update you care about here. Some thoughts from me. AI-driven ticket management is a feature all PSAs should have.

[00:06:54] It should enhance provider and IT operations by enhancing ticket categorization, asset identification, and provide resolution guidance, and monitoring user feedback and performance metrics post-implementation will be crucial. AI also seems obvious for cybersecurity, and I expect it to be quickly integrated into everything.

[00:07:15] The true test will be its performance under real-world attack scenarios and the ease of integration into existing operations. Finally, I'll note how Microsoft pivots quickly around successes and drops failures. This move indicates that the company is refocusing its efforts on commercial

[00:07:32] and enterprise, potentially leaving smaller users and individual developers without a valuable tool. This is where your advice matters for customers. Chipmaker Broadcom has raised its annual revenue forecast and announced a stock split following a surge in its stock. The company manufactures advanced networking chips used in AI applications

[00:07:55] and has attracted orders from large cloud providers. Broadcom now expects full-year 2024 revenue of about $51 billion, higher than its previous forecast. It also raised its annual core profit projections and beat analysts' second quarter earnings and revenue estimates.

[00:08:14] And VMware Buy Broadcom has changed its licenses for VMware Cloud on AWS, disallowing on-demand use of its software. The new subscription-only model requires a one-year commitment and eliminates self-service for new hosts. Companies using the on-demand model must purchase an additional one-year subscription for those hosts by August 1st.

[00:08:36] This change limits the elasticity and flexibility of the service, putting VMware at a disadvantage compared to Microsoft and Google's on-demand offerings. AWS is responding by discussing its migration services for VMware and addressing concerns about the impact of Broadcom's acquisition of VMware. Now, why do we care?

[00:08:58] Broadcom is making many changes to VMware's delivery and they aren't suffering for it. Sure, there's a backlash, but they aren't worried financially so far. This should tell you everything you need to know. With as many breaches and security concerns as I report in this show,

[00:09:16] it should be obvious that cybersecurity is not just about technology, but also the human expertise needed to interpret and respond to complex threats. Huntress is focused on elevating SMBs and MSPs around the world. Huntress has a suite of fully managed cybersecurity solutions powered by a

[00:09:36] 24x7 human-led SOC dedicated to continuous monitoring, expert investigation, and rapid response. And the proof is the execution. Huntress is the number one rated EDR for SMBs on G2. Want to know more about the platform? Visit huntress.com slash MSP radio to learn more. Thanks for listening.

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