Hosted Solutions News: The Channel Co. Releases "Solution Provider 500" List

The Channel Co. has released its 2017 “Solution Provider 500” list, in which the news organization ranks North American solutions provider companies by revenue.

CRN Channel Co. 500 list

Among the well-known names on the list are IBM Global Services, Accentual, Presidio, and Broadview Networks, an office phone systems provider.

This “solutions provider” companies typically fall under the IT, SaaS, and UCaaS categories—areas that large companies often outsource to save money. Solutions providers are becoming increasingly valuable, thanks to the rapid growth in cloud technology and VoIP (Voice over Internet Protocol).

Cloud services continue to grow in 2017

The Channel Co. opted to show the entire list to the public this year, something the company has not done since 2010. Due to the explosion of solutions providers, list organizers felt that companies would benefit from reading through the list and determining the best fit for their needs.

Hollywood Presbyterian Medical Center

IBM Global Services, the top ranking company on the list, pulled in $20.24 billion in 2016, thanks in part to a surge in the Cloud Services department. Despite the high earnings, the 2016 fourth quarter was the 19th straight in which IBM’s revenue fell.

At the opposite end of the spectrum, Design Data, located in Gaithersburg, MD, ranked 500th on the list.

Virtual meeting software saves companies millions each year

On an industry-wide level, VoIP adoption is currently at an all-time high—according to Juniper Research, we could see 1 billion VoIP users this year. It’s not hard to see why.

Companies could reduce communication costs by up to 90% by switching to the cloud, and the cost savings associated with tools like virtual meeting software and mobile twinning make a significant impact to a company’s bottom line.

Presidio cracked the top 50 on this year's list

Another reason managed services are currently booming is security—it costs more to fix security breaches than it does to invest in secure cloud solutions.

For instance, Hollywood Presbyterian Medical Center coughed up $17,000 to reclaim files from a ransomware attack. The medical industry in particular is ready to spend more on solutions when it means added security.

To read the full “Solution Provider 500” list for 2017, visit The Channel Co. online.

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