ePlus reports a strong growth portfolio bypassing staffing constraints and supply chain
Managed Service Provider (MSP) ePlus reported strong growth in supply chain shortage and staffing constraints. During the constraints, the national MSP had a tough time but put up revenue in the portfolio with satisfied customers.
President and CEO of ePlus Mark Marron talked about "higher-than market growth rates" among challenges faced in recent times. The coronavirus had a diverse effect across sectors, and the IT sector is no different. Even though the IT sector has its purpose of supporting the dependent industry at any given moment, they are going through staff shortages supply chain restrictions, among countless challenges.
ePlus is a renowned MSP providing managed service, advisory, security and hyper cloud solutions. Mark said, "we are confident that ePlus remains well-positioned for the future." The MSP ranked 35 in 2020 and 36 in 2021 in CRN's top 500 Solution Providers.
The MSP found growth secret in the challenging times: a combination focusing on high-value offerings. Security today is an essential recipe to provide, and a significant profit margin remains within cloud integration. Being affiliated with cloud giants, promises of diversified security and options for customers to grow in any way possible gave ePlus the freedom to work correctly.
The company is hopeful to publish a well-rounded revenue portfolio within the third quarter of 2022 (Q3 2022). ePlus has cloud and cloud data centre, security, collaboration, networking, AI, digital transformation, MSP or financing, a vast mix of offerings. If one side is taking a downside, there is always the other sectors. And for businesses trusting on ePlus have a diverse option too.
If they need AI integration in a year, they can efficiently achieve that by adding another service to the subscription profile. There will be no need to jump ships or work with multiple IT companies.
IT companies today seek long-time customers and add new ones to stay updated with the latest technology desired by many. Resilient IT spending is another key to diverting customers into successful execution.
According to the company's CEO, a growth strategy to capture public sector mid-market or enterprise-level clients is necessary. ePlus (NASDAQ: PLUS) went through six acquisitions from 2003 to 2021. Digital Paper was the first acquisition taking place on 15th October 2003. After that, consulting firm OneCloud is taken, followed by Integrated Data Storage on 18th September 2019. In 2019, ABS Technology and SLAIT Consulting were acquired. The last one took place on 4th January 2021, when ePlus bought Systems Management Planning.
All those investments are lining up for one another, giving ePlus the strength needed in tough times to support customers. MSP's should be resilient like this with a diverse portfolio. The Herndon, VA.-based solution provider, was on board with customer demand during the quarter. The company's quarterly financial analyst conference call across all customers and end markets segments.
CEO last year gave a speech on how "customers are taking advantage of our remote managed services, and we have the capabilities to prove security services and support solutions to create reliable hybrid work environments." He also talked about the remote work options of its employees.
Today cyber security threats are blowing up the roofs and breaking all records of stealing property, money, data. Ransomware concern and post-pandemic incident response require promise. And ePlus seemed to give that pretty generously to its customers who remain loyal.
The company has programs to support organisations developing and achieving security goals. Supporting customers are helping in bringing newer customers to its adaptable business as they make the modernisation process more accessible than ever.
If the supply chain constraints are lifted in 2022, the company hopes to break all previous records in serving customers, bagging revenue in return. The balance sheet of the company is made to target acquisitions in future.