Do more and do it better to achieve long-term success

After the positive impact of Oxygen 250 last year, it was evident from the wider channel community that there was a huge appetite for an honest, trustworthy, in-depth analysis of our market.  The ‘state of the nation’ view showcased in the latest Oxygen 250 demonstrates the dynamic and continually evolving industry we all serve and contribute to.  

Once you read through this latest edition, I’m sure you will agree that its creator Doug, Editor at IT Channel Oxygen, has once again raised the bar, in terms of quality and insightful content.  

It is very evident from the findings in this report that the past 12 months have been challenging for many, as we see a decline in overall growth, increased M&A consolidation, leadership churn and reduced hardware sales. These are all signals that we are experiencing a period of significant change in our industry.

However, there are also some shining lights amongst the misty landscape with the likes of WWT, Bell Integration and Bytes Technology Solutions generating over a third of the 250’s growth. It is also worth mentioning that total annual revenues from the 250 equates to over £29bn, which makes it a significant contributor to the UK economy.  

As we step into the second quartile of the 21^st century, there is no doubt, channel firms and their respective end clients are faced with market dynamics of looking to do more with less.  Following geopolitical unrest, macro-economic influence and the cost-of-living crisis, tax increases are also looking imminent for UK businesses, so what can channel firms do to mitigate the risks? 

As a channel services provider supporting many of the MSPs and Resellers highlighted in this report, Nebula has identified a number of key areas where channel firms are transitioning their business to remain relevant in a changing market. 

Firstly, implementing increased automation for repeatable, high-volume tasks through the adoption of AI and machine learning. By proving you can harness AI-enabled technology within your own business is an ideal way to showcase your value and capabilities to your customers.  

Secondly, accelerating the migration to become a service provider to bolt on high-margin consumption-based recurring revenues. Attaching services and high-end consultancy to your proposition makes you more intrinsic to your customers when it comes to delivering a business outcome. 

Thirdly, building a robust value chain community where everyone is aligned on their goals and purpose. In the complex world of technology provision, partner-led ecosystems will become increasingly important to deliver agile outcomes. Enabling businesses to focus on their core offering whilst outsourcing anything on the periphery.   

Finally, expansion into new markets. We are seeing an increased number of UK firms looking to expand their geographical footprint and technology capabilities. Having a global value chain is essential in any successful Go-To-Market.

So, the mindset shouldn’t be to do more with less, it should be to do more and do it better to achieve long term success. As a result, companies will need to find ways to increase efficiency whilst reducing costs. This points in the direction of AI-enabled technology solutions coupled with collaborative partner-led ecosystems, and this is where the Oxygen 250 and the wider technology channel can really seize the opportunity.