NexusTek Ranks on the 2021 CRN® Fast Growth 150 List

NexusTek Ranks on the 2021 CRN® Fast Growth 150 List
NexusTek Ranks on the 2021 CRN® Fast Growth 150 List

NexusTek Ranks on the 2021 CRN® Fast Growth 150 List

Managed IT services provider recognized among top IT channel providers for exceptional performance and growth

Denver, CO (August 27, 2021) – NexusTek, a national provider of managed IT services and full IT outsourcing solutions to businesses across the U.S., announced today that CRN®, a brand of The Channel Company®, has named NexusTek to its 2021 Fast Growth 150 list for the third consecutive year.

CRN’s Fast Growth 150 list recognizes the fastest-growing North American technology integrators, solution providers, and IT consultants for their significant growth and meaningful performance over the previous two years.

“We are pleased that NexusTek has once again ranked on CRN’s 2021 Fast Growth 150 list and want to thank our customers for their confidence,” said Scott Ray, Chief Operating Officer, NexusTek. “We have made significant progress at NexusTek in the past two years, from acquiring and integrating IT services firm, Symmetrix Solutions, to hiring even more exceptional employees. Throughout this expansive growth, we have maintained our primary focus on delivering consistently high customer service. We will strive to continually advance our offerings with the latest technology solutions and support our customers’ success.”

“In today’s unpredictable world, the pace of change within the IT channel is happening at breakneck speed. CRN’s 2021 Fast Growth 150 list highlights industry-leading companies within the IT channel and their ability to outpace an ever-evolving market,” said Blaine Raddon, CEO of The Channel Company. “The prominent companies on this year’s list serves as an inspiration, setting an admirable level of excellence for their peers to follow. We are thrilled to honor these industry-leading professionals and wish them continued success for the foreseeable future.”

A sampling of the 2021 Fast Growth 150 list are featured in the August issue of CRN Magazine. View the complete list online at www.crn.com/fastgrowth150.

About NexusTek

Trusted by thousands of businesses for over two decades, NexusTek, a national provider of managed IT services and full IT outsourcing solutions, offers a comprehensive portfolio comprising end-user services, cloud, infrastructure, cybersecurity, and IT consulting. Ranked among the top MSPs in North America and a multi-year CRN Triple Crown Award winner, NexusTek’s 24/7/365 domestically-staffed support team designs holistic technology solutions to improve business continuity, productivity, operational efficiency, and cost-effectiveness for companies across the U.S., Canada, Mexico, and the United Kingdom. As an SSAE 18 SOC II certified company, NexusTek conducts yearly rigorous security audits to ensure customer safety and provide optimal service.

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NexusTek Ranked on Channel Futures MSP 501 List of Best-in-Class Businesses

NexusTek Ranked on Channel Futures MSP 501 List of Best-in-Class Businesses
NexusTek Ranked on Channel Futures MSP 501 List of Best-in-Class Businesses

NexusTek Ranked on Channel Futures MSP 501 List of Best-in-Class Businesses

Managed IT services provider recognized for the fourth year for its growth in recurring revenue and innovation

Denver, CO (August 19, 2021) – NexusTek, a national provider of managed IT services and full IT outsourcing solutions to businesses across the U.S., announced today that for the fourth consecutive year, it has been named as one of the world’s premier managed service providers in the 2021 Channel Futures MSP 501 rankings.

The Channel Futures MSP 501 survey examines organizational performance based on annual sales, recurring revenue, profit margins, revenue mix, growth opportunities, innovation, technology solutions supported, and company and customer demographics.

Managed services providers that qualify for the list must pass a rigorous review conducted by the research team and editors of Channel Futures that rank applicants using a unique methodology that weighs financial performance according to long-term health and viability, commitment to recurring revenue, and operational efficiency. This year’s list attracted a record number of applicants and was one of the most competitive in the survey’s history.

“We are thrilled that NexusTek has once again ranked in the MSP 501,” said Michael Hamuka, Chief Revenue Officer, NexusTek. “Our dedication and customer service has fostered a loyal and collaborative relationship with our clients, who we continue to empower year after year. Our innovation and technology solutions encourage new customers to join the NexusTek umbrella and experience IT optimization that drives business outcomes. We will strive to consistently enhance our client relationships and our product offerings to continuously improve our clients’ business efforts.”

“The 2021 Channel Futures MSP 501 winners are the highest-performing and most innovative IT providers in the industry today,” said Robert DeMarzo, Vice President of Content for the Channel Futures and Channel Partners Conference & Expo division of Informa Tech Channels. “This year’s list was clearly one of the best ever on record.”

“Vendors that are aligned with the Channel Futures MSP 501 are driving a new wave of innovation in the industry,” said Kelly Danziger, General Manager of Informa Tech Channels. “Through their partnerships, they are demonstrating a commitment to moving the MSP and entire channel forward. We extend our heartfelt congratulations to the 2021 winners.”

The MSP 501 winners will be recognized at the MSP 501 Awards Gala at the Channel Partners Conference & Expo / MSP Summit, Nov. 1-4, in Las Vegas.

The complete 2021 MSP 501 list is available on Channel Futures’ website.

About NexusTek

Trusted by thousands of businesses for over two decades, NexusTek, a national provider of managed IT services and full IT outsourcing solutions, offers a comprehensive portfolio comprising end-user services, cloud, infrastructure, cybersecurity, and IT consulting. Ranked among the top MSPs in North America and a multi-year CRN Triple Crown Award winner, NexusTek’s 24/7/365 domestically-staffed support team designs holistic technology solutions to improve business continuity, productivity, operational efficiency, and cost-effectiveness for companies across the U.S., Canada, Mexico, and the United Kingdom. As an SSAE 18 SOC II certified company, NexusTek conducts yearly rigorous security audits to ensure customer safety and provide optimal service.

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Ransomware + Cryptocurrency = Costly for Your Business

Ransomware + Cryptocurrency = Costly for Your Business

READ TIME: 5 MIN

Ransomware + Cryptocurrency = Costly for Your Business

Ransomware + Cryptocurrency = Costly for Your Business

Bitcoin. Ethereum. Dogecoin. You’ve probably heard of at least one of these cryptocurrencies that are now all the rage.

The cryptocurrency craze has grown in the past few years, with prices jumping in 2017 and simply skyrocketing in 2020. Simultaneously, ransomware attacks increased: The number of cases reported to the FBI increased 66% last year.

These are not unrelated trends.

The Connection Between Cryptocurrency and Ransomware

Cryptocurrency has enabled cybercriminals to anonymously extort businesses through ransomware. In fact, Bitcoin represents 98% of ransomware payments.

Here’s why.

Criminals need not worry about transporting large amounts of stolen money or converting the cash into more easily transferable goods when cryptocurrency is to be had. Now, they can hack a company’s IT system (usually by tricking an unaware and unassuming employee), encrypt the data, and demand huge sums of “virtual” money in exchange for access to their stolen data.

Disguised with a random account number, the cybercriminals remain anonymous during the transaction, and then move it from one anonymous account to another so it is impossible to trace—at least until recently. After the DarkSide’s ransomware attack on the Colonial Pipeline in the U.S., the FBI traced its way through account after account, eventually recovering more than half of the $4.4 million paid ransom.

While this recovery is hopeful, companies must not rely on the expectation their ransom will be returned: The Colonial Pipeline attack was a high-profile event, which demanded extensive resources to recover only part of the ransom; this treatment may not be provided for every business. Besides, the identification and prosecution of cybercriminals is another thing entirely.

Cryptocurrency and ransomware attacks have been steadily rising in recent years, but with more users online more often on more devices due to remote work and education in 2020, the two flourished and the effects were devastating.

The Impacts of a Ransomware Attack

The average ransomware payment increased by 60% in the first half of 2020. In less than two years, the average ransomware payment went from $12,000 in Q4 2019 to $54,000 in Q1 2021. Before 2020, there was no ransom above $6 million, but every quarter since Q1 2020 has had at least one. In 2019, a total of $92 million in cryptocurrency was sent to ransomware attackers; in 2020, that total rose to $406 million.

It is not just financial damages that your business could face because of a ransomware attack.

A study showed that 65% of those hit with a ransomware attack suffered revenue loss, and 26% closed their businesses for a period of time. 53% had their brand and reputation damaged. 32% lost C-level executives, and 29% laid off employees.

And of course, the loss of or delayed access to critical data is costly, but is it worth paying the ransom?

To Pay or Not To Pay

As of October 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced it is now illegal to pay ransoms to cybercriminals, and yet, some entities still pay. 15% of ransomware payments (equating to about $50 million in cryptocurrency) were subject to sanctions liability.

A 2020 survey reported that 68% of U.S. companies had paid the ransom demanded in their ransomware attack, and 10% did not pay. 22% were not infected.

Top reason for not paying the ransom? 42% said paying does not necessarily guarantee a decryption key. In fact, another study showed that only 8% got all their data back and 29% got no more than half their data.

Meanwhile, those that did pay the ransom seemingly marked themselves as pliable victims. 80% of businesses that paid were hit with a second ransomware attack; 46% believed it came from the same cybercriminals responsible for the first attack.

Whether a company decides to pay or not to pay the ransom, their most important decision will be how they prepare for and prevent ransomware attacks.

Ways to Protect Your Business from a Ransomware Attack

In one survey, businesses listed cybersecurity defenses and disaster recovery solutions that are critical against ransomware attacks: 24% said data backup, 18% advised employee security awareness training, and 15% recommended endpoint security for devices.

Here are a few ways to protect your business against ransomware threat actors:

  1. Enable a multilayered cybersecurity plan.
    Be sure to include managed email security, DNS security, patching, and endpoint security in your strategy. Monitor your IT systems 24/7 and detect threats with Security Information and Event Management (SIEM) and log monitoring. Don’t forget the employee security awareness training!

  2. Establish a business continuity plan.
    Safeguard your company in the event of a crisis with a set of policies, procedures, and automated processes to guarantee business operations will continue without downtime.

  3. Backup data and develop a disaster recovery plan.
    Preserve your data with consistent backups and a disaster recovery service to quickly restore data in the event it is lost or encrypted so no cybercriminal can hold it ransom against your business.

  4. Create and test an incident response plan.
    Develop procedures for the possible occurrence of all cyberattacks, including ransomware. The response and remediation processes should be specially written for how to isolate the threat, contain the damage, and eradicate the breach.

Ransomware preparedness is complex, and 54% of businesses state that cyberattacks are too advanced for their IT team to handle without external assistance.

Jumpstart Your Cybersecurity and Cyber Resiliency

Take your cybersecurity and cyber resiliency seriously with NexusTek. As an SSAE 18 SOC II certified company, NexusTek protects, detects, and responds to cyber threats. NexusTek’s managed cybersecurity plans—Essential, Standard, and Advanced—safeguard your business’ highest risk asset: your employees and their data. Plans are customizable based on need and existing IT environment. Our disaster recovery services ensure your business is not beholden to ransomware attackers, and our business continuity planning guarantees your company never misses a beat.

Take your security seriously with NexusTek.

The Cloud: You’re Using It Wrong

The Cloud: You’re Using It Wrong

READ TIME: 4 MIN

The Cloud: You’re Using It Wrong

The Cloud: You’re Using It Wrong

“The Cloud” has been all the rage since former Google CEO Eric Schmidt discussed the concept at an industry conference in 2006. Cloud computing helps individuals, companies, and government services safely store the ever-increasing amounts of data that are output every second. As a result, the Cloud is everywhere, and the cloud computing market will reach $287.03 billion by 2025.

If your business recently migrated to a public, private, or multi-cloud environment (or even a few years ago), are you sure you’re making the most of its many benefits?

We’ve highlighted just a few of the everyday uses and critical advantages of cloud computing. If you’re not already utilizing them, then you’re using the Cloud wrong.

Telecommunications

Telecommunications

You may not realize it, but the Cloud plays a major role in your daily communications. Emails, messaging applications, and video conference calls utilize cloud computing. The data from these services are stored on your cloud environment, rather than your device, freeing space on your device and eliminating risks if the device is lost or stolen. Additionally, telecommunications can improve productivity and employee morale. Nearly 9 in 10 employees say video conferencing reduces the time it takes to complete tasks or projects; makes it easier to get their point across; and helps them feel more connected. Since video conferencing performs 30% better than audio-only setups, we recommend always taking advantage of that face-to-face telecommunication. And for the cherry on top, cloud-based unified communications can save up to $400 an hour in IT costs!

File Hosting Services

File Hosting Services

One of the beautiful benefits of the Cloud is the security and shareability of its file hosting services. Documents update in real-time so that all invited members can view changes immediately, increasing communication and productivity. By 2025, there will be an estimated 200 zettabytes of global data—half of which will be stored in the Cloud. However, not everyone is onboard with file sharing, and subsequently, there are consequences. 92% of collaborating professionals risk losing files from the use of email. The productivity losses of such an occurrence are three-fold: the person who prepared the document loses 50% of their time; 83% of employees have recreated documents that were missing from the company network; and overall staff productivity loss due to document issues culminates at 21%. So, if you have not adopted this life hack yet, please start now: Stop attaching documents to emails, upload to the Cloud, and save us all some much-needed extra time.

Software-as-a-Service

Software-as-a-Service

Software-as-a-Service, or SaaS, allows users to access cloud-based data and software from any device with an internet connection. That’s right…from anywhere on any device. Enabled by SaaS, remote work allows employees to save time and money by working from home or even satisfying their wanderlust in Italy while working via the worldwide web. However, fewer than 6% of Americans worked remotely in 2019. The pandemic changed that. Remote work peaked in April 2020 when 70% of workers were off-site either fully or part-time. Even as social distancing lessens and offices reopen, over 50% of employees still work remotely. Some people do not want to pre-COVID-19 working conditions. 34% of employees prefer working in the cloud and will look for a new job if required to return to the office. If your business has not yet invested in SaaS, it would offer your employees a boost of flexibility and morale.

Chatbots

Chatbots

Chatbots utilize the computing capabilities of the Cloud to create conversational customer experience via audio or text through digital platforms. In fact, IBM reports that chatbots can answer 80% of standard questions. Adding a chatbot to your customer service phone line or your website can provide 24-hour availability and support, improving customer satisfaction and increasing sales. On average, chatbots increase sales 67%, claim business leaders, and 57% say chatbots deliver a large return on investment. Businesses that utilize chatbots provide 64% of their agents more time to solve more complex problems. Plus, chatbots can cut operational costs by 30%! Get the bot. You won’t regret it.

Backup

Backup

Instead of repetitive, manual backup processes, cloud backup automatically copies and stores data regularly and securely. Backup to the Cloud is a safer, more reliable method that saves time and increases productivity. Only 41% of professionals back up their data on a daily basis. Accidental deletion, hardware or software failure, or an out-of-date backup cause data loss for 68% of professionals. Additionally, businesses that utilize cloud experience a 15% faster time to market. Instead of setting calendar reminders to manually backup your data, allow the automatic cloud backups to save you precious time.

Disaster Recovery-as-a-Service

Disaster Recovery-as-a-Service

Disaster Recovery-as-a-Service, or DRaaS, utilizes cloud computing to backup and restore data and IT infrastructure in a timely manner after a disaster to maintain business continuity. Disasters can be natural, such as a flood or hurricane, or technical, such as a power outage or cyberattack. A day or two of system downtime may not seem like much out of the 261 working days a year. However, 40% of small businesses never reopen after a disaster, and of the ones that do reopen, 25% fail within a year. Downtime is not an “if” but “when.” 42% of organizations experienced data loss resulting in downtime this year, and 41% lost productivity or money due to data inaccessibility. The impacts of no disaster recovery plan are, simply, catastrophic. Be sure to be part of the 16.7% growth rate of the DRaaS market forecast through 2024.

The Cloud, as mysterious as its name may sound, offers some straightforward features that positively impact daily productivity, business security, and employee motivation. Cloud-based messaging, file hosting and sharing, SaaS, chatbots, backup, and DRaaS are simple but effective ways to improve the health and longevity of your business operations and employee morale. We highly recommend your company makes use of all six of these benefits within your cloud environment. If your organization has not yet hopped aboard the Cloud, NexusTek’s cloud engineer experts would be happy to discuss public, private, or multi-cloud environments that best enable and enhance your business.