Keeping Busy
- $4.421B Market Capitalization
BlackBerry Limited (BB.T) announced today that the Company has made numerous enhancements to its BlackBerry Partner Program. In doing so, BlackBerry hopes to assist Managed Security Service Providers (MSSPs) capture the rapidly growing demand among small and medium-sized businesses (SMBs) for 24x7x365 Managed Extended Detection and Response (XDR) services.
“With headline-grabbing hacks and a cybersecurity talent gap showing no signs of letting up, SMBs have never been more under-staffed or ill-prepared to meet the challenges posed by the continuously evolving threat landscape,” said Colleen McMillan, VP, Global Channel Sales at BlackBerry.
Through the BlackBerry Partner Program, partners have access to a variety of different programs and tools. BlackBerry’s programs include the Solution Provider Program, ISV Partner Program, Development Partner Program, and Training Partner Program. In particular, the Company’s Solution Provider Program offers partners four different tiers, namely Emerald, Platinum, Gold, and National.
As the name suggests, BlackBerry’s Solution Provider Program offers the software and services to grow a business. In terms of efficacy, an independent report from Frost & Sullivan found that BlackBerry’s solutions are able to secure all Internet of Things (IoT) endpoints, securing the enterprise from as high as 96% of cyberthreats.
Enhancements
With this in mind, some of BlackBerry’s enhancements include offering a greater range of products and services to MSSPs. To be more specific, the Company will now provide CylanceGUARD®, CylancePERSONA™, and CylanceGATEWAY™. In addition to its Cylance portfolio, MSSPs will also benefit from improved customer support.
According to BlackBerry, the Company intends to double its employee headcount in roles such as partner management, customer success, and channel enablement. In doing so, this will ensure partners have access to the technical and sales support necessary to compete in the XDR market, which is expected to grow from $22.45 billion in 2020 to $77.01 billion by 2030.
“Our top 20 MSSPs have grown more than 50 percent year over year and demand for human threat experts is through the roof. To that end, BlackBerry is doubling down and increasing our focus on our MSSP partners to ensure they’re set up for success,” continued Colleen McMillan.
BlackBerry has also introduced seller compensation on MSSP deals. This is expected to encourage field alignment while promoting MSSPs as a pivotal route to market. Moreover, the Company will now offer partners its new BlackBerry Cyber Security Administrator (BCSA) technical training, which will feature videos, instructor-led training, and online assessments.
Supply and Demand
The Company’s Protect and Earn program has also been expanded to reward MSSPs for closing new BlackBerry clients. Through this program, partners are eligible to receive cash-based rewards determined by a closed deal’s total contract value, with no limits. New pricing options and flexible licensing have also been introduced to support this.
Ultimately, BlackBerry will assist MSSP partners in generating demand and sales through proposal-based marketing funds, case studies, go-to-market engagement, and access to inside sales resources. Why now? Earlier last month, the Five Eyes Alliance, comprised of security authorities from the United Kingdom, Australia, Canada, New Zealand, and the United States, issued a warning.
In its warning, the Five Eyes Alliance warned of increased malicious cyber activity targeting MSPs. As stated by the Five Eyes Alliance, “threat actors can use a vulnerable MSP as an initial access vector to multiple victim networks, with globally cascading effects.” With this in mind, the security of MSPs is of the utmost importance, representing a promising market opportunity for BlackBerry.
BlackBerry’s share price opened at $7.65 today, down from a previous close of $7.67. The Company’s shares were down -0.52% and were trading at $7.63 as of 1:58 PM EST.
