ChannelCenter introduces ServiceXE: The First Marketplace for IT Services

Managed service providers (MSPs) face increasing challenges in gaining visibility and attracting new customers [1]. These MSPs or IT providers, responsible for the ongoing, day-to-day monitoring and maintenance of a range of functions for clients, compete in a crowded marketplace [2]. As the rise in the number of IT providers in the market has intensified competition, differentiating their services and reaching new audiences have become top priorities. ChannelCenter aims to be the first SaaS platform to offer IT providers a tool that will enable them to conceptualise and package repeatable, profitable IT services. The company has developed ServiceXE as a disruptive B2B SaaS platform that can deliver and democratise access to tech services. 

Industry overview and challenges 

Without IT service providers, many small- and medium-sized businesses would be unable to function effectively. Recent studies show that 88% of small and medium enterprises use or plan to use IT providers to manage their infrastructure [3]. The demand for companies providing managed services in the IT industry has been growing steadily prior to 2020 [1]. Recent factors have fuelled this demand for IT service providers. The Covid-19 pandemic accelerated the already rapid growth and adoption of cloud software and infrastructure [1]. Additionally, Canalys reports that IT service providers are generally the most optimistic of any of the business areas they cover. According to industry research, 65% of respondents to a recent study expected to grow sales by double digits in 2024 [4]. However, this same study highlights new customer acquisition, budgets, and skills as the top challenges faced by these companies [4]. The 2024 MSP Horizons report confirms these trends with 22% of survey respondents listing new customer acquisition as their single most significant challenge in today’s IT services landscape [1].  

Globally, there are more customers buying IT managed services than ever before, and those customers are also becoming more knowledgeable. They are also more conscious of the value of managed services [1]. This shows the importance of customers being able to compare offerings quickly and easily.  As the ecosystem of IT service providers and vendors grows, potential customers can get access to a suite of services from multiple parties [1]. Currently, there is no unified marketplace platform where IT service providers can list their offerings, and customers can easily discover, compare, and purchase these services. Referrals and word of mouth still dominate as the most effective marketing tactics for IT service providers. In 2023, a study showed that 70% of respondents identified referrals as the most beneficial marketing activity that drove the majority of new business [5].  

Utilising the services of an IT service provider can be instrumental in the success of organisations of all sizes that have business-critical IT infrastructure and applications. A good IT provider can help businesses grow, improve team productivity, and ensure positive customer experiences and satisfaction [6]. However, ChannelCenter believes that the absence of a central hub for IT service providers makes the sourcing, comparing, and consuming of IT services complicated. The company reports that potential customers are left to navigate a fragmented landscape and must source information from multiple providers, often without transparent information on pricing, service quality, or customer reviews. For IT service providers, ChannelCenter finds that the costs and efforts to acquire new customers are high as they must individually market their services.

Internal research conducted by ChannelCenter shows that the lack of a centralised marketplace is a significant obstacle in the growth of the IT service industry, both for service providers and customers seeking reliable IT services. The company believes that there is a pressing need for innovation in this space to simplify the service discovery and acquisition process. It further claims that innovation is required to make it easier for customers to find the right IT service providers, and for IT service providers to reach their target audience effectively. 

Introducing ChannelCenter

ChannelCenter aims to revolutionise the IT services landscape for IT providers through the development and commercialisation of ServiceXE, a next-generation digital marketplace that enables IT providers of all sizes to develop customised products easily. 

ServiceXE is designed specifically to change the way that SMEs find and procure IT services. The company believes that this platform will enable IT service providers to showcase their services effectively, with the goal of gaining new customers. 

 After extensive research and development, the company developed a proprietary methodology that allows IT service providers to simplify their services for SME owners, helping businesses benefit from greater transparency, efficiency and accessibility.  

What does ServiceXE do? 

ChannelCenter believes that ServiceXE could be the world’s first and only public marketplace dedicated exclusively to IT services. Its goal is to bridge the gap between IT service providers and potential customers, creating a seamless and efficient way to connect service providers with those in need of IT solutions. 

For end users, ServiceXE aims to simplify the process of sourcing, comparing, and purchasing IT services. They can browse through a wide range of offerings, read reviews, compare prices, and make informed decisions—all in one place. For IT service providers, ChannelCenter aims to offer an unparalleled opportunity to gain visibility, reach new customers, and grow their business in a way that was previously unimaginable. 

With ServiceXE, ChannelCenter plans to go beyond just building a marketplace platform. The company believes it is creating an ecosystem where IT services are accessible, transparent, and easy to acquire, and sees this as the future of IT service procurement.

The next steps 

As of September 2024, ChannelCenter is poised for expansion into the UK and secondary markets such as the US.  

The company has an MVP in the market. It believes that building this MVP has allowed the team to gather detailed market insights and articulation of customer needs, from which it has built a clear and definitive strategy and platform roadmap.  

ChannelCenter is now looking to release its ServiceXE module, which combines core components with the service methodology (business processes and IP) to produce services. ChannelCenter aims to release this platform in Q3 in 2024.  

ChannelCenter has chosen to use Floww’s innovative infrastructure to facilitate its funding efforts and help it achieve its future goals. 

*Floww Markets Limited is a company authorised and regulated by the Financial Conduct Authority (FCA). Firm reference number 980098.

The information and imagery contained within this article does not represent the opinions of Floww. Floww does not have a view on opinions provided by ChannelCenter (UK) Limited in this article and elsewhere where they may be expressed, and is not responsible or liable for the information within this article.