Technology Lab 2022 Year in Review: 18% Revenue Growth, Expanded K-12 Schools Reach in Southeast
MSP 501-winner, Technology Lab Targets 2023 20% Overall Revenue Growth
NASHVILLE, Tenn., Feb. 20, 2023 /PRNewswire-PRWeb/ -- Technology Lab's 2022 Year in Review was impressive, with the IT Managed Service Provider's (MSP) strategic moves delivering double-digit growth in overall revenue and recurring revenue, thanks to geographic expansion of its client base in the Southeast.
An attitude of servitude, building client relationships, and investments in its culture and productivity were guiding themes that led Technology Lab to grow its workforce by 35% and help achieve a 98% Customer Satisfaction Score (CSAT). Plus, Technology Lab earned MSP 501 Winner by Channel Futures for a second consecutive year. Technology Lab's leadership aims for strong growth in 2023 with a continued focus on K-12 schools in target Southeast markets, including Alabama, Georgia, Florida, Louisiana, and Tennessee.
"Enthusiastic determination marked 2022 for the Technology Lab team, as we drove 18% overall revenue growth and 40% recurring revenue growth year-over-year. We continued to experience exponential growth in the K-12 sector and gained tremendous exposure as a K-12 thought leader, speaking at numerous industry conferences, which helps strengthen our brand and support new business opportunities," said James Pope, Chief Revenue Officer, Technology Lab.
Technology Lab made great internal company strides in 2022. With new hires in leadership and new talent acquisition strategies, the company improved client discovery, onboarding, and project management processes, as well as enhanced communication between sales and HR departments while successfully implementing a hybrid work schedule at the Nashville headquarters.
"In addition to strategic initiatives in our people and culture, we have capital investments for new office spaces, shifting our headquarters to an expansive 10,000+ sq ft space in Southwest Nashville. Plus, team member growth at our Memphis office prompted an upgrade to a new, larger space within the Midtown Memphis Business District," said Colleen Mollica, VP of HR, Technology Lab.
Technology Lab emphasizes that in the K-12 School market, educators increasingly realize the critical need to invest in technology, keeping devices and infrastructure updated and secure to provide kids with learning environments that truly prepare them for the real world. For schools to successfully do this, typically on tight budgets, they need a strategic technology partner to navigate what's needed now and what will scale with schools in the future as technologies evolve, classrooms enhance on-premise and remote learning, and faculty and staff grow. That's where Technology Lab comes in.
"I'm thrilled about our wins in 2022, and we're already working hard to achieve record goals in 2023," said Josh Boyd, CEO, Technology Lab. "This year, we're targeting 20% overall revenue growth, 35% recurring revenue growth, deeper penetration into Florida and Georgia markets, and continued consistent growth in Louisiana, Alabama, and Tennessee school systems."
Mark your 2023 calendar—Technology Lab is attending and sponsoring the following Charter school association annual conferences, GSCA Atlanta in March, FSCA Orlando in October, AISA in November, and LAPCS New Orleans in December.
About Technology Lab
Technology Lab is a leading IT Managed Service Provider (MSP) focused on independent schools, specializing in Managed IT Services, Technology Strategy Services (Virtual CIO), Security Services, and Products & Services that keep schools compliant and thriving. Founded in 2009, Technology Lab is an award-winning Microsoft and Apple-certified MSP, Google for Education Partner, E-Rate Certified, Channel Futures MSP 501, and CRN Fast Growth 150 company.
A school's IT responsibilities are all-consuming, regardless of size or location. Time, money, and resources are often stretched thin, making managing the day-to-day technology needs daunting and new initiatives an impossible pursuit. That's where Technology Lab comes in. Our team of specialists has spent our days and nights in R&D, formulating a proven approach to IT solutions specifically designed for K-12 schools.
Headquartered in Nashville, Tennessee, Technology Lab boasts satellite offices in Alabama, Florida, Georgia, Mississippi, and Louisiana.
Simplified IT Solutions Designed for K-12 Schools — Innovation Awaits. To learn more, visit technologylab.com.
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Media Contact:
Audra Wait | Wait & Co.
[email protected] | 615.504.8812
Media Contact
James Pope, Technology Lab, 1 615-784-8000, [email protected]
SOURCE Technology Lab
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