The managed security service provider (MSSP) business is currently a fast-growing one, thanks to the evolving threats to cybersecurity. Hackers are improving their ability to infiltrate networks, and business leaders that didn’t consider cybersecurity previously are looking for ways to counter the threat facing them.
For many businesses, outsourced or managed security services are becoming their new reality. While some IT service providers might not formally refer to or categorize themselves as MSSPs, most potential clients aim to partner with service providers that are security-centric.
The good news is that hiring a security-centric MSP comes with a number of key advantages and benefits. For one, these businesses’ security teams will be able to focus on securing strategic projects, leaving the MSSP to manage the security environment, and handle day-to-day security. There are many other benefits that come with hiring a managed security service provider and we discuss some of these in this article.
Constant, real-time monitoring and security
The efforts of MSSPs go beyond a spot check; it is constant. Security-centric MSPs can detect an intrusion while it’s occurring and can also run a penetration test to measure the firewall’s strength.
For organizations with a large amount of proprietary data or personal information, discovering that there was a security breach after it has happened can spell the end of that business. This is one of the reasons why there is so much demand for MSSPs and other security-centric MSPs.
More cost-effective than onsite cybersecurity team
Managing an onsite cybersecurity team comes at a price to the organization. Although many business leaders shy away from putting a price tag on cybersecurity, there’s no denying that revenue generation and budget must be balanced with risk management. There will be no business to protect if there isn’t revenue growth. Similarly, once cybersecurity is absent, it only takes one breach for the brand’s reputation to be damaged forever.
Small-sized and medium-sized businesses can enjoy relief from this plight. Apart from MSSPs being more cost-effective, they can also do the same things that in-house cybersecurity teams are meant to do, more efficiently.
IT staff have more time to manage and optimize operations
It is common for the organization to task IT employees with monitoring and other cybersecurity tasks for in-house teams. This approach is problematic because the team can burn out from the workload and expend a lot of energy to deliver mediocre results. Further, IT employees then often struggle to fulfill common tasks that are part of their primary job description, as they are already stretched thin. In reality, IT personnel are paid to optimize company operations – not necessarily to protect them.
Therefore, hiring a security-centric MSP will reduce the IT team’s workload and allow them the freedom to focus on what they should be doing, without having to worry about the organization’s cybersecurity. This relief for IT teams is arguably one of an MSSP’s greatest benefits.
Faster incident response
Most digitally transformed organizations experience regular attacks, but it’s easy to count this as mere data because the attacks are mostly unsuccessful. However, one successful breach is all it takes to cripple even the most prominent organizations. The positive aspect most of these unsuccessful breaches is that it gives the MSSP ideas for better protection. The MSSP only needs to observe the hacker behavior, and they will gain insight into how to protect the most vulnerable parts of the organizations’ network.
Security-centric MSPs can also respond to a successful intrusion immediately to prevent data from being stolen or lost. Once they have resolved an incident, they use the experience to adapt their operations to the ever-evolving cyber threat landscape.
Ongoing security initiatives
One of the things you are assured of with a security-centric MSP is an ongoing security initiative. Business owners are often haphazard with cybersecurity initiatives. They will react to news of consumer privacy lawsuits or significant security breaches.
However, this approach and seasonally augmenting cybersecurity staff for compliance certifications do not protect the organization from an attack. Task management and ongoing security monitoring are what is needed to get this assurance. MSSPs can offer this for as long as you use their services.
Audit team to meet compliance requirements
Consumer privacy laws change regularly. Constantly backtracking to perform audits required for compliance will be a waste in the absence of a cybersecurity team. It’s hard to meet compliance standards with an on-and-off approach to cybersecurity.
MSSPs can perform these audits upon request and much more, paying attention to recent developments in critical markets with the privacy laws. Security-centric MSPs can also initiate or recommend tasks that your organization needs to achieve compliance quickly.
The role and benefits of a managed security service provider are spelled out. Build a security-centric MSP that is qualified and has the capacity and experience to help secure your client’s operations and network. Some types of cyber threats are peculiar to specific vertical markets. So, your MSP must have experience dealing with cybersecurity in your clients’ industries.
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