ShaniaA Managed Security Services Provider is an outsourced third party that can help manage all the security aspects of your business. They can help you respond to any security threats that may harm your company, as well as monitor all your company's systems and security devices.
Managed Security Provider Trends
In our increasingly digital world, the cost of cybercrime is projected to continually increase as well, according to a report published by eSentire, reaching $8 trillion in 2023 and $10.5 trillion by 2025.
Alongside this threat, businesses are also faced with a shortage of cybersecurity professionals. A report published in 2022 by ISACA highlighted that 62% of organizations feel understaffed in terms of cybersecurity professionals, and 60% struggle to hold on to qualified cybersecurity staff.
These challenges show the need for a proactive solution that can help businesses keep their company systems secure. As a result, the managed security services sector is on the rise. According to a report published by GlobalData in 2022, the managed security services market will grow from US$63.6 billion in 2023 to US$87.2 billion in 2026. This is because MSSPs can help businesses tackle these cybersecurity challenges with their specialized support, while not having to worry about hiring a dedicated cybersecurity professional for their company.
What Can Managed Security Services Help You With?
Monitoring and Threat Detection
Managed security service providers can help monitor all your networks and systems to identify suspicious activities, vulnerabilities, and potential threats. This approach allows early detection and response to potential security breaches, preventing them from harming your business processes.
Deploy and Manage Security Software
Security software deployments can be both challenging and time-consuming. By utilizing managed security services, you can take this burden off your shoulders as the provider will help you with the installation, configuration, and updating of your necessary security tools. They guarantee that your systems are up to date and protected from cyber threats.
Threat Response
Managed security service providers can help provide effective threat response in the case of security incidents or breaches. Their team of experts will help you minimize downtime and ensure business continuity by containing the threat and restoring your operations.
Improve Security Posture
Managed security service providers will help you assess your company's current security measures, identify vulnerabilities, and recommend strategies to protect you from cyber-attacks and breaches. You no longer have to worry about hiring a cybersecurity specialist, as you can always consult with your MSSP for advice on how to improve your company's security posture.
How to Get the Most Out of Managed Security Services Provider
Review Your Security Needs Before working together with an MSSP
Before partnering up with an MSSP, you should first assess your organization's security requirements. This includes identifying potential vulnerabilities and checking for your company's compliance needs. Through this process, you will be able to know what to look for in a managed security service provider.
Alignment with Your Needs and Budget
Don't forget to check the provider's Service Level Agreements (SLAs), offerings, and pricing before partnering with them. Make sure that their services and what they offer are in line with your company's needs and budget. We also recommend you ask for a detailed breakdown of their pricing, as sometimes there can be unforeseen costs that you may need to prepare for.
Regular Performance Reviews
Implementing security measures is not just a one-time task; it requires continuous updates and monitoring. Likewise, when working together with a managed service provider, you need to continuously evaluate their performance. This includes assessing their responsiveness, security incidents handling capabilities, and overall effectiveness. Regular performance evaluations help you get an idea of the necessary adjustments you need to make with your provider. This ensures you get the best services from them.
Foster a Partnership Approach
It is important to view your relationship with your MSSP provider as a partnership rather than a transactional arrangement. Do have open communication with your provider about your concerns and insights regarding your systems and operations. This way, they can understand better about your needs and tailor their services accordingly.
Conclusion
To summarize, managed security service providers can be a great help for your company. They help you improve your security posture and give top-quality services to your customers. However, to get the best out of them you need to make sure that the services you are purchasing are in line with your company's needs, and don't forget to regularly assess your MSSP and have an open communication with them regarding your concerns and requirements.
