Why should organisations work with a Managed Security Service Provider?
[4 minute read]
The risk of a cyber security breach has never been greater. Cybercrime is on the rise globally. Over the last couple of years, governments worldwide have seen an 1885% increase in ransomware attacks, with the healthcare industry facing an increase of 755% alone. And you may have read our recent blog What cyber threat trends and techniques are companies facing? While you may feel prepared to deal with security breaches and attacks, think of how much it would cost your organisation – or did, last time you had one. It’s very difficult for an internal IT team to provide the level of security expertise and services that a Managed Security Service Provider can provide.
There are a number of other reasons why organisations should work with a Managed Security Service Provider (MSSP) across varying managed security services, depending on business needs. They can provide organisations with the resources and expertise necessary to effectively manage their security requirements. A Managed Security Service Provider can also provide organisations with access to the latest security technologies and processes, which can help to keep their systems and data safe. Finally, a Managed Security Service Provider offering 24/7/365 managed security services can help organisations to respond quickly and effectively to security incidents, minimising the impact of any security breaches and getting ahead of cybercriminals.
So, why should businesses work with a Managed Security Service Provider?
Access to resources and expertise:
Security practices and technologies are always evolving; it’s almost impossible for an in-house team to have the time to stay updated on all the latest developments. A Managed Security Service Provider has experts on staff who can customise a security solution to address current challenges and keep clients’ environments secure against future threats.
Managed Security Service Providers can provide organisations with access to the necessary resources and expertise required to manage and secure their cyber security. These resources and expertise are available on demand 24/7/365, allowing the organisation to avoid having to spend large sums of money on hiring and maintaining large security staff.
There are specialised skills that are necessary when it comes to managing a security operation, and it takes time to acquire and develop these skills. As an employee in the IT or compliance team, your time might be taken up by other responsibilities, potentially resulting in a security risk to your organisation, as well as a delay in fixing vulnerabilities.
It is difficult for an organisation to deploy the required security personnel, hardware, and software in a timely and affordable manner. A Managed Security Service Provider can provide the necessary resources to address any security challenges an organisation is facing, whether it’s a small remote office or a multinational corporation.
Advanced Threat Detection/XDR services:
What if you did not have to worry about malware or viruses? A MSSP can ensure these worst-case security scenarios never become a reality by rapidly responding to a cyber security incident and minimising any damage before it’s too late. A Managed Security Service Provider offering a managed Security Operations Centre (SOC) will take care of vulnerability and malware detection, managed detection and response, threat monitoring, incident response, security audits, and much more.
Working with a MSSP, you get all the above, and more, with less effort on your part. A MSSP will also take your security to the next level, offering consultancy and managed security services you may not have considered, enhancing your overall security posture. Working with an MSSP is cost-effective. As a result of automation and scale, costs are minimised while quality is maximised. That’s good news for your already stretched IT budget.
Scalability and cost-effectiveness:
Working with an MSSP will be much cheaper than running your own in-house specialist cyber security department (which you will need to do if you don’t have one already). Rapidly growing companies know that it’s difficult to scale their in-house IT staff quickly enough to keep up with the demands of the business. In fact, the average IT team grows at a rate of just six percent per year. In addition, they know that these IT staff members cost a great deal to hire, train, and retain. A Managed Security Service Provider can provide managed security services on demand, easily and economically since they’ve built their businesses around providing 24/7 security operations coverage and have the structured processes and security experts needed to deliver high-quality services at a lower total cost of ownership.
Time savings:
By outsourcing your security operations centre management responsibilities and other managed security services to a Managed Security Service Provider, you will save time. This is thanks to the specialised skills that are already present within the provider, as well as the infrastructure that has already been set up. This means there will be a shorter turnaround time when dealing with issues, with some security operations centre services being able to neutralise attacks in less than 6 minutes.
Latest security technologies and processes:
Managed Security Service Providers have access to the latest security technologies and processes, which they can make available to their clients. These technologies and processes may include security and vulnerability monitoring, intrusion detection, SIEM (Security Information and Event Management) and log management, threat mining, dark web monitoring, among others.
For organisations to have the ability and visibility to detect threats and mitigate breaches and attacks before any damage is done, the best solution is to outsource cyber security to expert managed security service providers. For complete protection, outsourcing a fully managed 24/7/356 Security Operations Centre (SOC) is key. If you’d like to learn more about how to choose the best managed security services partner for your business, you can download the ebook.
