Cybersecurity is one of the top issues that businesses of all sizes worry about. Since hackers don’t discriminate, it’s imperative to implement high-quality cybersecurity measures regardless of the type of data you work with. If you have digital data, you are a target.
In the next five years, the number of cyberattacks is expected to surge. If you don’t prepare for the possibility, your company could lose valuable data, hinder its reputation, or even go bankrupt.
Not too many SMBs have the time and resources to build an in-house cybersecurity team. Meanwhile, delegating security tasks to other team members is counterproductive. That’s where managed security services providers come in.
These companies take care of all of your cybersecurity needs for a fraction of the price you would pay for an in-house team. Even large enterprises are considering this outsourcing option since it saves them time and money.
Let’s take a closer look at the main benefits of using a managed security service provider (MSSP).
What Does a Managed Security Service Provider Do?
When you decide to outsource security to an MSSP, you can expect the company to provide a number of important services, including:
One of the most important services provided by MSSP is a managed firewall. Besides helping you install the right software, the service provider monitors the firewall and responds to any potential threat.
With an expert checking the system 24/7, your chances of avoiding a cyberattack are the highest. The information MSSP receives from monitoring your systems can be used to design a better cybersecurity plan.
High levels of network protection may still have minor loopholes for hackers to take advantage of. Since cybercriminals are constantly developing new methods, it’s imperative to implement the newest threat detection practices.
An MSSP protects your devices and systems to make sure they are fully secured. They also monitor the system closely to discover any potential threat and react accordingly.
If you are using a virtual private network (VPN), you need a security expert to configure it properly. Otherwise, instead of protecting your data, it can turn into an entryway for cybercriminals.
An MSSP can tune the network to suit your cybersecurity needs so it can reduce the number of attacks without slowing down your business operations. They can also set up authorization protocols so that only certain users have access to the network.
An MSSP evaluates the level of your cybersecurity measures to identify problems and strengthen weak points. They can either adjust the existing protocols or create new ones to ensure the highest level of security.
The service provider scans your network for vulnerabilities to make sure all security measures work perfectly.
To ensure top security for your data, you need to take advantage of efficient antiviral software. MSSPs evaluate your current tools and give recommendations about the necessary adjustments.
They also monitor security software for updates to make sure you don’t create any unnecessary loopholes for cybercriminals by forgetting to update your tools.
If your industry requires security compliance, MSSPs make sure that all of your tools and procedures meet the requirements.
Whether you are working with patient records or dealing with credit card numbers, MSSPs can make suggestions about software and procedures that keep you compliant.
Benefits of Using a Managed Security Service Provider
The demand for reliable MSSPs is rapidly increasing. By 2025, the global managed security services market is expected to reach $49.6 billion.
Hiring a managed security service provider can help you ensure top security measures and prevent cyberattacks from hurting your business. The main benefits of working with MSSP include:
1. Round-the-Clock Monitoring
Cybercriminals work around the clock. In fact, many ransomware and other types of attacks happen during the off-hours. Monitoring systems and networks at all times is necessary for many businesses. A missed attack during the night could cause significant downtime.
According to the report by IT Companies Network, MSSPs can arrange 24/7 monitoring of your systems to catch the attack the second it occurs. This maximizes the chances of a breach being successful. A quick reaction to the attack could prevent consequences and allow your business to function as usual.
2. Experienced Specialists
The scope of tasks related to cybersecurity is tremendous. As cybercrimes become more and more sophisticated, cybersecurity specialists need to possess highly varied skill sets. One person may specialize in anti-virus software while another manages cloud security.
Hiring an entire team of security specialists can be costly. That’s why outsourcing the task to an MSSP is an excellent solution. You get an opportunity to work with a large team of specialists, who can take care of various cybersecurity requirements of your organization.
3. Scaling and Growth
As your company grows, so do its cybersecurity needs. While you are busy branching out or scaling your organization, you need to take care of new compliance requirements, a growing number of users, new types of data, and many other nuances.
All of the above requires a comprehensive approach to cybersecurity, which is hard to arrange in-house. When you hire a managed security service provider, you start working with a sizable team that can adjust to your growing business needs.
You don’t have to worry about hiring new team members or expanding your IT department. You simply need to communicate your new needs to the MSSP.
One of the key reasons why the popularity of MSSP is growing is the cost-effectiveness of managed support services. When you hire several specialists for your in-house team, you need to think about paying salaries, covering benefits, arranging training, and much more.
Meanwhile, amidst the Great Resignation, the money you invest in recruiting, training, and retaining an employee doesn’t always pay off. Replacing one employee can cost twice their annual salary. This isn’t something many small businesses can afford.
When you work with an MSSP, you don’t have to worry about any HR-related matters. You hire a company that provides all the necessary services. Meanwhile, MSSP contractors can work with your internal team to achieve the necessary goals.
5. Fast Response
When a cyberattack happens, time is an issue. Responding to the threat immediately can help prevent unfortunate consequences and keep your data safe. MSSPs can arrange fast responses by monitoring your systems closely.
As soon as an attack occurs, they can counter the problem and save your data and reputation. To do that, these specialists don’t have to be on-site. However, if some on-site issues arise, they can arrive quickly.
6. Top Security Solutions
Acquiring expensive security software may be out of reach for some businesses. MSSPs often purchase subscriptions for clients and get in-bulk discounts. As a result, you gain excess to top cybersecurity solutions that you may not afford otherwise.
MSSPs spend a significant amount of time researching the latest cybersecurity software. The solutions they use are usually the best available on the market.
Opting for an MSSPs solution can minimize the learning curve and improve the integration process. Since these specialists already know how to handle this software, implementation proceeds smoothly.
7. Proactive Protection
Besides evaluating your current cybersecurity measures and implementing the latest solutions, MSSPs take a proactive approach to protecting your company. These specialists monitor the latest security threats and cybersecurity trends.
When something new appears, they react immediately by implementing new measures or suggesting better solutions. You don’t have to spend time and money on following the latest cybersecurity news. MSSP does this for you.
8. Compliance Management
Staying compliant with your industry’s requirements is a time-consuming process that requires a comprehensive approach to new regulations. Even if you are fully compliant right now, new requirements could cause you to change the entire system.
MSSPs handle the compliance process. The outsourcing partner evaluates your current compliance measures, monitors new developments, and adjusts security protocols accordingly.
With these experts, you don’t have to worry about fines, reputation issues, or downtime problems.
9. Employee Training
The main reason why the majority of cyberattacks are successful is human error. They occur when employees set simple passwords, share login information, download attachments, and click phishing links.
Arranging cybersecurity training for your workforce is a major step toward improving your security measures. If you choose to work with an MSSP, they can educate your employees about preventive cybersecurity measures and tell them how to react to an attack if it happens.
An educated workforce is an essential part of strong cybersecurity. Working side by side with an experienced security team can help your employees learn.
Managed security service providers can help protect your company from cybersecurity threats, work out a strong disaster recovery plan, provide top security solutions, arrange 24/7 system monitoring, and much more.
You get a wide variety of services from the best specialists for a fraction of the price of hiring an in-house team. If you aren’t sure that your cybersecurity measures are in top shape, such a partnership can prove to be highly effective.
(Disclaimer: Devdiscourse’s journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)