According to recent reports, Managed Security Service expenditures are set to double to nearly $50 billion by 2023.
As the tech industry continues to mature and cybersecurity skills shortages climb to record highs, many firms are turning to Managed Security Service Providers (or MSSPs) to help shore up internal security gaps. But this is only half the story; the truth is that there are a number of advantages that MSSPs provide over traditional in-house IT departments:
1. Focus on your Core Business
Business executives find that the best thing for their company is to focus their time and resources on what they do best, and leave the technical cybersecurity maintenance to a specialized service provider. While a recent WEF poll shows that CEOs understand that cyber attacks are the number one risk facing businesses, the reality is that the more time devoted to security is less time that could be spent on what truly matters: growing the core business.
By handing over the responsibility to a reputable MSSP, you'll free up time and resources that are better spent delivering value to your clients and investors.
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2. Cost Effective
It's no secret that economies of scale vastly reduce the costs of production. In effect, companies find that by outsourcing their security needs, they are able to attain a comprehensive suite of security services at the price of what it would cost to hire even a single technician.
As IT departments grow larger and more sophisticated, executives are looking to tap into managed solutions as a way to bring costs down while simultaneously increasing their service quality. But the truth is that MSSPs are not simply far cheaper than in-house IT talent, they are also far more skilled. Which brings us to our next point:
3. Superior Protection
MSSPs are able to maintain the highest levels of preparedness by continuously investing in their cybersecurity teams, equipment, and knowledge. Accordingly, an MSSP is able to grow their highly-specialised expertise and capabilities in a way that is simply impossible for an in-house team to rival.
For example, Silent Breach maintains cutting-edge security technologies that have been tested across many organizations in diverse geographies handling a variety of threats. Furthermore, services continue to evolve, and now include endpoint protection, AI-driven vulnerability scans, logging, monitoring and configuration management, dark web monitoring, continuous monitoring and incident response to name just a few. And now, for a fraction of the cost, any company can leverage this expertise for their own needs.
4. Ensure Proper Compliance
As the regulatory environment around data and software continues to tighten, it is becoming increasingly difficult to maintain and demonstrate compliance. GDPR and the California Consumer Privacy Act are only the latest legal frameworks to emerge, but any MSSP worth its salt will also provide expertise around PCI DSS, GLBA, SOX, HIPAA, FISMA, ISO, and others.
In fact, unlike many MSSPs, Silent Breach offers a Badge Program wherein clients are issued a verifiable badge which they can display on their website, signaling to customers and investors alike that they are certifiably secure.
Hiring an employee is an expensive and lengthy process. It often takes up to 6 months from the moment that the personnel need is noticed until the seat is filled. Add another 6 months when it's an executive position (such as a CISO). With managed services, however, the upgrade is nearly instantaneous and can even be reversed once the increased security need passes.
For this reason, it's very popular for firms to upgrade their security package for an initial product launch or high profile campaign, and then scale back down once things are running smoothly.
6. Service Level Agreement
While your own employees go home at the end of the day, an MSSP will have a Security Operating Centre (or SOC) that operates 24/7/365. At Silent Breach, we've recently opened an additional Singapore-based SOC to ensure around-the-clock monitoring for threats originating anywhere in the world.
Taking all of these points together, it's clear why MSSPs will only continue to grow in popularity. They provide affordable 24/7 security solutions that are tailored to your needs, leveraging the best tech and talent in the business, so that you can focus on the things that matter most.
About Silent Breach: Silent Breach is an award-winning provider of cyber security services. Our global team provides cutting-edge insights and expertise across the Data Center, Enterprise, SME, Retail, Government, Finance, Education, Automotive, Hospitality, Healthcare and IoT industries.