4 reasons why Managed Security Services Providers (MSSPs) have become an increasingly popular solution for businesses looking to secure their environments.
Many businesses are confronted with industry- specific challenges. Retail businesses need to meet PCI DSS and healthcare providers must meet HIPAA requirements. Plus, in New York State the newly passed SHIELD Act requires that a company give notice to the Attorney General in the event of a breach.
Quality MSSPs help businesses tailor their cybersecurity program to meet the unique compliance requirements and risks specific to their industry.
Building an information security program, putting controls in place, measuring those controls against a standard, and managing vulnerabilities require specialized technical skills with advanced certifications. By tailoring cybersecurity services to the top risks and compliance needs, MSSPs maximize return on protection while addressing the most pressing risks and needs.
The amount of security tools and vendors in the market is overwhelming. The wrong combination of tools can lead to data silos and ineffective protection, detection, and response capabilities. Managed security services providers have integrated solutions that leverage best-of-breed technology that have been unified over time and deployed to companies of all shapes and sizes. More importantly, MSSPs establish partnerships with key vendors and can pass cost savings and enhanced support options onto the customer.
In addition, MSSPs are constantly evolving their services to include new capabilities that combat emerging threats and protect information no matter where it’s stored.
For most organizations, cost is the most important factor when it comes to making an investment in their security. In the world we live in today, it is equally important to consider the cost if you don’t invest in security. iV4 has seen incident response remediation costs from thousands to hundreds of thousands of dollars and that doesn’t include the losses associated with downtime.
On top of remediation costs, hiring and retaining security staff is a major challenge. An entry level security team member with their CISSP has a starting salary at roughly $85,000, not including benefits and other overhead costs. When you partner with an MSSP they bear the responsibility of maintaining security talent, and you benefit from their expertise. Working with an MSSP also allows you to adopt an OPEX model and significantly lowers the chances of a security breach.
We always say- the cost of remediation far exceeds the cost of protection.
Partnering with a managed security services provider enables executives to change focus from the fear of a security breach back to core business goals. With a comprehensive program in place, security becomes measurable giving you a mechanism to report back to top execs on the state of cybersecurity and make your case for additional investments.
Related post: Characteristics of a Solid Cybersecurity Provider
As an MSSP, iV4's Cybersecurity Services lead to a reduction in overall organizational risk by continuously monitoring and analyzing your security posture.