Managed Security

Managed security services were born from the necessity of all businesses to protect themselves against cyberattacks while contending with a threat landscape that is constantly changing. It is also a necessity due to the increasing costs of preventing cybercrime and the high costs associated with successful attacks. According to McAfee, losses to global cybercrime have exceeded $1 trillion, up 50% from 2018.

 

Currently, there aren’t enough cybersecurity professionals available to fully staff security teams at every company. That gap is also widening. In 2019, there were almost 3 million vacant cybersecurity jobs across the world.

 

Those professionals who are available for work are often hired by larger companies that can offer higher paying salaries and better benefits. This leaves smaller companies to fend for themselves, relying on consumer-oriented security systems and their overstretched IT staff to keep their systems and data safe.

 

This is especially problematic given that cyberattacks on smaller organizations are much more common than many believe. According to Security Magazine, 67% of companies with fewer than 1,000 employees have experienced a cyberattack and 60% of small businesses could go out of business due to damages associated with a cyberattack.

 

Most organizations don’t have the funds to maintain state-of-the-art security operations in-house, so they look outside for help. Originally, they turned to managed service providers (MSPs), which offered a range of IT services but didn’t necessarily specialize in security.

 

Now, managed security service providers (MSSPs) fill that role, providing comprehensive security features to business clients that would otherwise not be able to secure their networks.

MSSPs are network security service companies that serve other businesses on a contract basis. As outsourced security professionals, you hire an MSSP the same way you might hire a market agency. They aren’t your employees, but they serve your company as per the terms of your contract.

 

Most MSSPs serve as fractional augmentations to your own IT staff. But they also serve small businesses that don’t have a formal IT department but still need network security.

 

MSSPs provide their clients with technology, manpower, and expertise that are difficult to find or afford when security is brought in-house. MSSPs deploy, configure, and maintain security technologies like intrusion protection systems (IPS), anti-virus programs, firewalls, and more. In the event of an incident, an MSSP can respond quickly or help the company develop a plan so they can respond internally.

 

MSSPs may offer a broad range of services, or they may be hired to work on a specific security issue. For example, MSSPs can provide direct training to company personnel to help them prevent cyberattacks. They may help in designing password protocols, building structures of access to sensitive data, and doing other types of security training.

 

Finally, an MSSP can provide the company with comprehensive security reporting through 24/7 monitoring of the network. They can audit the company’s security infrastructure regularly and ensure they are compliant with relevant industry regulations.