Organisations are increasingly using managed security services providers due to growing cybersecurity concerns, the rising numbers of cyberattacks and the need for specialist IT security resources. By partnering with managed security services providers, organisations that don’t have the resources to staff a robust IT security team can still access full-time support and tools to defend their systems from cyberattacks.
The managed security services provider market is anticipated to grow up to 15 per cent in the next five years with many new providers entering the market.¹ While there is a broad range of managed IT services providers to choose from, organisations must consider three things before seeking and engaging a security provider.
1. Best value for money
The lowest-cost provider is not necessarily the partner that offers the best value for your needs. While there are many competitive players in the market, be wary of managed security services providers that offer deals that seem too good to be true. Your investment in a managed security services provider should ideally reflect your level of organisational risk.
Savings come from your provider reducing the cost and drain on internal IT resources for cybersecurity management. For a predictable and affordable monthly cost, managed security services providers help to reduce the organisation’s need for capital expenditure in technology and the expense of full-time dedicated cybersecurity teams. By offering 24/7 support, a managed security services provider also reduces the cost of data breaches through fast response to any potential cyberattacks.
2. Tools they use to protect the organisation and how they remediate issues
Are the tools your provider uses the right fit for your organisation? How will they complement and interact smoothly with your existing systems? If the tools your proposed managed security services provider uses are the right fit for your organisation, make sure they can scale with the business, particularly when agility is needed in volatile business environments. Also, consider the provider’s approach for data management and disaster recovery when a cyberattack occurs. How quickly can they respond and what steps do they normally take to remediate issues caused by a data breach?
3. How they conduct reporting
Visibility and transparency between the managed security services provider and your organisation are crucial to maintaining a strong security posture. Without effective communication around results, it can be difficult to understand the value your provider brings to your business, and whether there are any additional steps you could be taking as an organisation to better protect your assets and information.
Ensure your security provider can deliver consistent and frequent data analysis and reporting that can be easily understood and used across your organisation. This includes providing reporting and information in ways that can be easily understood by executives and key stakeholders and aren’t full of technical jargon. It’s critical to partner with a provider that helps your organisation understand and take the correct next steps to protect your data.
Partnering with a managed security services provider can benefit companies of all sizes. Engaging a managed IT services provider facilitates ready access to high-quality cybersecurity solutions and support for a reduced cost, which is increasingly attractive for under-resourced businesses that can’t staff a full-time IT security team internally.
For more information on how working with the right managed security services provider can help secure your business, contact Blue Connections today, or download our latest tip sheet to learn six benefits you can expect from engaging the support of a managed security services provider.