Most people get confused between a Managed Security Service Provider (MSSP) and Managed Service Provider (MSP). An MSSP provides security services to organizations. They make sure that organizations, systems, and end-users are secure and safe. MSSP will also help you in meeting the necessary compliance requirements. They have been helping the organizations since the “dot.com era”. But, they are gaining more attention now because cybersecurity is evolving at a rapid rate. Now, organizations are more aware of cyber threats and their consequences.
According to Accenture, organizations are going to lose over $5 trillion in the next 5 years due to cyber attacks. Hackers are using ransomware attacks to lock business data. This is causing huge damages to businesses. Even big organizations have some loopholes in their security systems. If you are not taking enough precautions, then these threats can destroy your whole business. Hacking attacks can cost you millions of dollars. It will also do irreparable damage to your company’s reputation. MSSPs can help you in managing these threats. If you are hiring an MSSP, then your in-house IT team can focus on more strategic security projects. Your MSSP will monitor your whole network and also manage your security environment. Below are the top 6 benefits that MSSP offers:
MSSPs use advanced security techniques that they have already tested on dozens of organizations. They know how to handle various security threats. The MSSPs are also evolving with time. Now, they are offering services like monitoring, configuration management, firewall management, vulnerability scans, web application monitoring, and endpoint protection. Most of the MSSPs are using advanced technologies like artificial intelligence and machine learning.
According to a global survey, more than 23% of the companies are thinking to hire an MSSP. They don’t have good technology or team to deal with security issues. MSSPs offer superior protection to their clients. They are constantly updating themselves with new security threats. Thus, MSSPs can quickly detect threats in your system. In most of cases, managed service security providers are more effective at securing companies when compared to in-house IT teams. Most of the MSSPs also offer SLAs or service level agreements. They will guarantee you full assistance in the event of any incident.
Better IT performance
If you are hiring MSSP, then your IT team doesn’t need to worry about monitoring your systems. Thus, they can focus entirely on your software, hardware and maintenance needs. Most of the security threats can be time-consuming. They can also cause huge damage to the organization. It is difficult to manage both your tech-related tasks and security tasks. Hence, you should consider hiring a professionally managed security service provider.
Managed security service providers will offer you a team of professional security experts at a very low cost. It is costly to hire professional security experts in your IT team. Also, you need to buy various expensive security solutions and technologies. Security professionals who do penetration testing get a salary of about $75-100k. Thus, it can be very expensive to hire these security experts. You need to invest about $500k per year on every security professional. Also, you need expensive security tools and payroll which can double the initial cost.
You can get all these services at a very low cost by hiring a professional MSSP. According to a report by CompTIA, you can cut down your annual cost by up to 25% by hiring an MSSP. If you are a small company, then MSSP will provide you access to technology and expertise which would have been impossible to build-in the house. You can save up to $450k per year by hiring a professional MSSP.
An MSSP has access to all the professional security tools. Thus, they can use these professional tools to protect your organizations from different threats. They will provide anti-virus protection, threat management, network connection management, vulnerability scanning, real-time monitoring, and security compliance. You can’t get such a level of management with limited staff.
Regular vulnerability scans are very important for any organization. The best thing about working with MSSP is that they will provide you both external and internal scans of your IT network. They will scan your databases, web applications and hosts for vulnerabilities. MSSPs use automated vulnerability scanners to scan your whole network.
The MSSP will also offer you vulnerabilities, patches, configuration changes, policy compliance, and hardening. They will provide you informative reports and interactive dashboards. Most of the MSSPs will also check your vulnerability scans before sending it to you. They will make sure that the results are without any false positives.
There are various industry regulations and standards that organizations need to follow. Thus, security has grown into a full-time business. If you are storing confidential information like financial data or health information, then you need to follow all the regulatory requirements. MSSPs have a professional staff that will make sure that all their clients are meeting the necessary regulations. They will also help you in maintaining security and mitigating risks.
MSSPs provide various benefits like cost-saving, superior protection, better IT performance, and advanced technology to organizations. They will make sure that your organization is protected from outside threats. MSSPs will use well tested, proven and integrated technology for protecting your organization. More than 60% of small businesses go bankrupt after a security breach. If you are outsourcing your security, then your IT department can focus on more strategic security projects. Your MSSP will focus on monitoring your network and scanning for vulnerabilities. More and more security threats are emerging every day. Thus, it is very important to have a good security team. If you don’t have a good security in-house team, then you must consider hiring an MSSP.