6 Key Benefits of Partnering with a Managed Security Service Provider

6 Key Benefits of Partnering with a Managed Security Service Provider

Published 13/04/23

In this blog, previously written by our cyber security partner, Chorus, we cover the top reasons why businesses should consider leveraging a managed security service provider (MSSP).

Cyberattacks – rising in numbers and sophistication

Cybercriminals are becoming increasingly more sophisticated. Not only are they changing who and what they target, they are affecting organisations in different ways using attack methods adapted for different security systems. Adding to this challenge are rapidly evolving workplace requirements as the pandemic continues – shifting an attack surface expanded by employees who use an array of IoT, mobile, cloud, and internet-enabled devices. This, combined with advancing technology, widens the playing field even further for attackers who have breached 39% of UK businesses and 26% of charities in the last 12 months alone.

As a result, the average cost of all UK cyber security breaches in the past 12 months reached £8,460. Aside from severe financial damage, cyberattacks can lead to business continuity disruption, loss of competitive advantage, heavy regulatory fines, and reputational damage that can be hard to recover from. Information risk management has never been more important.

Cut costs and improve your security posture with a cyber security provider

Many organisations understand the importance of protecting their business and their data from cyberattacks. However, it is becoming increasingly challenging to counter attacks without help. In fact, only 35% of UK businesses are deploying security monitoring tools, down from 40% last year. Part of this is because of the sheer scale of the time, effort, and skills needed for internal security teams to detect and address advanced threats 24/7 – even the resources required to monitor and secure critical assets alone can be staggering. It’s no wonder that 75% of security teams have more work stress than they did just two years ago.

Partnering with a managed security service provider (MSSP) can relieve this burden. Knowing your business is covered round the clock by qualified experts at a fraction of the cost of hiring in-house could be the difference between freeing up time and budget to focus on driving business growth – and losing out to cyber criminals. Especially amidst an ongoing resource shortage that predicts 3.5 million unfilled cybersecurity jobs globally this year.

Aside from helping you prevent, detect, and respond to evolving threats, here are six key benefits of working with a cyber security provider.

Improved Cybersecurity Posture

Your systems and networks are monitored 24/7 using advanced security techniques such as predictive analytics, to detect and prevent advanced threats. Application vulnerability monitoring, endpoint protection, and firewall management are some of the solutions that may be applied, along with security tools such as Microsoft 365 and Azure Sentinel that delivers threat intelligence to monitor and detect the latest cyber threats including such as advanced malware and Advanced Persistent Threats (APT).

Vulnerability Assessment

Receive effective guidance when it comes to assessing your organisations cyber security posture, starting with identifying vulnerabilities that cybercriminals use to access your systems, data, and networks. With a cyber security partner, a comprehensive cyber risk assessment and internal audit is performed across your network, resulting in an action plan that addresses the key areas of risk.

 Cost Effective CSOC

Ongoing cyber security management requires a Cyber Security Operations Centre (CSOC) to centrally monitor, investigate, remediate, and hunt for cyber attacks. A CSOC can vary in scale but at its core combines people, processes, and technologies, which is an expensive investment for organisations. Instead, many choose to partner with an MSSP that has an established CSOC in place, providing an advanced CSOC at a fraction of the cost. This can be 24/7 or even a hybrid CSOC to provide out-of-hours support or complement an internal security team to give rapid scale.

Dedicated Support

Partnering with a cybersecurity provider removes the need to worry about recruiting and training. Instead, your business is supported by dedicated security experts who are familiar with a diversified security landscape, and who understand the latest trends – minus the overhead expenses. When a cyberattack occurs, having a provider gives you unmatched experience in crisis handling with the ability to quickly assess and recommend specific actions to prevent further damage.

Cybersecurity Training

Employees are often the most vulnerable link in your organisation’s security. Partnering with the right security expert can enable you to provide staff training with a well-developed program that’s based on the latest cybersecurity trends. Help your employees gain awareness of cyber threats endangering your organisation’s data, network, and assets.

Reduced Regulatory Risks

GDPR, HIPPA, and CCPA are just some of the data regulations every business must now comply with. Failure to do so can result in hefty fines, in addition to the damages caused by a data breach. With the right cybersecurity partner your organisation can stay compliant, by upgrading infrastructures to meet the required standards.

With increasing numbers and sophistication of cyber attacks, your business needs a more proactive approach to cyber security management. But the ability to rapidly identify and prevent cyber threats comes at a great cost when attempting to do this in-house. For many organisations, this is where partnering with a cyber security provider comes into play, enabling the business to remain one step ahead of rapidly changing threats in an ever-evolving workplace.

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