Four Strong Reasons to Use Managed Security Service Provider (MSSP)
Organizations are increasingly overwhelmed by the challenges posed by cybersecurity, from rising security budgets, regulatory compliance and threat of attack enough to push internal IT teams in many businesses to their limits. Too many challenges to deal with is the main reason most organizations are turning to managed security services providers (MSSP), or security management service providers, to help them overcome this. The challenge of strengthening your people, processes and technology in order to properly secure their intellectual property and data, and stay compliant with cybersecurity regulations can be a daunting task at the best of times, even in the hands of a well-managed IT department. With this in mind, here are the four main reasons I prefer MSSP over in-house security.
Using MSSP Saves You Money
Building, running and maintaining a cybersecurity ecosystem is costly. One reason is that many software-provided solutions require specialized hardware and equipment to run, and usually come with recurring licensing fees. Furthermore, what makes costs increase are the salaries of cybersecurity employees as well as the costs of the training they need to properly utilize new tools and technologies. The beauty of using an MSSP that CFOs love so much in their budgets is that it can displace the capital outlay often required to add new tools with large operational outlays into a predictable and ongoing monthly fee. For a small fee, businesses can leverage an MSSP to provide regular (24/7) security monitoring and protection, providing an immediate return on investment so businesses can make the decision between building cybersecurity capabilities internally and outsourcing to the MSSP. A recent study reported that 46% of MSSP customers cut annual IT costs by 25% or more. Reducing staffing costs is one area in which MSSPs are very popular in terms of providing staff and a wide range of security skills.
MSSP Makes You Focus On Business
For most organizations, security is not just a technical issue, but a business matter and must be managed so that the business and its executives can maintain a sharp focus on the mission of the organization. An organization lives to serve its customers and support its employees in providing value and returns to its shareholders. The need to balance between security needs and business goals has always been a challenge for an organization, even for the largest organization. As attack complexity continues to increase, the importance of defensive capacity has demanded and made it difficult for most organizations grappling with this problem.
MSSP Has Better Tools
Any security professional will tell you that the security tools and technologies they use can result in a large number of everyday actions (logins, uploads, alerts, etc.) and only a fraction of them represent a real threat. In a recent research study, over 31% of those surveyed admitted they ignored warnings because they thought so many of them were false positives, and over 40% felt that the warnings they received lacked actionable information. Further complicating matters, many businesses have up to 20 different cybersecurity technology solutions and more than half of those surveyed use more than six different solutions where the problem with this is that most of these tools are not integrated with each other.
MSSP Helps You Stay Regulatory Compliant
When implementing a cybersecurity program, organizations need to align the program with business needs, understand business risk tolerance, implement ISO, NIST, or CSC controls, establish organizational goals for managing controls and look for ways to improve their cybersecurity posture without undue expenditure. In addition, many organizations also face specific demands from the industry. Retail businesses often must meet PCI DSS compliance requirements, which are complex sets of security rules that cover access management, endpoint protection, and secure development. Healthcare providers must comply with the Health Insurance Portability and Accountability Act (HIPAA) Privacy Regulations and Security Regulations. Companies whose shares are publicly traded must meet Sarbanes-Oxley (SOX) requirements.