The growing threat landscape coupled with a shortage of cybersecurity talent is attracting more organizations to outsourced IT security. Managed security service providers (MSSPs) are becoming part of a sound cybersecurity strategy — especially for organizations with limited budget and in-house support staff.
Global researcher Research and Markets estimates the MSSP market size to grow from $17.02 billion last year to $33.68 billion by 2021. At the same time, PwC found that 62 percent of surveyed companies use cloud-based managed security services for initiatives such as threat intelligence, authentication and real-time monitoring and analytics.
Managed IT services have many advantages. However, no two MSSPs are alike and it’s important to conduct your due diligence before choosing a vendor.
Trends Driving MSSP Market
The scarcity of information security professionals has been growing. Frost & Sullivan estimates that by 2022, the gap will be 1.8 million workers — a 20 percent increase from last year’s forecast.
Clearly, the dial isn’t moving fast enough to attract new generations to the industry. And the underground economy is booming. Better tools are making it easier for bad actors to breach companies regardless of size.
The Benefits of MSSP Outsourcing
Organizations are finding that outsourcing cybersecurity to an MSSP offers benefits beyond just closing the IT security talent gap. These include:
Cost efficiency: There is a reduced operational cost because you can upgrade infrastructure only when needed and operate with a leaner in-house security team.
Expertise: You can access top security talent, yet you don’t have to worry about the challenge of drawing from a small pool of workers.
Compliance: MSSPs typically specialize in specific areas of compliance, and they stay current with new regulations.
Outsourcing may not be for everyone, but if your company is consistently struggling to keep the data secure and the infrastructure current, you should give this option a serious look.
Factors to Consider in Choosing a Provider
When you’re evaluating vendors’ capabilities, ask these key questions:
1. Do you provide an end-to end solution?
Even when point solutions work with each other, they don’t necessarily provide a seamless integration and often issue competing alerts increasing the chance that something will fall through the cracks. Ask potential MSSPs if their solution includes an architecture that provides both comprehensive detection and coordinated defense and intelligence sharing across the enterprise.
2. Do you have the right capabilities?
The provider should have highly trained, highly skilled security professionals with experience in your sector that are consistently being trained on the latest threats and technologies.
3. Does your solution scale?
Even if you’re not using the cloud or integrating IoT devices now, choose a provider that can scale services to protect data outside the network perimeter. A vendor that uses a multi-device management strategy will easily adapt as your needs grow.
4. How do you use threat intelligence?
Threat intelligence is ineffectual if it’s not actionable. Take the time to understand how the MSSP applies threat intelligence to its defense strategy — shared threat intelligence across the entire enterprise mitigates risk faster and more effectively.
A partner of Fortinet and managed security services provider, SpartanTec offers comprehensive security services with advanced, independently validated technology designed to adapt to emerging threats. Contact us to learn how partnering with us for your managed security can help you improve your security posture.