Categories Blog Why do you need an Managed Security Services Provider (MSSP)? Post author By Vinith Sengunthar Post date May 22, 2023 Home » Blog » Why do you need an Managed Security Services Provider (MSSP)? Why do you need an Managed Security Services Provider (MSSP)? When you want to get it done right, get it done by people who have been doing it for years. Partnering with cybersecurity experts can bring you a long way to achieving your cybersecurity goals more efficiently than taking everything by yourself. An MSSP can give your business the well-deserved freedom to allocate its time and resources to where they are needed the most. It also gives you the freedom to focus on more important things. Security is a 24x7x365 job that in no way can be fulfilled by IT generalists who are not well-versed in cybersecurity. This is where MSSPs step in. They take up the role of cybersecurity, functioning as a dedicated team for attending to all the cybersecurity needs with an expert approach. Relying on internal staff means expecting a lot of time and capital investment. The cost of security solutions isn’t coming down soon neither is the demand for skilled experts in cybersecurity. The cost of finding and retaining alone is enough to consider MSSP. Through our blog, we will explore why your business needs an external cybersecurity service provider instead of relying on an internal team and resources for cybersecurity posture. Who are MSSPs? MSSPs offer the much-needed expertise, resources, solutions, and guidance to businesses that want to improve their cybersecurity posture without having the budget or team for cybersecurity. They can handle all the everyday and long-term security queries remotely and on-site. They assist organizations to identify and address vulnerabilities in their IT infrastructure and improve their overall cybersecurity posture. They got cloud management systems and security solutions like SIEM, data centers, etc. to fully cater to all your cybersecurity needs on the go without having to find, train and retain cybersecurity professionals that are quite expensive. Why do you need an MSSP? Let us take a look at some of the business advantages that hiring an MSSP may offer you: Solves the challenge of a limited team for cybersecurity There was a shortage of around 3 million cybersecurity positions in 2022. It shows how difficult it is to build a dedicated team for cybersecurity. Businesses often find hiring cybersecurity experts in a highly competitive industry challenging because of the widespread shortage of expertise. Adding to this is the increased cost of hiring cybersecurity experts ranging from $50k to $1 million. Hiring an MSSP can bridge the cybersecurity skills gap by providing a dedicated cybersecurity team that takes charge of all your cybersecurity operations from threat monitoring, detection & response to incident response planning and compliance achievement. Eliminates your reliance on in-house teams In-house teams are often highly composed of IT generalists unable to identify the best security practices that help an organization improve its cybersecurity posture. It leaves their security solutions unfigured and exposed to cyber criminals looking for a way into their defenses. As per research done by Stanford University, human error accounts for 88% of cyber incidents. Attacks orchestrated based on social engineering are one such example of exploitation of lack of awareness on cybersecurity. Therefore by hiring an MSSP, you are already taking 70% of the measures to eliminate human error and reliance on in-house teams. It enables you to engage in vital cybersecurity matters like planning long-term security strategies or identifying and implementing compliance measures. They help you stay compliant in a world where change is a constant. Businesses are already finding it difficult to stay afloat in a highly competitive environment. Making a mark across their customer bases with tight budgets and limited teams is an immediate challenge. It is why cybersecurity is overlooked by businesses, leading them to become a victim of cyber attacks. It can impact a company’s reputation significantly by compromising critical information assets. One of the losses for any business is the heavy fine imposed by regulatory authorities due to non-compliance. It not only damages the reputation but also causes a significant monetary loss. In 2022, the average amount of fines paid by businesses was over $5 million. According to one research report, GDPR fines amounted to around $100 million last year. MSSPs help mitigate the risk of non-compliance by providing a dedicated team of experts who have worked with industry experts and helped them achieve compliance requirements. With MSSPs, businesses can identify and implement the right measures for achieving compliance. They got the tools, expertise, and solutions that are much needed to make your compliance process smoother. MSSPs offer 24×7 incident response According to Security Magazine, every 39 seconds, there is a cyber attack. In a highly volatile business environment, proactive steps against cyber attacks are critical. However, setting up your own Security Operations Centre means high capital investment and taking the trouble of finding and retaining cybersecurity experts. It means making a huge investment in hiring and training and other costs. Identifying and implementing a framework that works best per your use case in monitoring detection and response to threats can be challenging without the right team of experts. It is because most companies have IT generalists who take care of all of their cybersecurity matters. Therefore, in a cyber attack, they are often clueless about what steps to take next and save their organization from losing valuable information assets and compromising their IT systems at the hands of cybercriminals. MSSPs help solve this by providing a dedicated support team for incident response. Give you much-needed guidance and leadership in cybersecurity. We have talked enough about the shortage in cybersecurity skills but the topic rarely addressed is the importance of cybersecurity leadership in an organization. It is critical since it directs policies, procedures, rules, measures, and cybersecurity strategies. One of the major misconceptions is that cybersecurity is a back office job, with organizational leaders having little to no influence in cybersecurity strategies. It simply means that cybersecurity is always an afterthought and considered, only after the discussions and planning of the rest of the business functions. It is why cybersecurity leadership is a must in an organization. But businesses struggle with finding the right cybersecurity leader for their organization. It stands true for organizations that are startups since they have yet not created a considerable impact in the market where organizational structures are yet to solidify. It is where the MSSPs come to the rescue. They offer a virtual CISO service that saves businesses from hiring and retaining a full-time CISO that is not only costly but difficult to find. Organizations can leverage the expertise in cybersecurity leadership to strategize their cybersecurity roadmaps seamlessly and implement long-term solutions to mitigate business risks due to cyber threats. Why do you need SharkStriker as your security services vendor? SharkStriker has a unique approach to cybersecurity that helps solve all the challenges through a range of services that holistically cater to different aspects of cybersecurity. Where other MSSPs are limited in catering to the different cybersecurity needs, SharkStriker’s MSSP partners a one-stop shop service that addresses all the cybersecurity needs through one service. Through a single service, we eliminate the challenge of relying on multiple vendors for fulfilling cybersecurity goals. Our platform is completely open architecture based, meaning that it easily integrates with your current IT infrastructure and lets you gain max ROI across your existing investments. The following are some of the key services that we offer: Cybersecurity-as-a-service This is our enterprise-grade service that holistically caters to businesses’ most important cybersecurity needs through one service as per their budget. As a part of this service, we offer Assess+Implement+Monitor: Complete posture enhancement 24/7 SOC – Your own cybersecurity army AI/ML-based Threat Platform: SIEM/MDR, Threat Intelligence, SOAR 100% vendor agnostic, integrates with your Firewall, Endpoint, EDR, XDR, etc Unlimited Incident Response (Unmetered) Expert-led Proactive Threat Hunting 20+ Real-time Dashboards Vulnerability Assessment & Penetration Testing (VAPT) Security Awareness Training Dark Web Monitoring Compliance friendly reports Multi-tenancy feature and more! Virtual CISO service If you want to save cost and time on hiring and retaining a CISO for your business then we got a service that takes care of all your cybersecurity leadership and expertise needs. Our team provides you with the much-needed CISO-level expert guidance to plan your cybersecurity roadmap. Our vCISO service includes the following things: Governance Risk and Compliance Achievement Cybersecurity Planning, Assessment, and Strategy CISO Leadership Other cybersecurity services CIS-Based Security Posture Audit Vulnerability Assessment and Penetration Testing (VAPT) Incident Response Service Risk and Gap Assessment Implementation Compliance-as-a-service Our holistic service attends to all regulatory and global compliance-specific needs through a team of cyber experts and compliance consultants. We help you identify and implement all security measures as per the applicable compliance. We cover compliances such as GDPR, PCI-DSS, NIST, NESA, HIPAA, ISO27001, and others. 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