MSPs must enhance their cyber services, but how?

In a recent report from N-Able and research firm Canalys, it was revealed that 81 percent of Managed Service Providers (MSPs) expect growth in their cyber security offerings within the next three years. The report stated that cyber security will provide the biggest growth opportunity for MSPs, who will be looking to expand their services beyond the basic detection of attacks.

Cybercrime has become a critical threat to all digital businesses, but very few have the internal resources to keep pace with adversary techniques. Organisations simply don’t have the tools, skills or resources to manage security effectively in house. Unsurprisingly, this has driven them towards MSPs. 

MSPs have been delivering IT and basic security services to these businesses for years, but as cybercrime becomes increasingly sophisticated, and AI continues to innovate for adversaries, the need for more advanced detection, remediation and response is skyrocketing. 

This is a great opportunity for MSPs and it provides the sector with more potential to profit from the $2 trillion cyber security market. 

But the one drawback comes down to internal resources. With an increased need for cyber services from clients, this could place additional strain on MSPs, who are suddenly being relied upon to deliver cyber expertise, without necessarily having the inhouse resources to support the need. 

Plus, as security offerings expand, this introduces new tools into the MSP environment, meaning there are more technologies to learn and more dashboards to navigate across, which potentially burdens resources and drains the time of team members. 

But is there a way to tackle these important challenges? 

Is it possible for MSPs take advantage of the business opportunities cyber has to offer them, without overstraining their own internal resources?

Streamlining security

The increased requirement to deliver enhanced security services provides both and opportunity and challenge for MSPs. 

There is an opportunity to deliver more value to customers, which will in turn positively impact the MSP bottom line. But the challenge all comes down to internal resources. 

Suddenly MSPs are being relied on to provide advanced cyber services, but many don’t have the internal skills or resources to deliver this.  Plus, with the introduction of new tools and dashboards, this adds further strain to teams who will struggle to manage security efficiently across all of their client’s varying platforms. 

To address these challenges, MSPs need to find a partner that not only possesses the technical skills to deliver client security projects, but also to support them as they introduce new security tools into their environment, so they have a more efficient way to manage security for their clients. 

Fortunately, these important goals can be achieved by partnering with dedicated Managed Security Service Providers (MSSPs). 

MSSPs are experts in the field of cyber security and they possess the skills needed to deliver the advanced security services organisations need. Today, MSSPs and MSPs can forge strategic relationships to better serve the security needs of clients. 

When it comes to identifying an MSSP partner, MSPs must look for a business that understands the unique challenges they face and wants to work alongside them to help them grow and better serve their customers. 

The MSSP must be flexible and deliver real value to MSPs, allowing them to purchase the services their clients need, plus offering them tools that allow MSPs to manage and monitor the security of their clients in a more streamlined view. 

For instance, some MSSPs have developed platforms which are specifically designed to cater to the needs of MSPs. Providing the ability to streamline cyber security management, while offering MSPs with the ability to pull all their clients’ security efforts and data into one place, enabling them to easily track, manage and remediate threats. 

These platforms also allow MSPs to easily track and manage security in real-time, which allows them to keep on top of their clients’ security efforts. Additionally, MSPs can view real-time data on penetration testing, vulnerability scans and regulatory compliance and some platforms have a marketplace where MSPs can purchase vital cybersecurity services for their clients, allowing them to tailor their security offerings to better serve their individual clients’ needs. 

MSPs have always been a trusted security partner for organisations, but as cybercrime continues to escalate many businesses today need more specialised defences to keep their critical assets secure. 

These businesses are turning to MSPs to deliver these enhanced services, which provides new revenue opportunities for the industry. But, with few MSPs having dedicated cyber specialists on their teams, this is adding pressure to their businesses.  

Fortunately, MSSPs could be the solution.

By establishing strategic relationships with MSSPs, MSPs can deliver on their client’s new security requirements. This allows them to help improve the cyber defences of their clients, while continuing to deliver the other important IT services their clients continue to rely on them for. Without overburdening resources, while safe in the knowledge their clients’ security is being managed by experts in the field.