In today’s digitally interoperable world, the threat landscape has become increasingly dynamic and complex. As businesses continue to expand under the pressure of escalating cyber threats, the demand for robust cybersecurity measures has never been so high, leading to a significant expansion in related services.
Managed cybersecurity services have emerged as one of the main services on which organizations depend for protection regarding their data, infrastructure, and applications amidst a race with cybercrime.
In this article, we’ll explore the key aspects of managed cybersecurity services, covering their benefits, risks, alternatives, cost considerations, and essential criteria for selecting the right provider.
What are managed cybersecurity services?
Managed cybersecurity services are basically security solutions offered by third-party companies, mostly known as Managed Security Service Providers or MSSPs.
These vendors take up all the responsibilities of organization security functions, right from monitoring, threat detection, incident response, and vulnerability management to compliance reporting, among others.
Unlike in-house security teams, which may be stretched thin, MSSPs focus exclusively on continuous system monitoring for vulnerabilities and threats. Because of this, they can offer protection and support 24/7. Typically, managed cybersecurity services are delivered remotely and can be from small business applications through to large enterprise applications.
The most commonly used services that can be introduced by MSSPs are the following:
- Security Information and Event Management (SIEM): Real-time monitoring and analysis of security alerts generated by applications and network hardware.
- Intrusion Detection and Prevention Systems (IDPS): Monitoring network traffic for malicious activity and potential threats, blocking intrusions in real-time.
- Vulnerability management: Identifying, prioritizing, and remediating vulnerabilities in software, hardware, and network systems.
- Managed Detection and Response (MDR): Active threat hunting, identification, and quick response to minimize damage.
- Compliance management: Assisting businesses in meeting regulatory requirements such as GDPR, HIPAA, or PCI-DSS.
The benefits of procuring managed cybersecurity services
1. 24/7 monitoring and quick response
Since cyberattacks can strike at any time, no organization, irrespective of its size, is able to consider continuous monitoring an option.
MSSPs provide 24/7 security oversight—necessary for any fast-moving organization interested in making sure emerging threats are confronted and dealt with before they can cause considerable damage. This should reduce the mean time from detection to response, minimizing risks that come with extended system compromises.
2. Cost efficiency
Hiring, training, and retaining a world-class cybersecurity in-house team is extremely expensive. Subscription-based services, such as managed cybersecurity services, give businesses the expertise that a fully manned, highly skilled security team would provide without all the heavy overhead costs.
This subscription-based service enables companies to scale cybersecurity efforts in line with their budget without large upfront investments in infrastructure and people.
3. Access to expertise and advanced tools
Since MSSPs are staffed with security professionals who stay abreast of recent threats and cybersecurity evolvements, they have access to more sophisticated tools and technologies than one would otherwise have.
This provides businesses with leading-edge security solutions that are capable, for example, of finding and neutralizing threats in a much quicker way.
4. Scalability
As your organization grows, so do your cybersecurity needs. Services can scale with business growth, whether it’s new applications, increased network traffic, or entry into new geographic regions.
MSSPs can, in fact, adapt quickly to meet such increased demand without the extended lead times usually associated with the evolution of an in-house security team.
5. Legal compliance
As more and more regulations are enforced on data privacy and security, the challenge is to remain compliant with these regulations.
MSSPs support companies in complex regulatory environments by ensuring that their cybersecurity practices comply with relevant industry standards and various legal requirements, secure all relevant documentation and reports, and are audit-ready.
Not always a perfect fit: The risks of managed cybersecurity services
While managed cybersecurity services ensure many benefits, they also entail their share of risks. It is good to know about the possible downsides and weigh them up with the appropriate available alternatives.
1. Loss of control
When outsourcing your cybersecurity to an MSSP, you inherently give away some amount of control over your security practices.
An MSSP works within your organization and in close collaboration, but decisions regarding the security configuration, process, and incident response lie with a third party. This can generate concerns about how quickly incidents are dealt with and how effectively this is done.
2. Vendor lock-in
Most of the MSSPs offer proprietary solutions that cause vendor lock-in. When companies change their providers and sometimes decide to bring the services in-house, it is problematic to switch into other systems due to lack of interoperability, costly processes for data migration, and contractual restrictions.
3. Limited customization
Other MSPs sell packages, and those can become standardized to such a degree that they might not fit an organization’s needs. This could leave wide critical gaps in their security coverage for companies with very specialized industries or unique IT infrastructures.
4. Data breaches can still happen
While MSSPs typically go to extremes to enhance security, they are not beyond breaching. In that case, a successful cyberattack on an MSSP could relate sensitive data of customers or compromise the security postures of several clients. In view of this fact, it becomes important to take it into consideration while choosing an accurate and secure provider.
Alternatives to managed cybersecurity services
In-house security team
These are companies that operate cybersecurity in-house. An in-house security team is composed of experts who are supposed to monitor and protect the systems.
As much as this may provide full control, it is an area that requires massive investment in personnel, infrastructure, and continuous training to enhance their human capital in order to keep pace with changing threats.
Co-managed security services
It’s a hybrid where the organization still focuses on building an in-house team while outsourcing specific tasks around security—an incident response or monitoring—to an MSSP. This will create a good balance between control and expertise.
Security tools based in the cloud
An organization can use cloud-based tools depending on needs like identity management, threat intelligence, and SIEM. Many of these tools are, in fact, subscription-based and allow a company to keep operations in-house but still have access to advanced technology.
How does pricing work for managed cybersecurity services?
Considering the cost is an interesting topic, as there are many factors that control the cost of such services. These include organization size, infrastructure complexity, and the level of the services to be provided. Here are some general costs to consider:
1. Extent of services
The price will vary with the comprehensiveness of the service. Basic packages may include monitoring and alerting, while more advanced packages offer full incident response, forensics, and remediation. Other services might involve compliance management or even custom reports for an added fee.
2. Number of endpoints
Most MSSPs base their pricing model on the number of devices, servers, or endpoints they need to monitor. As organizations get larger and have more devices, the cost increases. It’s essential to determine the right security requirements and pay for exactly what you need.
3. Service Level Agreements (SLAs)
The SLAs vary on many factors, including response times and uptime guarantees, from different providers. In general, the higher the level of service, the higher the cost is; it is therefore important to ensure that the SLA matches the company’s risk tolerance and requirements.
4. Customization and integration
Companies with complex IT environments or those requiring bespoke solutions also tend to contribute more when it comes to customization. Some existing tools or platforms might require significant effort to integrate with managed cybersecurity services, resulting in additional costs.
Key criteria for choosing a managed cybersecurity services provider
With a vast number of providers in the market, choosing the right MSSP is very daunting. However, businesses can easily narrow down the options to best fit their needs by focusing on just a few key criteria.
1. Track record/reputation
Select a supplier with market recognition and relevant experience in your industry. The vendor needs to have a good reputation for preventing and mitigating cyber threats.
Consider its performance through customer testimonials, case studies, and other forms of validation, such as ISO 27001 or SOC 2 compliance.
2. Scope of services
The MSSP must be able to provide a wide range of services likely to be required by your organization.
From comprehensive cybersecurity management services to MDR and even vulnerability assessments, the provider must have the skills required to deliver these services.
3. Technology stack
The efficiency of any MSSP relies on its tools and technologies. They should use frontline, AI-based threat detection, automation, and incident response capabilities.
Question potential suppliers about the partnerships they have with best-of-breed technology providers and the integrations already in place for your existing set of systems.
4. Customization and flexibility
Businesses are not equally created, and companies don’t all have to use the same methods.
Select a provider who is flexible enough to adapt its services to your evolving requirements. An MSSP should be able to adapt to your company’s growth or expansion, or even to technology migration.
5. Transparency and communication
Effective communication is a prerequisite for any partnership.
The MSSP should make sure that they clearly state everything, update, and report to you on your security posture, incidents, and fixes. They should be transparent with regard to their processes and methodologies so that you can know what is going on with your security operations.
6. Incident response capabilities
Finally, one particular differentiator is speed—how quickly the MSSP reacts and responds in the event of an incident.
Consider their response times and procedures against your organization’s risk profile and compliance requirements.
Final thoughts
Managed cybersecurity services essentially add considerable value to organizations by improving their security posture without the heavy investment that would have been required to set up an in-house team.
By offering around-the-clock monitoring, cost efficiency, and access to different cutting-edge tools and expertise, MSSPs offer peace of mind in a world where cyberthreats are continuously changing. But these are decisions that need to be made very cautiously, considering the risks and costs involved, besides the alternatives available.
Understanding the key selection criteria of an MSSP will help an organization find a provider that fits their particular needs and keeps them secure against ever-growing cyber challenges.
