Managed Security: The Partnership Option for MSPs

Even though most end-user organizations wait too long to contract out for managed security services, a growing number of MSPs address their clients’ data security needs by partnering with MSSPs.

According to TechTarget, MSPs are entering these partnerships in an effort to deliver enterprise-level security support. “More and more MSPs are partnering with third parties to offer security as a service to their clients – often because existing clients are clamoring for security offerings that go beyond firewalls and antivirus software. In many cases, these partnerships are helping MSPs and others in the channel stay relevant,” TechTarget reports.

The article goes on to explain how small MSSPs are launching partner programs to get their technology into the market, giving them a chance to capitalize on the expanding global security services market. The market is on track to reach $29.9 billion by 2020, according to Allied Market Research.

In its forecast, Allied predicts that SMBs will lead the adoption of managed security services thanks to its cost-effectiveness. And because of BYOD policies, endpoint security application will be the fastest growing managed security service, with an estimated compound annual growth rate (CAGR) of 24.5 percent.

“Secured Information and Event Management (SIEM), an emerging technology solution suitable for automatic collection, correlation and analysis of log and alert data, would be the next popular application,” Allied predicts.

Work to Do

Clearly, security-focused managed services partnerships couldn’t be more timely. The business world faces a serious challenge posed by cybercrime. “Executives consider incidents of data thefts and cybercrime as the greatest threats to their organization’s reputation,” according to Allied. But the executives recognize they don’t have the budget or skilled IT resources to properly handle security, which is why the managed security model is an attractive option.

Unfortunately, as we saw recently in a Ponemon Institute study, as many as two-thirds of organizations wait until they experience data loss before seeking help from an MSSP. With that in mind, MSPs have their work cut out for them if they stand a chance of capitalizing on the managed security opportunity.

Partnering with managed security specialists isn’t enough. You have to put serious effort into client education to get your customers to understand the need for security and the costs of ignoring this need.

As we discussed in a recent blog about the ransomware threat, education is absolutely critical to fighting cybercrime – not only from the standpoint of recognizing the threat but also teaching users to recognize and avoid the bait hackers users to compromise systems and networks.

However, having the option of partnering with security specialists to deliver a much-needed service is certainly a plus. MSPs that feel their customers could benefit from such a partnership should start investigating potential partners and making decisions on what services to offer. Clients may not understand just how acute the cybercrime issue is, but you do – and you should place yourself in a position to help them.