It’s imperative that MSPs offer the services their clients want.
The problem is—especially with regard to cybersecurity—what clients want and need is changing. SMBs know they need more than basic tools to protect their ever-growing threat surface from increasingly sophisticated cyberattacks. Their IT budgets, however, have largely remained the same.
For MSPs, this shift represents a major challenge and an equally major opportunity. Providers who upgrade their managed security service to offer the more comprehensive protection SMBs want will find it easier to retain clients and attract new ones.
Within cybersecurity, managed services will see the fastest growth rates and the most significant return on investment for channel organizations. In fact, the projected revenue growth for MSPs from 2021 to 2024 is 29%, an even higher figure than the projected growth rate from 2020 to 2021.
These figures are featured in a white paper by Frost & Sullivan, a business consulting firm offering market research and analysis, growth strategy training, and more. The white paper, Hybrid MDR: A Holistic Security Solution for SMBs, defines the features and functionalities that make up a truly comprehensive cybersecurity service.
Keep reading for some key takeaways from the white paper, or download a copy to read in full.
The white paper found that businesses use an average of 11 different products for their security needs. MSPs should look at holistic cybersecurity solutions that seamlessly replace multiple tools at once, and there are a few reasons why.
For the end-user, end-to-end threat monitoring, detection, and response results in fewer visibility gaps and superior cybersecurity. When it comes to cost, it's also typically much more affordable to pay for one comprehensive solution instead of several basic tools.
As for the MSP, you won't have to spend hours flipping between dashboards and comparing data. Choosing a cybersecurity solution that natively integrates endpoint, network, cloud, and email protection minimizes redundancies and makes it easier for you to protect your clients.
Human intelligence plus automation
Automated cybersecurity solutions must incorporate advanced technology and human intelligence. As far as technology has come, especially over the past decade, humans will always have a role to play in a proper cybersecurity solution.
The problem, however, is cybersecurity expertise is in high demand. It's challenging for all but the largest of businesses to access the right personnel with the right skills.
For MSPs wanting to deliver a superior managed service, it’s imperative they find a cybersecurity partner who can offer this expertise as part of the solution. Cybersecurity solutions that combine real experts with machine learning ensure fewer and more reliable threat alerts, taking a significant amount of weight off the service provider.
Real-time active response
Active response is a key feature MSPs should look for. A solution with active response can carry out critical defense activities such as:
- Preventing or stopping remote communications (via DNS firewall and dynamic block lists) to provide a broad defense against threats that hinder external communications and prevent threat actor command and control.
- Blocking malicious activity and isolating a host/endpoint from external communications.
- Locking cloud accounts and revoking active sessions upon discovering malicious activity.
With a cybersecurity solution carrying out these response activities, it frees up your team's schedule to focus on other time-sensitive tasks.
Hybrid MDR: A holistic security solution for your SMB clients
Hybrid MDR combines these three elements—end-to-end protection, human intelligence plus automation, real-time active response—and so much more, making it easier for MSPs to protect their clients.
If you're interested in hybrid MDR and want to learn more about what it can do for your managed security offering, read the full Frost & Sullivan white paper here.