Determine Whether Managed Security Systems Are Right for Your Business
Much of our business is being conducted remotely using online resources. This includes the transfer and storage of confidential information that makes even the most established organizations susceptible to security breaches. We have seen historic hacks resulting in information leaks from companies like Equifax, and even the FBI. Finding a better way to protect sensitive data has generated interest in Managed Security System Providers (MSSP).
In 2014, MSSPs were still a fairly new phenomenon but had generated a $3-billion-dollar revenue in the cyber security and remote IT industry—correlating with a growing rate of success in the use of MSSPs in place of in-house IT departments. According to recent reports from Gartner Inc., worldwide information security spending grew 7 percent to reach $86.4 billion (USD) in 2017 and is expected to touch $93 billion in 2018.
Choosing to work with an MSSP can be a rewarding decision when it provides a cost-effective solution for growing problems relating to sophisticated cyber threats. The key is to define your company’s security needs and analyze the potential benefits it can garner from partnering with an external cyber security service provider.
Weighing the Benefits of MSSP
Before committing to hire a MSSP, it’s important to carefully assess your needs. There are several factors to consider, including:
- Your Strengths, Weaknesses, Opportunities and Threats: Traditional wisdom dictates that “If it isn’t broke, don’t fix it!” Unfortunately, with the rapidly rising threat of cyber security and the sophistication of hackers’ operating methods, you never really know when your business will be attacked. Your goal is growth and profitability but investing in robust IT security is paramount to successful accomplishment of those goals. Carefully evaluate and perform a SWOT analysis of your in-house systems and resources. Consult with the experts in cyber security to reveal gaps that need to be covered. Then, decide whether it is advisable to bring in a MSSP or try to fill those gaps with your own resources.
- Your IT Budget: Are you poised for financial growth? As a company diversifies and gets larger, so do its IT and online security needs. Make sure to include this growth charter in your technology budget and consider investing in your cyber security by partnering with an established MSSP.
- Your Level of Satisfaction with Your Current IT Solutions: Overseeing an IT department can take time away from your business and lead to expensive downtime. Allowing a MSSP to take over these responsibilities can improve efficiency and identify cybersecurity threats before they turn into expensive and highly damaging problems.
- Compliance Requirements: Depending on your industry’s standards and regulation, you may need to comply with certain mandated processes to ensure that information you hold, gather or distribute is secure. While compliance should not be the only reason to consider ramping up your IT security, it can often be a compelling reason to trust an experienced provider with this important task.
Strengthening Your Information Security is a Worthy Investment
Working with a MSSP can help to strengthen your IT department and bolster any deficits created during company growth and a changing virtual landscape. Staying apprised of potential threats is vital to the security and longevity of your company. Not only do you need to protect information and data, but you also want to ensure your reputation and brand equity remain intact. When you lose against hackers, you lose face with your customers.
Partner with GlassHouse Systems as your MSSP and take a holistic approach to improving your company’s IT security. Call our team today.
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