Recently, we conducted a survey of more than 400 SMEs and enterprises in the US and UK, addressing their IT security needs and views of their service providers. The results presented huge opportunities for MSPs willing to add the extra S to their acronym and become managed security service providers (MSSPs). With 80% of businesses planning to change their IT security management in the next 12 months, many MSPs are weighing the benefits of MSSP status and how to achieve it. Here are the details:
We found the market turbulence on this issue is comprised of 17% of companies intending to switch their current service provider in the next 12 months, 10% wanting to cease outsourcing in favor of in-house management, and a huge 49% planning to outsource their security for the first time. This latter group represents an enormous opportunity for IT solution providers and MSPs able to prove their security services credentials. Below, we’ve listed, in order of value, the five types of IT security opportunities the report has revealed concerning the next 12 months:
- Businesses currently handling security internally but now want to outsource their security primarily due to cost (25% of the market)
- Businesses currently handling security internally but now want to outsource it to improve performance (24% of the market)
- Those currently outsourcing but considering taking security back in-house in the next 12 months (10% of the market)
- Businesses considering switching service providers due to poor performance (9% of the market)
- Businesses considering changing providers to reduce costs (8% of the market)
Seizing the Opportunities
The full report, entitled, “The Path to MSSP,” also details how these opportunities can be seized only by delivering robust MSSP services, rather than just offering a basic security function. MSPs need to demonstrate they have the Knowledge, Organizational Ability, and the Technology, Tools, and Resources to deliver in the four key areas of IT security: Infrastructure, Data Security, Risk & Vulnerability Management, and Identity and Access Management. MSPs can use these core requirements to judge whether they are able to meet the needs of their customers as a specialist MSSP; and if they fall short, where they need to invest.
With the report showing that 70% of businesses would have more faith in an MSSP’s security capabilities over a standard MSP, those fulfilling the MSSP criteria will be in a better position to make the most of this outsourcing opportunity. Read the full report now, explore further opportunities for MSSPs in security, and discover not only what it means to be an MSSP, but also the openings for MSPs considering this path.
Get the full report here.
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