Tech giants like Yahoo, Facebook and Quora have suffered at the hands of hackers. Hacking groups from Russia, China, Japan, and even the USA are continuously trying nasty tricks to steal important data including personal info, credit card numbers and private messages.
Over 33 billion records are estimated to be accessed illegally by 2023 alone in the United States, which might include name, address, and social security number of US citizens. To prevent such attacks and compensate for the loss due to these attacks, the US government has allocated over $15 Billion in their union budget.
The increasing cyber-attacks have kept enterprises on a back foot; data breaches have coaxed businesses into diverting their capital meant for business development towards damage control. Such data breaches have a diverse impact on companies, we have seen stocks plummet, CTOs being fired and CEOs being summoned by Senator.
Businesses have suffered enough at the hands of these hackers and now they are willing to put a stop to it. Managed Security Services are letting enterprises manage their data security efficiently without putting a hole in their pockets.
What are Managed Security Services?
Managed Security Service Provider (MSSP) is an IT expert that offers enterprises with round the clock monitoring and management against cyberattacks. Managed Security Service Providers guarantees protection against virus attack, phishing attack, unauthorized access, and VPN management.
Managed Security Services are rendered remotely via cloud computing. Often MSSP visits a client site to help them put a system in place but monitoring and management are performed through the cloud.
Managed Security Services also allow corporations to attain requisite compliances like HIPPA and GDPR. Managed Security Services are delivered remotely, which brings the cost down and saves businesses from the hassle of managing an on-site team.
Do businesses need Managed Security Services?
Heartland paid out $140 million in fines, Sony lost revenue worth $171 million and Uber paid hackers $100,000 to delete data that was accessed illicitly. When the likes of Uber and Sony have suffered at the hands of hackers, it makes sense for small and mid-sized businesses to invest in managed security services.
Salient Features of Managed Security Services:
- Vulnerability and Penetration Testing
- Audit and Compliance
- Project Security and Management
Enterprises can benefit heavily by investing in managed security services because it not only promises round the clock scrutiny but also identifies compliance failure.
Some of the other benefits of Managed Security Services are:
Minimize Cost and Maximize Security:
Through managed security services, enterprises can cut the cost to half while taking security to the maximum level. MSSPs are offering round-the-clock scrutiny at a fraction of cost required to build an in-house team of security experts. With MSSP, enterprises can save heavily on the payroll of an in-house team without compromising on the security of the running projects.
Vulnerability testing and compliance audits help corporations function within the allowed limits saving them from hefty fines. Compliance failure can cost businesses a lot of money and brand reputation as well.
Proactive Approach against Potential Threats:
Since Managed Security Service Providers are working in collaboration with varied security operation centers, it is easier for them to identify threats in the early stage and neutralize them. MSSPs are industry leaders in cybersecurity, who are on the constant lookout for new paradigms of attacks and data breaches. It is tough for hackers to go noticed by these industry experts.
Reliance on SIEM for Better Security:
The go-getter MSSP will help enterprises bring in use security information and management system to identify threats and bizarre trends. Businesses buy systems like SIEM but fail to use them efficiently to create a safer work environment but with an MSSP, they can now use these systems to achieve top-notch security.
Instant Gratification in case of Attacks:
The beauty of acquiring managed security services is that most attacks will not reach its final stage. They will be identified in the initial stages and neutralized. An MSSP will identify bizarre trends and take requisite actions instantly. These experts will study the nature of the attack and prepare a contingency plan accordingly ensuring threat neutralization without impacting core processes.
Proper Risk and Compliance Management:
Data breaches and cyberattacks have pushed countries to set regulations in every industry, HIPPA, GDPR, FISMA, and ISO are some of the prime examples. It is difficult for an enterprise to concentrate on growth and compliances simultaneously, which explains the benefits of managed security services. Through such services, enterprises can concentrate on growth without worrying about risk and compliance management.
A team of industry experts will ensure the protection of your assets against the latest threats and ensure compliance with the most recently updated regulation.
Enough Time to Focus on Core Business Processes:
While security and compliance management are some of the most highlighted benefits of Managed Security Services but the freedom to focus on core business processes without worrying about security is unparallel. Enterprises can now finally allocate resources to processes that are falling and improve their output instead of running from one regulator to another for compliance certificates.
While the Internet offers entrepreneurs with the possibility to start from scratch and create successful businesses, it also threatens existing industry leaders to lose their entire reputation with one corrupt file. The need for regulations and security measures has added additional pressure on enterprises and it is getting tougher for them to concentrate on growth and cope up with compliances at the same time.
Managed Security Services allow businesses to share their load with cybersecurity experts, which guarantees the requisite security against external threats and offers much-needed peace of mind.