How to Pick a Managed Security Service Provider: What You Need to Know

Many of us get lulled into a false feeling of security by headlines about cybersecurity dangers, thinking that security attacks are so uncommon that they don't make the news. The truth is much darker than that. 54% of firms suffered a cyberattack last year.

What does this indicate for your company? Simply put, that implies you require professionals and reliable technology. You must prioritise cyber security.

Using the services of a managed service security vendor is one approach to achieve this. What it implies and how to choose the best one for your business are both covered in this book.

Managed Security Service Providers: What They Offer

Use managed services if you don't want to manage IT internally. In that case, you contract with a company to handle everything. They frequently feel like a member of your team while being a different organisation.

Managed Security Service Providers, or MSSPs for short, are one such service.

MSSPs are businesses that assist in securing your company against online dangers.

They provide a range of services, including network monitoring, attack detection, and response. And most importantly, they safeguard your data.

Using an MSSP can save you time and money because they have the equipment and know-how to secure your company.

They collaborate with you to create a unique security strategy, allowing you to concentrate on managing your company. You may rest easy knowing that your company's digital assets are in excellent hands by working with an MSSP.

Managed Providers and How They Fit With Your Organization

MSSPs smoothly integrate with your business. They also collaborate closely with your IT staff to strengthen your security. They keep an eye on your systems every day, warn you of potential threats, and act quickly when an incident occurs.

Transparency is ensured by sending you regular information on their conclusions and results. You may concentrate on your main business by working with an MSSP who will take care of your security worries.

Key Considerations

As you may anticipate, managed services come in a wide range. You must locate a provider who is a good fit for your company.

These are some things to think about when searching. Use these to help you develop a shortlist and focus your search.

Services

Network monitoring, threat detection, incident response, and data security are all standard services provided by MSSPs.

Crucial services like threat detection and monitoring aid in the prevention of cyberattacks. When breaches happen, incident response is essential to reducing damage. Sensitive information is kept secure thanks to data protection.

Due to their varying needs, some firms might not require every service.

Companies handling sensitive data, for instance, might emphasise data protection. On the other hand, people with lower risks might concentrate on crucial monitoring. It's critical to consider your specific business configuration and select services that meet your requirements.

Expertise and Experience

Competent MSSPs can better ward off online dangers. They'll also have a better chance of reducing harm in the event of a security issue. Look for credentials, industry recognition, and case studies to judge expertise.

Consider their managed security experience in your particular business as well. That implies that they are aware of the particular difficulties you face. They will be familiar with your industry's top security needs.

Scalability

Your company's security requirements grow as it does. Choose an MSSP that can expand and evolve along with your company. You want someone who can be flexible in what they can provide you.

That makes sure they can manage escalating demands and adjust to your shifting needs.

A scalable MSSP partnership eliminates the need for future provider switching. That conserves resources and time. When your firm develops, it helps you maintain consistent security measures.

Pricing

When considering an MSSP, set a budget. It will allow you to meet your security needs without going over budget.

Make sure you are comparing like-for-like services when evaluating security service costs. See what is included in each plan because various providers may bundle services differently.

Request from businesses accurate pricing that includes charges for each service and any optional extras. This aids in decision-making and assists in locating the MSSP that offers the best value while also meeting your financial and security needs.

Technology

Take into account the MSSP's technological skills when choosing the best one. Here are a few ideas:

Assess their tools for threat detection, response, and network security

Check if their technology integrates with your existing systems

Investigate their data protection measures like encryption

You can identify a provider who uses cutting-edge solutions by looking at an MSSP's technological capabilities. The best technology will smoothly connect with your current setup while providing the safest means of protecting your company.

Customer Support

Examine the MSSP's available support channels. And Verify whether customer service is available. In general, first-line assistance deals with basic concerns, and second-line help addresses more complicated issues.

For more information, consult their Service-Level Agreements (SLAs). That will specify the response and resolution timelines as well as the consequences for not meeting them.

Based on your business operations, decide if you require support from 9 to 5 or around-the-clock coverage. Keep in mind that while 24/7 service may cost extra, it is better suited if your company operates around the clock.

Security Compliance and Certifications

Verify the MSSP's security certifications before hiring them. It could incorporate:

CISSP: Certified Information Systems Security Professional

CISM: Certified Information Security Manager

CISA: Certified Information Systems Auditor

Verify if it complies with industry requirements. Commonly accepted standards around the world include:

ISO: International Organization for Standardization (the most relevant security standard is ISO 27001)

NIST: National Institute of Standards and Technology

GDPR: General Data Protection Regulation

Also, confirm if the service offers any data and security standards that can be crucial for your industry. Here are two illustrations:

Healthcare: HIPAA (Health Insurance Portability and Accountability Act)

Payment processing: PCI DSS (Payment Card Industry Data Security Standard)

A crucial stage is to confirm certificates, compliance, and quality standards. It will demonstrate that the security firm employs best practices.

More importantly, it will provide you comfort knowing they are reliable companies. When collaborating with any supplier on a crucial security problem, you want that.

Monitoring and Reporting

Verify the monitoring and reporting capabilities of any MSSP.

It's important to monitor. It aids in the quick detection of threats and vulnerabilities; during a security emergency, it could make or break a corporation. And it indicates you have a skilled hand to quickly mitigate a risk.

Find out if possible MSSPs can offer you custom reports and dashboards by asking them for examples of the reporting they can offer. You'll still need to view certain information about your security status even if you use a managed service.

One may argue that the monitoring and reporting feature should rank among the top considerations when choosing an MSSP. Your company will have the security and compliance you want thanks to thorough monitoring and reliable reports.

Also, it will maintain the best industry standards for your company. This will safeguard client information, business continuity, and brand reputation.

Before Your Decision: Client Testimonials

When employing an MSSP, it makes sense to read internet reviews, recommendations, case studies, and testimonies. Go to their website first. These might feature testimonials from customers and success tales.

For unbiased thoughts, look through industry forums and online review sites. Consult your professional network for referrals and first-hand knowledge about MSSPs.

This research is an essential first step. It aids in evaluating the MSSP's standing, dependability, and efficacy. You want to be sure they can manage security difficulties similar to yours.

Additionally, it offers information about their customer service. Look for hints about their responsiveness and the level of client happiness overall.

You can evaluate the MSSP's performance and make a wise choice by consulting these sources. It will assist you in selecting a service who meets your expectations and business demands.

Final Conversations and Sales Pitch

You have probably received numerous invitations to sales calls if you have started talking to MSSPs! Take advantage of the chance when it arises to speak with possible suppliers in greater detail at that time.

Establish a list of questions in advance. Never assume that a question is too obvious or easy! They probably have already heard this question, so make sure you fully comprehend every detail of the service before you sign anything.

Invite a member of your team with knowledge of IT security to these discussions if your company employs technical personnel. They will inquire about important matters that will aid in your decision-making.

Decision Time

Make a selection of potential providers while making your decision. Have a meeting internally and analyse each MSSP separately, outlining the benefits and drawbacks.

Attempt to narrow down your short list; it will help with the decision. By that time, you might discover one that stands out from the rest. Perhaps the proposal has a definite technological edge, or you already have one on your list that offers the best SLA.

You can always ask the MSSP to give you a trial term if you're not sure for sure. Before you sign a long-term contract, you will be able to examine the service in real-time and determine whether it is a good fit for your business.

Securing Your Business’s Future

Security is more than just defending your company against an unlikely incident. It involves bolstering your defence against a potent, continuously evolving, and ever-changing adversary.

It makes sense to work with a managed security service provider. It will make sure that your company can continue to run even in the event of a security breach and will safeguard your vital company data (not to mention your business reputation).