The average cost of a data breach in the U.S. is now at a record high of $10.22 million, compared to $4.44 million globally. The healthcare, financial services and industrial sectors are the hardest hit, but no organization is immune to the risk. One successful cyberattack could put any organization out of business.
A number of factors have caused the costs to increase. Cybercriminals have ramped up their attacks on remote workers who are outside the secure network perimeter. Threats are increasingly powered by AI, making them more difficult to detect. Attacks by malicious insiders are the most costly, followed by supply chain attacks that originate with a third-party vendor or business partner.
Few organizations have the in-house security expertise, staffing and monitoring tools to keep up with the volume of attacks and satisfy complex compliance requirements. Given limited budgets and the persistent shortage of cybersecurity talent, small to midsize enterprises struggle to develop and implement a comprehensive security strategy.
What Is Managed Security?
As with many business disciplines, outsourcing is often the best option for maximizing both effectiveness and cost-efficiency while reducing complexity. Managed security is a cybersecurity model in which some or all security functions are outsourced to a managed security services provider (MSSP). The MSSP is staffed with highly trained cybersecurity professionals whose job is to protect your IT environment and assets.
What Security Services Are Commonly Outsourced?
Keep in mind that there is no single list of managed security services that applies to every organization — and for good reason. Smaller organizations with very limited IT resources are more likely to outsource all security functions to achieve the best results. Midsize and large organizations, on the other hand, may want to work with the MSSP to create a customized program in which certain security functions are kept in-house.
The most commonly outsourced security services include:
- Monitoring. Using advanced monitoring tools, the MSSP will monitor user logins (onsite and remote), permission changes, incoming and outgoing emails and web traffic, and other activity and events to detect suspicious behavior that could point to an attack.
- Rapid Threat Identification and Response. Around-the-clock monitoring enables the MSSP to quickly identify, contain and respond to threats to prevent a breach and minimize damage.
- Patch Management and Updates. Fast deployment of security patches and software updates is essential to protecting your organization from new threats. An MSSP manages this process to prevent delays that open the window for data breaches.
- Management of Security Tools. There is no single tool that can secure your network. Multiple tools are used to create a layered defense system. This can be difficult to manage in-house, which is why it makes sense to outsource this function to the MSSP.
- Assessments and Vulnerability Testing. Most organizations don’t evaluate the effectiveness of their security systems frequently enough. The MSSP will perform regular threat assessments and vulnerability tests to identify and address security gaps.
- Regulatory Compliance and Policy Development. No longer an annual audit, compliance is a shared, day-to-day responsibility. The MSSP will help ensure that strict compliance requirements are being met, and help you develop policies that minimize the risk of costly violations.
Keep in mind that managed security can mean different things to different MSSPs. Some offer a comprehensive suite of services, while others offer only the basics. In the next article, we’ll discuss what to look for and how to choose the right MSSP.
How Verteks Can Help
If you’re ready to act now, give Verteks a call. Our experts will explain how our comprehensive suite of managed security services can provide a critical hedge against a potentially devastating cyberattack.
