As some parts of the world continue to struggle with the COVID-19 epidemic, others are starting to come to terms with a new way of working. There is much talk about some of these changes becoming permanent, including when it comes to managing cyber security.
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In conversations with MSSPs and expert analysts at firms like Forrester one key requirement for MSSPs is the need to provide access to a customer portal that contains key information about the security services that are being provided; traditionally a web-based offering, the need to access through desktop browsers and mobile devices has become evident.
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Managed security services provision, or Security as a Service (SaaS), is a highly competitive market with new entrants such as IT service providers looking to add security streams of revenue or through consultancies looking to drive continuous revenue from their existing client base. It is important to understand how multi-tenancy can help.
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Managed security services is a fast growing industry and nearly every MSSP we talk to is looking to drive growth through the acquisition of new customers. However, making this growth profitable and scalable relies heavily on the capabilities their technology platforms have in a specific area – Multi-Tenancy.
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As the coronavirus pandemic restrictions lift, businesses are re-evaluating their security operating models. For MSSPs, many of the past barriers to the adoption of their services have ebbed away, auguring in a new era of security outsourcing.
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Any organisation, no matter the size, that is required to comply with the Payment Card Industry Data Security Standard (PCI DSS) needs to implement a comprehensive ICT security capability to ensure they pass their annual review. The PCI standard contains auditing and monitoring requirements that ask entities to collects logs and raise alerts when they are under attack from cyber adversaries. Let’s explore this requirement and look at how your managed security service can help your customers achieve PCI DSS compliance without the need to redesign their network architecture or systems infrastructure.
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There has been a massive up-swing in the formation, growth and adoption of managed security service providers (MSSP) in recent years. This has been driven by a number of trends such as the ever-growing cyber threat, the increase in the complexity and openness of technology systems, the shortage of cyber security skills (and the resulting difficulty in attracting and retaining good people) and the heightened regulatory and consumer pressures to protect systems and data.
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No one will dispute that managed security services (MSS) are in high demand and many IT service providers are assessing the viability of MSS as a business model to see if it’s something they should offer. Yet, the specialised nature of security services, especially the ones that complement core MSSP services such as monitoring and incident response, are often out of reach.
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One of the interesting by-products of using a SIEM to monitor for security threats is that MSSPs can also offer availability monitoring of critical systems as part of the services bundle. Security is about protecting confidentiality, integrity and availability, so there is an obvious crossover with the network and system monitoring traditional managed services providers offer, but there are advantages to MSSPs offering it from a security point of view.
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Managed service providers not yet offering managed security should certainly consider the pros and cons of a security monitoring service prior to investing in the tools and people. However, the small to mid-sized market is crying out for cost-effective managed security, since getting it right with their own people can lead to unexpected costs and technology investments that are underutilised.
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