A managed security provider (MSSP) is an it (IT) service provider that sells security services to businesses. The role of an MSSP is to help protect businesses from security threats, whether which means providing software and services that keep company data safe or building a network of security experts that can respond to attacks as they happen. MSSPs provide cybersecurity monitoring and management, which might include virus and spam blocking, intrusion detection, firewalls and virtual private network (VPN) management. MSSPs also handle matters such as system changes, modifications and upgrades.
What are Managed Security Services Provider (MSSPs) used for?
Organizations may either outsource all or some areas of their IT security functions to MSSPs. These firms offer a variety of services, such as continuous security monitoring, vulnerability risk assessment, threat intelligence and assessments, intrusion management, video surveillance and access control. MSSPs can also provide security recommendations and some level of continuous security, and they can form policies to help protect a company’s infrastructure.
MSSPs are an efficient and cost-effective way to protect your data and network from intrusions while reducing the complexity of the procedure. For example, hiring an in-house cybersecurity team can be more expensive than working with an MSSP. MSSPs can also help businesses cut costs on equipment and software tools.
Large enterprises typically benefit from MSSP services due to increased security threats. However, many small and medium-sized businesses (SMBs) can also benefit from MSSPs as security threats evolve. The demand for MSSPs is increasing and the global managed security services market is forecasted to attain $46.4 billion by 2025.
There are six main categories of managed security services, including:
- on-site consulting;
- perimeter management of the client’s network;
- product resale;
- managed security monitoring;
- penetration testing and vulnerability assessments; and
- compliance monitoring.
How to evaluate a managed security service provider
The five key areas to consider when evaluating an MSSP are:
- Expertise. Ensure an MSSP is staffed with experts in the field, including engineers and cybersecurity professionals.
- Services. Determine how well the MSSP’s services align with an organization’s needs and exactly how well those needs can be met.
- Staff. MSSPs need a sufficient amount of trained staff members to become readily available 24/7 to respond quickly to needs and emergencies.
- Security. Understand how an MSSP handles and maintains an organization’s sensitive information.
- Budget. An organization must determine the pricing and service levels for an MSSP to ascertain if their budget can accommodate its services.
Evaluating a security service provider can be difficult because not every service proposed by an MSSP provides value to a company. For example, an organization might not require mobile security if they have a small team. Determining the right MSSP for an environment requires examining each one of these areas of analysis to determine which is most significant for a business. Depending on the nature of a business, certain MSSPs also offer services to assist businesses in regulated industries. As an illustration, some businesses are required to meet compliance requirements, such as the Health Insurance Portability and Accountability Act (HIPAA) or the European Union’s General Data Protection Regulation (GDPR).