The Missed Opportunity in Cybersecurity by Managed Service Providers
MSPs are missing a big opportunity by focusing on too much on technical solutions that don't account for the human risk that is by far the largest threat to small businesses.
Ops and BD
Last year representing a tipping point in cybersecurity as the majority of small businesses experienced some sort of a cyberattack. As a result, cybersecurity has become more important than ever. Smaller organizations tend to rely heavily on Managed Service Providers (MSPs) to safeguard their digital assets from cyber threats. However, despite the increasing sophistication of cyberattacks, many MSPs are missing a significant opportunity by focusing on the wrong aspects of cybersecurity.
Neglecting the Human Factor — the Biggest Risk
One of the most critical oversights by MSPs is neglecting the human factor in cybersecurity. The latest research shows that approximately 85% of cyber-attacks can be traced back to human error or carelessness within an organization which gives cyber attackers a way in. Clicking on Phishing emails, using weak passwords, logging in from unsecured devices or unsecured networks— these are all vulnerabilities that can be exploited by cybercriminals targeting an organization through it’s own people.
MSPs should prioritize educating and training their clients' employees on cybersecurity risks and best practices. This includes raising awareness about phishing tactics, creating strong security policies, implementing multi-factor authentication, and ensuring secure remote access protocols. By addressing the human element of cybersecurity, MSPs can significantly reduce the risk of successful cyberattacks targeting their clients.
Overemphasis on Tools Over Frameworks and Processes
Another fundamental flaw in the approach of many MSPs is their overemphasis on security tools rather than the underlying foundational frameworks and processes of cybersecurity. While tools such as firewalls, antivirus software, and intrusion detection systems are essential components of any security infrastructure, they alone do not guarantee protection.
Cybersecurity is not just about deploying the latest tools; it's about establishing a comprehensive foundation and framework that includes employee education and awareness, robust policies, continuous monitoring and reporting, and effective incident response plans. MSPs should prioritize educating their clients about these important foundational elements and implementing them rather than solely relying on point solutions that many times address security symptoms but miss the main cause of security breaches.
Managing Disparate Tools: Complexity and Cost Concerns
Another common pitfall for MSPs is the management of disparate security tools that are often overly complex and expensive. Many MSPs deploy a multitude of point solutions from different vendors to address various security threats, leading to integration challenges, overlapping functionalities, and increased operational costs, both in terms of money and time.
Instead of running multiple siloed tools which create a huge time investment and can also add up from a cost perspective, MSPs have an opportunity to leverage integrated platforms that offer comprehensive security capabilities. This approach not only simplifies management but also enhances the effectiveness of cybersecurity operations.
Foundational Cybersecurity – An Opportunity for MSP’s
One of the biggest challenges for MSPs, as is the case with any business, is winning and retaining customers. Foundational Cybersecurity frameworks, that are easy and inexpensive to deploy, offer MSP’s a great way to engage with prospective new customers, and to remain relevant and “sticky” with existing customers. Many of the older Cybersecurity “point solutions” in the market have historically been expensive meaning that MSPs are unable to attract new customers and often lose existing customers due to overhead costs. Newer consolidated Cybersecurity frameworks, like Atro, offer MSP’s a way to get customers cybersecure faster and cheaper leading to opportunities to both win new customers and keep existing customers.
Conclusion
In conclusion, while Managed Service Providers play a crucial role in protecting organizations from cyber threats, many are missing a big opportunity by focusing on tools over frameworks, overlooking the human element of cybersecurity, and focusing on overly complex and expensive toolsets as a panacea to all cybersecurity risks. MSPs need to instead seize the opportunity to become a proactive advisor for their customers who helps them to understand where the real risks are (their own people), and helps them to adopt an integrated security framework consisting of processes and tools that are inexpensive and easy to manage. By doing so, MSPs can better protect their clients, strengthen their relationships, and differentiate themselves in a crowded marketplace of cybersecurity solutions.
