Cybercrime can cost the average US organization up to a staggering $13 million per year, according to recent reports. What’s more, even a single security incident can cost an SMB over $54,000 in recovery costs. The good news is that there’s a way to protect your business from the financial costs, service disruption, and reputation damage associated with data breaches, and that’s by partnering with a managed services provider (MSP).
Below, we break down how managed security services work and why partnering with an IT professional is the best way to protect your organization from cyber vulnerabilities.
How managed security works
Managed security means outsourcing the management of your security systems and devices to an external service provider. These providers are known as Managed Security Services Providers (MSSPs) or Managed Services Providers (MSPs).
MSSPs and MSPs typically offer a wide range of security services, including:
- Data backup and recovery
- Intrusion detection and threat monitoring
- Security audits
- Network monitoring
- Disaster planning
- Security intelligence
- Incident response and investigations
These IT professionals are especially helpful to organizations with limited or no in-house IT staff, but every company should consider partnering with them. Here’s why.
Why cybersecurity is so important
Cybercrime and data breaches are more common now than ever before. One recent study showed that businesses face an average of 145 security breaches per year, and this figure is only expected to grow. Security incidents don’t just cost your company money, either. Other consequences of security failures include:
- Loss of company reputation
- Damage to hardware
- Irretrievable data loss
- Hours, or even days, of downtime
Can partnering with an IT professional really protect your business from these side effects? The answer is yes. MSPs protect your business from security incidents in the following essential ways.
Hackers work around the clock, and so should your support system. With an IT professional on your side, you’ll have access to round-the-clock IT support and intrusion detection, giving you the confidence you need to get on with running your business while your service provider handles your security needs.
It’s hard to find in-house IT professionals with the up-to-date skills and knowledge they need to protect your business from security threats. MSPs and MSSPs have the training, expertise, and experience to protect your company from these evolving threats as and when they arise.
Highly regulated industries such as finance and healthcare must adhere to strict data protection and security regulations. An MSP can help you comply with these regulations, and they’ll alert you to any changes in the law that affect your business. In a constantly evolving regulatory landscape, this support is invaluable.
Recovering from downtime costs you time, money, and resources. IT professionals save you money by reducing your exposure to these costs – all for a predictable fee that fits in with your annual IT budget.
There’s no substitute for well-trained staff, given that employee negligence is a leading cause of data breaches and cybersecurity incidents. A security services provider can help to prevent employee error and negligence by making your personnel aware of the latest threats and how to avoid them.
Choose a partner today
Partnering with an IT professional or MSP drastically reduces your exposure to hackers and minimizes the risk of data loss and corruption. For more information on what an MSP can do for you and your business and why it’s so important to protect your organization from cybercrime, contact us today.