Managed Security Services for SME's

Fri, 14 Feb 2020 08:22:06 +0000

Good Reasons to use an MSSP for your Security

Firstly, let’s start with a brief description of what an MSSP is and what they do.

An MSSP (Managed Security Service Provider) provides outsourced monitoring and management of security devices, systems and software. Common services include managed firewall, intrusion detection, virtual private network, vulnerability scanning and anti-viral services. This is designed to reduce the number of dedicated operational security personnel a business needs to employ to reduce the cyber risk to the organisation. It won’t replace your current IT Department it will become an extension of it, enhancing the service they provide internally and allowing them to focus on work that will drive the business forward.

Entering into a Partnership with an MSSP you will have SLA’s and they will be proactive in monitoring your business and dependent upon the Service Level you have with the provider they will provide alerts and reports for your organisation.

The benefits are very similar to contracting out your IT Desktop & Server support to an MSP (Managed Service Provider).

One of the biggest benefits of using a Managed Security Services Provider is they can discover and fix security problems before they can negatively impact your business.

We provide Managed Security Bundles, Security Hardware and individual Security Products as well as Training

The Problem

The Threat from Cybercriminals is ever-changing, they are, just like you and I, looking for a Return on Investment. They operate as a business and therefore put a lot of effort in to their attempts to compromise your security. An MSSP will proactively monitor your security and improve it, that’s where they get their Return on Investment!

A 2018 Government survey estimated that the average cost of a small business’s worst cyber attack is between £65,000 and £115,000. 74% of small business’s haven’t put any money aside to deal with an attack. That is hardly surprising!

Recovering from a Cyberattack involves many measures, identifying and fixing the problem, replacing damaged or lost data, software and hardware, hiring specialist IT security/forensic consultants, a PR firm to manage a damaged reputation, a solicitor to deal with clients who’ve had their own business compromised as a result of your cyber incident. There are also other costs such as downtime and loss of revenue during to the downtime and potentially after with a loss of clients, some businesses even close.

Don’t let this happen to you, Act Now and Review your Security Posture!

Why do SME’s Need an MSSP

SME’s are an ideal target for Cybercriminals and no business is too small to be a target.

From recent reports almost half (48%) have had a cyberattack or data breach in their lifetime, with over one in seven saying this happened more than once. Of the businesses that had been targeted, 70 per cent were used as an entry point into a larger enterprise system they supply to. Nearly half (48%) of the cases negatively impacted relationships, with almost a quarter (22%) admitting they are no longer a supplier as a result. If you are ever looking to exit your business then having had a breach may impact the sales value of your business.

Additional Statistics

· 44% of decision makers are spending a day each week dealing with cybersecurity issues

· UK SME's see clear business benefits to cybersecurity investment. Over half (52%) believe investing in cybersecurity drives innovation, and 58 per cent believe it increases productivity. Nearly one third (28%) say cybersecurity could increase their revenue and attract new customers.

Using an MSSP will allow you to get that day a week back to work on the business!

In another recent report published by the government’s Cyber Streetwise campaign and KPMG, SME victims disclosed that:

· 89% felt that attacks impacted upon their Brand Reputation

· 30% reported a loss of clients

· 25% received negative reviews on social media

· 26% were unable to grow in line with previous forecasts

· 93% of businesses suffered operational limitations

Prevention is always better than cure!

Cybersecurity Tips for SME's

Always educate. Security awareness training can’t be a tick-box activity for SMBs. It needs to be continual, so cybersecurity stays top-of-mind and user error is minimised.

Take a layered approach. SME's need to leverage both next-generation endpoint protection and network protection to ensure they are covering the gaps that cybercriminals and hackers deploy to compromise businesses.

Know the signs. Phishing is a favourite technique amongst attackers. Make sure employees are confident in identifying the different types of attack. Security awareness training that incorporates phishing simulations ensures that people, processes, and technology are all harnessed effectively together to stop cybercriminals.

Assess your risk profile. Every business has different risk factors. If you don’t have the expertise, get an independent security audit or your MSSP to help assess your security posture. Work to develop a plan for adequate ongoing risk mitigation. Look at your GDPR exposure and follow guidelines to ensure the appropriate mitigation criteria are met.

Plan for the worst. Create a data breach response plan that identifies specific security experts to call and a communications response plan to notify customers, staff and the public. Have a backup and recovery strategy and test it, regularly!

The Advantages of Using an MSSP

You never would of guessed this one! Cyber/Data Security is their core business and they keep up to date with emerging threats and technologies. With businesses becoming more mobile and more devices than ever in use it can be a minefield for SME’s to try and stay ahead of the curve.

MSSP’s are an insurance policy constantly working in the background protecting your business and allowing you to achieve the business goals & objectives without a cyber incident impeding you.

Your costs are fixed and you know in advance what they are going to be. Ever bought goods for your Wedding? The word ‘Wedding’ adds quite a premium to the costs of everything, the same goes with the statement ‘I have been breached/victim of a cyber attack and our systems are down’ the premium can be very costly.

There are many other benefits and if you would like to find out the ones relative to your business then please contact us.

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