How to Maximize the Potential of Managed Service Providers

Overview

Cybalt has realized the responsibility of securely maintaining processes and functions due to the ever-growing transformation in digital space. The sole objective is not only to improve business operations in a secure manner but also to reduce budgetary expenditure. Cybersecurity is at the top of the priority list for professionals in managed security services.

Although we need to protect our IT resources, we often come across limitations like the unavailability of the required skillsets or the availability of the same at a very high cost. Moreover, our organizational setups are navigating towards cloud-based solutions instead of conventional on-premises solutions. Accordingly, there has been a demand for managed service providers (MSPs) to resolve the above limitation flexibly and handle cybersecurity in an efficient and economical way.

Role of Managed Service Providers (MSPs)

Our security leaders are empowered to transform from a capital-intensive model to a complete operational-driven expenditure model. It is possible by optimizing managed security services. Our transformed model optimizes resource usage and efficiency as per requirements like firmware upgrades and patch deployments.

With the help of MSPs, our security leaders use the time judiciously on vital tasks like staff training, technology upgrades, and automation processes. Although MSPs support us, there are some associated risks too. Most of our security leaders have experienced the vulnerability of sharing business processes and resources with service providers. The major threats are denial-of-service (DoS) attacks and supply chain threats.

 

Aligning business priorities

Cybalt follows standard operating procedures (SOPs) to use the maximum potential of the service providers. Moreover, we have aligned our business priorities and best practices to manage the processes effectively. These procedures not only build trust between security leaders and MSPs but also protect our systems from supply chain threats. MSPs can help lessen these risks by facilitating security update schedules.

MSPs should provide continuous threat monitoring as a cybersecurity upgrade. We often lack the necessary resources and personnel to provide real-time protection around the clock. In the event of any suspicious activity, MSPs must provide automated monitoring tools with timely notifications.

Providing training programs

MSPs should help our security leaders with cybersecurity training programs. We can use these programs to defend against potential cyberattacks. It also ensures that proper steps are taken in the event of a data breach.

Another benefit of following the SOPs is accountability. Our security aspects ensure that the standard procedures are always followed, along with timely audits to review the performance of the service provider. We also include regular audits of the third parties accessing the systems, with plans to limit that access to only authenticated partners.

Promoting cybersecurity measures

Cybalt’s approach is to establish policies for vetting third-party vendors, including well-defined requirements for preventative cybersecurity measures. We implement scanning solutions to test the system response and involve third parties to verify proper implementation of the SOPs. We also use the review and verification processes to enable better control over business disruptions due to supply chain attacks.

Maximizing MSPs Potential

We must also prioritize revenue and growth models to extract the best performance from MSPs. The overall digital transformation process, for example, in the cybersecurity domain, must improve the existing business processes and operations in a cost-effective way. The service provider must establish and follow a formal security framework in accordance with Cybalt’s objectives. MSPs must also identify the unique security requirements and provide complete protection against cyberattacks. Our framework is streamlined to check for any potential security gaps with proper vulnerability management.

Thus, MSPs with a standard, step-by-step response plan can identify the cybersecurity problem (a data breach), provide remedial steps, restore functionality, and avoid repeat incidents.