In 2018, cybersecurity spending is expected to reach nearly $100 billion, an increase of eight percent from the year prior. Organizations of all sizes are spending more money on IT security than ever before because the threats they face have never been more dangerous. In 2017 alone, more than 2.5 billion records were stolen or compromised, costing businesses on average $3.5 million per breach.
In light of this grim reality, an increasing number of businesses are turning to Managed Security Services for help. In fact, the global Managed Security Services market is estimated to grow at a CAGR of 14.7 percent during the forecast period 2017–2025, with 45 percent of surveyed organizations planning to partner with a Managed Security Services Provider (MSSP), such as Vology, in the near future.
Highlighted below are some of the main benefits of taking a managed approach to IT security.
Successfully navigating the constantly shifting cybersecurity landscape is difficult even for experts with access to best-of-breed technology, and it’s nearly impossible for in-house IT staff whose responsibilities cover many additional aspects besides security. Unsurprisingly, studies have shown businesses that take a managed approach to IT security see a significant reduction in the possibility of experiencing a data breach.
Organizations also see a significant reduction in their IT security expenses. Cybersecurity solutions, regardless whether they are offered as Platform as a Service (PaaS) or as a one-time capital expenditure, are expensive, and so are the people who know how to use them. Managed Security Services, on the other hand, are predictable and scale with size, making it possible for small and medium-sized businesses (SMBs) to benefit from the same world-class cybersecurity solutions that some of the largest enterprises use to protect themselves against cybercriminals.
Access to Qualified Staff
Managed Security Solutions close the skill gap by providing access to qualified staff capable of defending against the latest cybersecurity threats. Most SMBs would never be able to attract the same talent leading MSSPs are known for, and even larger businesses should consider whether their money wouldn’t be better spent on their core businesses.
Focus on Core Business
Companies that choose to outsource their IT security can use their in-house IT resources to better achieve their business objectives. When IT staff don’t have enough time to take care of core tasks, the entire organizations suffers, and productivity often slows down or even comes to a halt.
The cybersecurity threat landscape changes so frequently and so rapidly that only cutting-edge security technology can offer a satisfactory level of protection. However, it’s not financially feasible for most businesses to constantly update their cyber defenses. The good news is that with Managed Security Services, they don’t have to as they can always enjoy access to best-in-class security technology without paying extra for it.
Whether it’s for PCI DSS, HIPAA, FISMA or ISO, businesses and organizations in many highly-regulated industries must ensure regulatory compliance, which may be challenging when resources are limited. Quality MSSPs can assist organizations of all sizes to meet their compliance needs and address the unique risks specific to each industry.
Vology’s Managed Security Services
At Vology, we offer a full breadth of Managed Security Services to help businesses protect against every aspect of security and compliance threats. Our highly-skilled Security Operations Center (SOC) personnel is responsible for the continuous monitoring of your cybersecurity defenses, protecting you from every aspect of security and compliance threats and allowing you to focus on your core business.
Visit vology.com or call 888-808-2199 to get started.