Do you have concerns about your company’s cybersecurity? Keeping your business safe is a big job. If you don’t feel equipped to do it alone, there are third-party solutions that can help you protect your company — such as MSPs, or managed service providers. Here’s how using an MSP can drastically reduce your security risk.
Cybersecurity is an industry that’s constantly evolving, especially as digitalization and cyberattacks have both increased in the past couple of years during the COVID-19 pandemic. Ransomware is becoming a highly concerning issue for companies. And if your business experiences a cyber breach, this can cost your company big-time: In 2021, the average global cost of a data breach was $4.24 million. That’s a 10% rise from 2020.
What cybersecurity trends can we expect to see in 2022? According to IBM’s predictions, businesses need to beware of triple extortion ransomware, which occurs when a ransomware attack experienced by one business becomes an extortion threat for its business partner. Cybercriminals will rely on blockchain to cover their tracks. And as more and more hackers turn to cloud environments, IBM expects companies to take more of a hybrid cloud approach.
MSPs: Here to keep you cyber-secure
MSPs have the expertise and resources to prevent cyberattacks before they happen. With an MSP — a third-party resource for businesses who need help managing needs such as cybersecurity — you have access to a range of services that bolster cybersecurity, like network monitoring and multi-layered protection.
MSPs can also provide cloud security. Cloud tech is taking off; 94% of companies use cloud technology in some way. One survey indicated that 97% of MSPs provide cloud-based infrastructure design and management services, helping your cloud systems continue to run smoothly and safely.
MSPs can help you remain security compliant
Regardless of industry, you’re likely dealing with multiple sets of rules and regulations that you must follow to remain security compliant. Whether you’re a healthcare company under HIPAA, a financial institution adhering to GLBA, or any business that has access to cardholder information and has to comply with PCI DSS, dealing with these instructions and staying compliant can be a headache.
MSPs are able to help you stay security compliant. An MSP is highly experienced; MSPs have the expertise needed to advise you on following government regulations. MSPs can help you prepare for audits and assessments. They’ll also keep an eye on your network via remote monitoring.
MSPs can help you prepare a response plan
If a cyberattack or data breach does affect your business, there won’t be time to hesitate: You’ll need to confidently spring into action to minimize the damage. MSPs can help you feel prepared by outlining a response plan for cyberattacks before they happen.
Your MSP will walk you through the process of creating a practical incident response plan. If an incident occurs, the MSP can help provide you with information such as what data and systems were affected and what actions they are taking to investigate. You’ll also need an alternative method of communication with your MSP in case your corporate network was affected by the compromise.
Data backup and recovery
Once you’ve secured your business, you’ll need to assess the damage and figure out how to move forward. This might involve data recovery or getting your system back up and running fast to reduce downtime.
An MSP should also handle proactive data backup, safely storing your files to protect them from any potential future breaches.
Data breaches, cyberattacks, and ransomware are very real dangers for companies today. Using an MSP for proactive monitoring, security compliance, and incidence response can take a load off your shoulders and bolster cybersecurity for your business.