MSPs are playing an increasingly important role in organizations' cybersecurity. This is the key finding from our Pulse "Outsourcing Security" survey of more than 100 organizations worldwide: 88% of respondents are outsourcing their cybersecurity processes or tools, and the most common type of outsourcing agreements selected is through MSPs (55%).
Pulse Cybersecurity Outsourcing Survey: Types of Service Provider Agreements
Outsourcing has grown during the pandemic: almost three quarters (73%) state it has increased since measures to implement teleworking were introduced in their companies. But this trend will continue to rise in the coming year: 60% believe that outsourcing will grow over the next 12 months, even though remote working policies will be relaxed in many companies.
For this reason, one of the organizations acknowledges that "outsourcing allows us to manage situations in which we lack sufficient knowledge or resources, but it is also an opportunity for our own teams to learn from providers and consultants." The dearth of qualified employees in cybersecurity (75%) and the ability to manage the size of the issue properly (56%) are the main reasons why companies turn to outsourcing.
In terms of the tools and processes they decide to outsource, SIEM capabilities (58%), threat and vulnerability management (44%), and identity management and access (42%) stand out. In these cases, annual subscriptions are preferred (46%), as opposed to other models such as pay-per-project (15%).
But what are the main factors that organizations take into account when selecting providers? 58% highlight price, 45% service implementation time and 40% mention recognition by prestigious analysts (e.g. Gartner's Magic Quadrant). As regards what they look into before signing up to a service provider, 67% cite ensuring they hold the relevant certifications (SOC, HIPAA, etc.), 65% interview security teams and 41% check their employees' profiles and track record. It’s worth noting that the majority of companies (91%) are satisfied with their agreements with providers and 92% believe that protection against cybersecurity incidents for their businesses has improved as a result.
The survey data demonstrates the important role that MSPs have acquired in serving companies in the face of increasingly frequent and sophisticated threats. MSPs offer them a lifeline by enabling them to rely on trusted advisors and take action based on experience gained from dealing with hundreds of customers, often through efficient and automated processes. They also provide reports so clients can stay informed and take a very active role in their own cybersecurity. However, in the face of ever-increasing cybersecurity demands, MSPs are finding it more challenging and difficult to deliver services. And, frankly, it isn’t possible in most cases without security technology built on a unified platform.
At WatchGuard, we are on a mission to help MSPs continue to be one of the top choices for companies to outsource their cybersecurity. Current and prospective customers expect MSPs to provide powerful visibility and reporting tools that can easily and effectively demonstrate value. For this purpose, we've created the Unified Security Partner Platform (USP), a single console solution for provisioning, deploying, managing and monitoring an integrated portfolio of advanced cybersecurity solutions and services. Click here to find out how WatchGuard can help you grow your business.