Back to all resourcesIn running a business, focus is critical. The list of responsibilities for an executive tends to be quite lengthy. Therefore, the more tasks you can delegate to professionals or specialized companies, the more you’ll begin to notice the productivity and performance of the company improve.
With cybersecurity, this is no different. A Managed Security Services Provider (MSSP) is a provider that performs the strategy, planning, and execution of part or all of a company's security operation, through outsourcing.
What does an MSSP do?
Some of the traditional services of an MSSP provide:- Enabling you to ensure 24/7/365 monitoring for a fraction of the cost of building your own staff
- Pre-emptive screening for emerging threat
- Endpoint security
- Employee awareness training
- Neutralization of threats
- And more
The list of responsibilities is huge, as it involves training, updating hardware and software, in addition to monitoring potential threats. Services are customized according to the needs of each company and its segment of activity.
Hiring an MSSP is an important decision. Therefore, crucial factors need to be taken into account. In this post, we have selected 5 tips to help you choose the best MSSP.
5 tips to choose the best MSSP for your company
1. Expertise and Flexibility
The cybersecurity market changes fast. Every day, new threats and opportunities are disclosed. For example, 46,000 new phishing sites are created every week.
Having an MSSP that is responsive and flexible to change is critical to ensuring good performance. Go beyond glitzy marketing materials and probe the fundamentals:
- Make sure they provide a true SaaS service that doesn’t tie you down to a multi-year commitment but rather offers you an exit clause for your convenience.
- Understand their level of maturity, their Service Level Agreements, and compliance with the main security standards such as NIST, ISO, GDPR, CMMC, etc.
- Check where their Security Operations Center is located and how well protected it is.
- Evaluate the company's responses to recent threats as well as its contingency plans to address urgent issues.
2. Check the credentials of the professionals involved with the company you’re considering
A skilled and experienced team makes all the difference when it comes to identifying needs, preventing, and also fighting cyberattacks. Therefore, it is essential that the chosen company has a qualified team, with certified professionals, low turnover, and a lot of experience. One of the most efficient ways to attest to this is through a professional profile on LinkedIn.
Evaluate the profiles of the professionals involved, see the professional experiences and also the testimonials left by co-workers. Make sure you’ll have direct access to Subject Matter Experts for each service they provide.
At CyVent, we like to keep our directors' Linkedin profiles open. You can access them at this link: https://www.cyvent.com/#team
3. Evaluate the frequency and quality of reports delivered
Geoffrey Moore has a quote that says: “Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway”. In fact, the data brings clarity about the real situation of the business, which are the main threats, and which points deserve attention. This guides decisions and makes them more assertive.
A good MSSP provides periodic and complete reports with data and analysis and recommendations that are really relevant to business executives. This is an important aspect that must be evaluated before hiring. Request a view of these reports and understand how the MSSP can help you manage your business.
4. Make your main goals clear and ask for references
When contacting a vendor, make your expectations and priorities clear regarding the company's cybersecurity. Below are some of the most common concerns of cyber leaders:
Understanding the business objectives and the characteristics of the company, the MSSP is better able to offer references that are assertive so that the client can identify whether the work performed is compatible with expectations.
A good analytical tool is case studies. Review case studies of companies related to your industry to gather more information to help with decision-making.
5. Ask for a list of their IT providers
We know that one of the main sources of vulnerabilities is supplier relationships. According to the Global Cybersecurity Outlook 2022 report, 39% of organizations have been affected by a third-party cyber incident in the past two years.
Therefore, being aware of the third-party risk involved in the transaction is important. A tip is to request the list of the main IT providers involved and also the certification processes for choosing business partners.
If possible, perform a risk assessment. CyVent works with RiskRecon to offerup-to-date and reliable reports that help you analyze, control, monitor, and reduce cyber risks associated with third-party vendors.
Make a choice and transition calmly
Installing or transitioning an MSSP is a delicate operation that involves the transfer of important data and can leave gaps. The best way to deal with problems is to assume that they can happen and work out an action plan to minimize their consequences. So the more time you have to do the research, hiring, and actual installation, the better.
If you are considering switching MSSPs, do so calmly. Allow a few months before the end of the contract to go to another supplier and calmly research everything.
Remember: more than notifying you when there is a threat, a good MSSP should take a proactive stance, analyzing the company to identify points of vulnerability and helping executives combat those weaknesses and strengthen their strengths.
About CyVent:
CyVent is a leading cybersecurity services and consulting company that leverages true deep learning, offering a unique-effective suite of products and services designed to enhance and strengthen your cybersecurity infrastructure. CyVent’s cutting edge, AI-driven solutions help organizations transition from the classic remediation approach to security to a more pre-emptive posture which ultimately increases prevention, decreases times-to-resolution, and automates cybersecurity operations. For more information, please visit: https://www.cyvent.com
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