Managed security service providers (MSSPs) are external firms that provide comprehensive security services and solutions on an outsourced basis. They monitor, assess, and defend customers’ networks and systems against cyber threats 24/7 while freeing up in-house security resources.
Key Services Offered by MSSPs
MSSPs offer an array of services to protect customers from security risks. Here are some of the most common:
Managed Security Monitoring and Response
Managed security monitoring involves continuously watching networks and endpoints for threats and suspicious activity. MSSPs maintain security operations centers (SOCs) staffed with security analysts and engineers 24/7 to monitor alerts and threats across customers’ systems. This includes investigating and responding promptly to security incidents and breaches.
Managed Detection and Response (MDR)
MDR expands on basic monitoring by actively hunting for threats across endpoints, networks, applications, and more. MSSPs’ security analysts use threat intelligence, analytics, and automation to proactively search for known and unknown threats while validating indicators of compromise. This includes containing, isolating, and remediating any discovered threats.
Vulnerability Management
Managed Security Service Provider conduct routine vulnerability scans and assessments to continuously track vulnerabilities across customers’ IT assets. They flag critical vulnerabilities requiring patching and remediation. Some providers offer vulnerability management as a service by directly patching vulnerable systems identified in scans.
Managed Firewall and SIEM Services
Many providers remotely manage firewalls and security information and event management (SIEM) systems, detecting and blocking threats crossing firewalls. They filter logs into SIEM platforms to generate security analytics and threat reports for customers.
Incident Response
MSSPs contain, investigate, and resolve security breaches and incidents affecting customers. Their incident response teams conduct post-breach forensic analysis and remediation work to limit the damage from incidents.
Security Awareness Training
Providers offer security training to help educate users on secure practices. This includes role-based phishing simulation testing and training to measure the effectiveness of awareness programs.
Benefits of Outsourcing to MSSPs
There are numerous benefits of working with experienced MSSPs:
Lack of In-House Expertise
Many organizations lack the specialized security skills and resources required for an effective in-house security program. MSSPs have dedicated security staff, advanced tools, and specializations not economically viable for individual companies.
Fixed Operating Costs
MSSP services involve predictable subscription-based pricing with no upfront investment in security infrastructure. This improves budgeting and reduces operational costs versus hiring full-time security staff.
Access to Advanced Tools/Technologies
MSSPs maintain extensive security ecosystem integrations and are faster to deploy new tools and technologies to battle modern threats. For example, they were quick to implement advanced detection techniques like behavioral analytics and AI.
Scalability
MSSPs can instantly scale security resources up or down based on needs, from a single point of contact to 24/7 coverage. This allows organizations flexibility with growth.
Compliance Expertise
Many providers have in-depth experience helping customers comply with industry regulations and frameworks from PCI DSS to HIPAA and ISO. They maintain certifications and handle much of the compliance legwork.
Focus on Core Business
Outsourcing security to specialists lets organizations focus resources on core business priorities instead of diverting time/money to building a security program in-house.
Types of MSSP Pricing Models
MSSPs employ different pricing strategies based on customer needs and services provided:
Managed Security Retainer/Subscription Model
A fixed monthly or annual fee provides baseline security services like monitoring, 24/7 SIEM support, patching, and threat detection/response. It is the most common model.
Co-managed/Hybrid Model
A blend of managed and self-managed services for organizations wanting input on strategy with partial outsourcing of tactical security operations. There is flexibility in service levels.
Project-Based Pricing
For discrete projects like penetration tests, architecture assessments, and incident response engagements, MSSPs charge hourly rates or fixed project fees based on defined scopes of work.
Consumption/Usage-Based Model
Providers charge based on actual usage/consumption of resources, scaling costs up or down based on measured activity levels for threat detection, firewall events, user counts, and other defined metrics. This caters to variable workloads.
Key Factors When Evaluating MSSPs
When selecting an MSSP, carefully consider the following:
Expertise in Industry Vertical
Firms with experience in your industry ensure tailored service understanding regulatory/compliance needs specific to your business.
Breadth and Depth of Services
Evaluate if providers deliver required services at desired capability/maturity levels (people, processes, technologies). Look for opportunities to consolidate point solutions.
Security Operations Maturity
Assess provider monitoring procedures, automation levels, transparency into event response handling, and continuous improvement approach adopted by SOCs.
Financial Stability and Growth
Check the financial health and trajectory of potential partners to ensure long-term viability and investment in new capabilities.
Security Certifications and Audits
Seek providers independently assessed under frameworks like ISO 27001 demonstrating verifiable security controls baseline for protecting customer environments. Talk to existing clients, check third-party analyst reports, and read industry case studies to verify positive customer experiences.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Ravina Pandya
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