Responding to Risk in an Evolving Threat Landscape
There’s a reason major industry players have been discussing cybersecurity more and more: the stakes are at an all-time high for virtually every business today. Cybersecurity is not a matter businesses can afford to push off or misunderstand—especially small and medium-sized businesses (SMBs), which have emerged as prime targets for cyberattacks. The risk level for this group in particular has increased exponentially, with 57% of SMBs reporting an increase in attack volume over the past 12 months, and the current reality—while serious—is actually quite straightforward for managed service providers (MSPs):
- Your SMB clients will be attacked.
- Basic security will not stop an attack.
- The MSP will be held accountable.
While MSPs may have historically set up clients with “effective” security measures, the threat landscape is changing and the evolution of risk needs to be properly, and immediately, addressed. This means redefining how your clients think about risk and encouraging them to respond to the significant increase in attack volume with security measures that will actually prove effective in today’s threat environment.
Even if the security tools you’ve been leveraging are 99.99% effective, risk has evolved from minimal to material due simply to the fact that there are far more security events per year than ever before.
Again, the state of cybersecurity today is pretty straightforward: with advanced threats like rapidly evolving and hyper-targeted malware, ransomware, and user-enabled breaches, foundational security tools aren’t enough to keep SMB clients secure. Their data is valuable, and there is real risk of a breach if they remain vulnerable.Additional layers of security need to be added to the equation to provide holistic protection. Otherwise, your opportunity to fulfill the role as your clients’ managed security services provider will be missed, and your SMB clients could be exposed to existential risk.
Steps for Responding to Heightened Risk as an MSP
Step 1: Understand Risk
Start by discussing “acceptable risk.” Your client should understand that there will always be some level of risk in today’s cyber landscape. Working together to define a businesses’ acceptable risk, and to determine what it will take to maintain an acceptable risk level, will solidify your partnership. Keep in mind that security needs to be both proactive and reactive in its capabilities for risk levels to remain in check.
Step 2: Establish Your Security Strategy
Once you’ve identified where the gaps in your client’s protection lie, map them to the type of security services that will keep those risks constantly managed. Providing regular visibility into security gaps, offering cybersecurity training,and leveraging more advanced and comprehensive security tools will ultimately get the client to their desired state of protection—and that should be clearly communicated upfront.
Step 3: Prepare for the Worst
At this point, it’s not a question of if SMBs will experience a cyberattack, but when. That’s why it’s important to establish ongoing, communicative relationships with all clients. Assure clients that your security services will improve their risk level over time, and that you will maintain acceptable risk levels by consistently identifying, prioritizing, and mitigating gaps in coverage. This essentially justifies additional costs and opens you to upsell opportunities over the course of your relationship.
Step 4: Live up to Your Promises Through People, Processes, and Technology
Keeping your security solutions well-defined and client communication clear will help validate your offering. Through a combination of advanced software and services, you can build a framework that maps to your clients’ specific security needs so you’re providing the technologies that are now essential for securing their business from modern attacks.
Once you understand how to effectively respond to new and shifting risks, you’ll be in the best possible position to keep your clients secure and avoid potentially debilitating breaches.