In a recent industry discussion, a panel of experts explored critical aspects of cybersecurity, focusing on challenges, emerging trends, and actionable solutions for Managed Service Providers (MSPs). This recap provides a summary of the key takeaways and actionable advice shared, aimed at helping MSPs navigate the evolving threat landscape.
Key Insights and Trends
- The Widening Gap: A growing disparity exists between MSPs that have adopted advanced security practices and those lagging behind. This is partly due to the rapid evolution of cyber threats, but also reflects differences in pricing models and service offerings.
- The Rise of Cyber Resilience: The path to cyber resilience is no longer optional but a necessity. MSPs must proactively build this into their service offerings to mitigate catastrophic risks for their clients. This approach also presents significant revenue opportunities.
- M365 Management Challenges: Managing Microsoft 365 environments presents complexities. Simplified multi-tenant management tools that automate standard security configurations, like audit logging, are increasingly vital for streamlining operations.
- Supply Chain Risk Management: The role of cyber risk is expanding. Banks and other financial institutions are increasingly demanding robust security practices from their partners, including incident response plans, highlighting the need for MSPs to align with broader compliance requirements.
- Increasing Regulation: There’s a significant increase in cyber security regulation. This means that MSPs must be prepared to meet and enforce a higher security standard on behalf of their customers.
- Dark Web Intelligence: Using information from the dark web to anticipate attacks is a valuable tool. This intelligence can inform proactive outreach to clients. However, this must be paired with other essential measures.
- Shift in Customer Mindset: Clients are growing more willing to accept necessary security measures. This reflects an enhanced understanding of the risks, potentially reducing resistance to more robust cybersecurity investments.
Challenges and Solutions
- Vendor Limitations: MSPs encounter challenges with tools that don’t fully meet their workflow needs, or tools that may not be easily customized to fit individual clients.
- Building Trust: Building trust and educating clients about the need for a robust approach to cybersecurity is crucial.
- Effective Phishing Simulation: Phishing simulation is a useful tool, but by itself, its efficacy is limited. It must be supported by proper post-simulation actions.
- Automated Data Verification: The value of automated proof of compliance is evident for both the MSP and its customers. This includes the reporting, and the enforcement of MFA.
- Accountability and Authority: Clarifying responsibilities and setting clear expectations with clients regarding incident response and remediation, including authority to isolate compromised systems, is essential.
- Process is Key: The importance of establishing and communicating internal processes, including AP (Accounts Payable) control measures, is of utmost importance.
Looking Ahead
The cybersecurity landscape is dynamic, so MSPs must stay informed, continuously adapt their strategies, and prioritize:
- Actionable Information: Staying up-to-date with industry developments and engaging in ongoing education.
- Building Relationships: Creating a robust process to clearly define the roles and responsibilities between vendors and customers.
- Education and Process: Establishing solid processes and setting the expectations with clients, as well as the need to regularly review and update service-level agreements and processes to reflect current threat conditions.
By embracing these strategies, MSPs can better serve their clients. Through doing so, they can position themselves to remain competitive, and contribute to a more secure digital ecosystem.