What is MSSP in Cyber Security?

The term MSSP refers to a Managed Security Service Providers. A MSSP in security is a company that provides businesses with outsourced cybersecurity services. These services often include threat monitoring, vulnerability management, incident response, security assessments, and compliance management.

Managed Security Service Providers (MSSP) is a third-party company that provides outsourced cyber security services to companies.

In short, an MSSP is your front-line defense against security breaches, ransomware, and even major hazards that threaten your company’s data.

Best practices of using MSSP (Managed Security Service Providers):

Managed Security Service Providers (MSSPs) can be a valuable partner for businesses looking to protect themselves from cyber threats. Here are some best practices to keep in mind when using an MSSP:

• Clearly describe the engagement’s scope of services the MSSP will be providing and what areas of your network and systems will be covered.
• Establish clear communication channels this will help ensure that issues are addressed quickly and efficiently.
• Review reports and metrics on a regular basis, It’s important to review threat and vulnerability reports on a regular basis to ensure that your network and systems are being adequately protected.
• Regularly conduct security evaluations this can help identify any areas where additional security measures may be needed.
• Establish a strong security culture, Make sure that you establish a strong security culture within your organization, including regular security awareness training and clear policies and procedures for handling sensitive information.
• Ensure compliance with regulations and standards, make sure that you understand your compliance requirements and work with your MSSP to ensure that you are meeting those requirements. Overall, working with an MSSP can be an effective way to protect your business from cyber threats. By following these best practices, you can ensure that you are getting the most out of your MSSP engagement and that your network and systems are adequately protected.

How to Protect Your Business from Cybersecurity Threats in 2023?

In 2023, protecting your business from cyber security threats is more important than ever because cyber threats continue to evolve and become more sophisticated. Working with an MSSP (Managed Security Service Providers) can be an effective way to safeguard your business against these threats. Here are a few steps that you need to follow:

• Conduct a security assessment: Start by performing a security assessment to identify potential vulnerabilities in your network and systems. A Managed Security Service Providers can help you with this by conducting a thorough security audit and identifying any weaknesses or gaps that need to be addressed.
• Develop a security plan: Based on the findings of the security assessment, collaborate with your MSSP to develop a detailed security plan that includes regulations and procedures for preventing and responding to security incidents.
• Implement strong access controls: One of the most important steps you can take to protect your business is to implement strong access controls, such as multi-factor authentication and role-based access controls. Your Managed Security Service Providers can help you set up and manage these controls to ensure that only authorized users have access to your network and systems.
• Monitor your network and systems: A Managed Security Service Providers (MSSP) can offer round-the-clock network and system monitoring, using advanced tools and technologies and technologies to quickly identify and address security events.
• Stay up-to-date on security threats: Cyber threats are constantly evolving, so it’s important to stay up-to-date on the latest threats and trends. Your Managed Security Service Providers can provide ongoing threat intelligence and keep you informed about any emerging threats that may affect your business.
• Peace of mind: When you outsource to a SOC as a Service provider, you can relax realizing that your cybersecurity is being handled by skilled analysts. The reliability of in-house cybersecurity tends to be lower, and it might be challenging to select the best candidates for your company’s requirements.
   

Top Managed Security Service Providers

1. Cipher

Cipher Managed Security Services (MSS) deliver a diversified portfolio of 24/7 SOC services to meet the demands of a wide range of organization’s through a tailor-made approach working with client provided legacy technologies as well as Cipher provided technologies.

2. Trustwave

Unlike other options on this list that also offer general IT services, Trustwave is solely a security provider.

3. Cybervie

At Cybervie, we go above and beyond managed security. As employees are the target of most cyberattacks, it’s important that all of your company employees are able to recognize malicious activity and understand how to respond. Cybervie provides Cyber security Awareness for employees.

4. Broadcom

Symantec Enterprise Cloud by Broadcom (a global technology infrastructure provider) offers a number of managed security services.

5. SecureWorks

SecureWorks provides data protection and cybersecurity to mid-sized businesses (SMBs) and enterprises.

What Kinds of Services Do MSSPs Provide?

Top MSSP providers have a range of services to help businesses protect themselves from cyber threats. Here are some of the most common services provided by MSSPs:

• Threat monitoring.
• Vulnerability management.
• Incident response.
• Compliance management.
• Security awareness training.

Overall, Managed Security Service Providers have a comprehensive suite of services to help businesses protect themselves from cyber threats, including threat monitoring, vulnerability management, incident response, security assessments, compliance management, and security awareness training.

Working with an MSSP can bring a range of benefits:

• Expertise and experience: An MSSP employs a team of security specialists who have vast experience in defending enterprises against cyber threats. You can take advantage of their knowledge and experience by partnering with a managed security service provider instead of hiring and training your own internal security team.
• Advanced security technologies: Advanced security technologies are used by MSSPs to monitor and secure your network and systems. You won’t need to spend money on pricey hardware and software by partnering with an MSSP to get access to these technologies.
• 24/7 monitoring and support: A Managed Security Service Providers provides 24-hour monitoring and support, so you can be assured that your network and systems are secure at all times. If a security incident occurs, your MSSP can provide immediate assistance and help you in effectively and quickly handling the situation
• Cost-effective: Collaborating with an MSSP is a cost-effective way to secure your organization against cyber threats. Rather than investing in costly security systems and hiring a full-time security team, you can pay for the services you require through a subscription model.
• Compliance and regulatory support: MSSPs support the businesses to ensure that they are compliant with industry regulations and standards, such as HIPAA, PCI DSS, and GDPR. By working with Managed Security Service Providers, you can benefit from their expertise in these areas and ensure that your business is meeting all necessary compliance requirements.

Overall, working with a top MSSP providers can help businesses protect themselves from cyber threats, while also reducing costs and ensuring compliance with industry standards.

The Benefits of Working with a top MSSP providers vs. Building an In-House Team.

However, if you do not have the time to create, hire and train a whole SOC team, or you do not have the budget for such a venture, an MSSP is a more realistic option that can provide the same results and save you time and money in the process.

• The benefits of partnering with a top MSSP providers includes:
• Less training costs
• Fewer investment costs
• No risks of unexpected costs
• It offers you a good balance of human and tech support:
• Experts SOC analysts
• Round the Clock Service.
• Rapid Response and SLA.
• Disaster Recovery.
• Continual Support.
• Regular reports
• Peace of mind
• Realistic Budget.

Building an In-House Team

Creating a SOC can be an appealing idea for organizations with a bigger budget. Building your own SOC will provide you a lot of autonomy and control over how you want your SOC team to operate and the features used to support your business, provided you have a sizable budgetary plan

Your own SOC team

Pros:

• You need significant initial investment in technology, people, and processes in order to realize a return on investment.
• Logs can be managed, analyzed, and archived more easily if they are kept locally in your own repository.
• You’ll need a dedicated team that builds experience and grows your cybersecurity capabilities over time.

Cons:

• Experienced SOC analysts are hard to come by, especially in light of the global cyber skills shortage.
• Subscriptions to threat intelligence can be costly, especially if you want a huge number of feeds. It also introduces challenges in parsing.
• Creating your own SOC team requires a large initial investment and a steep learning curve.
• Licensing Fees
• Setting up Costs
• Operating Costs

Top Questions to ask your MSSP, if you’re concerned about Cyber Security.

• How will you help me to achieve my cyber security goal?
• How will you give me the visibility I need to be confident that you’re making the right decisions for my organization?
• Can you tell me about your security team experience & credentials?
• What are your security policies and procedures?
• What is your typical SLA and incident response plan?
• How do I know the service is working and keeping my organization secure?
• What is my exit strategy?

Conclusion:

There is no doubt that deciding whether to build an internal SOC, opting to partnering with Managed Security Service Providers, or deciding to introduce both to your organization can be a challenge that will involve hours of research and discussion.

In today’s world of cyber-attack, protection is needed to track these threats in the shortest amount of time while saving as much money and time as possible. While doing it all on your own is often expensive and time-demanding, working with an MSSP can save you lots of money while executing the processes better. Whoever you chose to work with, ensure that the provider meets your needs and can be fully trusted with managing your sensitive and confidential data.

If you wish to discuss this with some of the most security professionals then contact us. Discover how Cybervie can help you with your Managed Security needs.