Selecting a managed security service provider (MSSP): 5 key factors to keep in mind

Telefónica Tech    18 October, 2022
Photo: Gorodenkoff/Shutterstock

An Managed Security Service Provider (MSSP) offers you a team of seasoned security experts that will work for you at a fraction of the cost of building your security team in-house. Previously these providers served only large-scale industries or businesses, but now many MSSPs offer their services to small as well as medium-sized businesses.

According to Gartner research, in 2021 the Managed Security Services (MSS) market grew 9.8% in U.S. Dollars, reaching $13.9 billion in revenue. The managed detection and response (MDR) segment witnessed a strong growth at 48.9% in U.S. Dollars. By 2024, more than 90% of buyers looking to outsource to security services providers will focus on threat detection and response services.

But not every business has the workforce to find and resolve vulnerabilities and threats. Selecting a qualified, good-fit MSSP (managed security service providers) is a challenge.

To help you choose a Managed Security Service provider, here are 5 things you should consider:

1. Managed Security Services Rankings

Managed security service providers offer diverse interpretations of what Managed Security is, making it difficult to directly compare what providers deliver.

Security and risk management leaders should recognize fundamental deliverables and align requirements to offerings.

To facilitate the comparison between the different MSSP, there are specialized rankings such as the one published by MSSP Alert: Top 250 MSSPs -2022 Edition. The results rankings are based on:

  • Annual recurring revenues
  • Profitability
  • Business Growth Rate
  • Cyber professional headcount
  • Managed security services offered
  • MSSP Alert’s editorial coverage of MSSPs worldwide
  • Third-party industry honors (ie Gartner, Forrester, IDC, etc…)

Telefónica Tech USA ranked 5th in MSSP Alert’s TOP 250 Global MSSPs list for 2022 published by MSSP Alert, a CyberRisk Alliance resource to identify the main providers of managed security services worldwide.

The curated list identifies and honor the top MSSPs  worldwide and will help enterprises evaluate and choose the MSSP that fit the most to their needs.

2. Simplify today’s cyber complex ecosystem

As security providers landscape has become a vastfield with multiple actors, enterprises looks forward to reduce the time spent in integrations, vendor selection and qualification, hence facilitate the decision-making process.

Having access to the best technologies and partners (and, thus,  delegating updates, patches, bug fixing, etc.) is key to success.

3. Peace of mind of trusting an experienced partner

Finding an MSSP partner who has the right expertise for your business can help you identify your vulnerabilities and mitigate quickly. Telefónica Tech is a Managed Security Services Provider (MSSP) with a heritage in managed services across data center, workplace, communications, and cloud.

As such, we have deep subject-matter expertise across the entire threat landscape and operate security as a core discipline, from advisory services through to managed security engineering and operations.

4. Proprietary threat intelligence, advanced technology, and standardized procedures

A managed security service provider (MSSP) provides outsourced monitoring and management of security devices and systems. Common services include managed firewall, intrusion detection, virtual private network, vulnerability scanning and anti-viral services.

Hundreds of MSSPs now offer MDR services — however, Gartner says customers should be careful about pretenders in the market that have incomplete offerings.

On the other hand, Telefónica Tech’s NextDefense Managed Service integrates Managed Detection and Response (MDR), Vulnerability Risk Management (VRM) and Cyber Threat Intelligence (CTI) with Digital Risk Protection (DRP) into a single solution that defends your cloud, corporate network, remote employees, digital assets, brand, and reputation.

5. Cost Control of your security operations and technologies

When deciding on which MSSP to use, your top priority should be to find an MSSP who is both budget-friendly and provides value for your money.

Great MSSPs will provide customizable pricing, with tailored solutions, specific to your business needs. Picking and choosing specific services can help you keep your budget contained and avoid paying for unnecessary products.

Selecting an MSSP such as Telefónica Tech provides the technology, the experts and the processes at a fixed and predictable monthly cost and SLA without CAPEX investment needed.

🔵 Interested in talking to an expert? Contact our team.

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