Where’s the Tipping Point? 6 Signs It’s Time for an MSSP

The threat of a cyberattack looms large over businesses of all sizes in every corner of the globe. For some organizations, tackling their security needs in-house is doable. But for many companies the scale, complexity, and stakes of cybersecurity demand specialized expertise, around-the-clock protection, and advanced threat hunting, detection, and response capabilities simply not attainable with their internal staff.

Rather than compromising on security, organizations looking to achieve their identified security outcomes are turning to a managed security service provider (MSSP). But how do you know when it’s time to make the switch from relying solely on your in-house team to a collaborative security strategy with an MSSP? Here are six key indicators that your business may be approaching the tipping point.

1. Increased Frequency of Security Incidents

As your business expands — adding new web applications, APIs, and employees — your attack surface grows. If you’ve experienced a rise in the frequency of security incidents, whether from multiple phishing attempts to a potentially devastating ransomware sequence, it’s a clear sign that your current security strategy may not be sufficient. An MSSP can offer advanced threat detection, monitoring, and response services, providing your business with around-the-clock protection and reducing the likelihood of a catastrophic breach.

2. Complex Compliance Requirements

PCI DSS 4.0, HIPAA, GDPR, GLBA … these are just a snapshot of compliance mandates on a global and national level. Combine these with the growing number of state and even local cybersecurity-related compliance issues and navigating them successfully can be overwhelming even for fully staffed internal security teams. And if you’re in an industry with especially stringent regulations, such as healthcare, finance, and e-commerce, the regulatory labyrinth can be a constant battle.

Maintaining compliance with one or a myriad of regulations not only ensures your organization will not be facing financial penalties or potential lawsuits, but it’s also essential for maintaining a positive brand image, qualifying for contracts, and securing cyber insurance. Partnering with an MSSP can streamline compliance efforts, ensuring your organization meets necessary regulatory requirements while safeguarding customer data’s security, availability, integrity, and privacy.

3. Limited In-house Expertise

With nearly 4 million cybersecurity openings unfilled in 2023 and perhaps more still in 2024, finding and retaining experienced security professionals is a significant challenge. In 2023, 87% of business leaders said they experienced a breach they can “partially attribute to a lack of cyber skills.”

When an IT team is stretched thin or lacks the deep security expertise needed to tackle today’s threats, it’s a strong indicator that collaborating with an MSSP could be beneficial. A managed security service provider brings a wealth of experience and a deep bench of experts solely focused on cybersecurity, allowing your internal team to concentrate on other critical functions.

“In working with an MSSP like Fortra, an organization’s cybersecurity strategy goes beyond just staff augmentation,” explained Uday Banerjee, Fortra’s Vice President, Managed Cybersecurity Services. “In our customer collaboration, we are laser focused on driving the best security outcomes and the customer experience.”

4. Escalating Costs

Managing cybersecurity internally can quickly become a costly expenditure. Ensuring you have hired and retained highly skilled security experts, invested in necessary technology (which is not a one-time investment), have developed, evaluated, and refined processes, and are monitoring 24/7 can strain your budget. And adding in the cost of an internal security operations center (SOC), which is a crucial element of a successful security strategy, not only can be a budget-blowing exercise but the time needed to go from ideation to monitoring could be years.

An MSSP offers a more cost-effective alternative, with managed security services available through scalable subscription models. This allows you to tailor services to your specific needs without the overhead of maintaining an in-house team.

5. Lack of Threat Intelligence

Proactive threat hunting and real-time threat intelligence are critical for staying ahead of cyber threats. For internal teams, juggling their security and IT responsibilities plus finding time to perform proactive manual reviews of threat telemetry can be challenging.

MSSPs, on the other hand, prioritize threat intelligence as a core function. Fortra’s customers benefit from threat intelligence from the Fortra Threat Brain, an all-in-one information hub powered by telemetry from our expansive portfolio of products. With a proven track record and extensive research resources, Fortra’s team of top-tier threat intelligence experts deliver critical information to stay ahead in today’s evolving threat landscape. This threat intelligence helps customers improve their manage alerts, rapidly respond, improve their security posture, and enhance their security value.

6. Commitment to Continuous Improvement

While many organizations value continuous improvement, internal IT security teams often struggle to achieve it due to time and resource constraints. Unlike internal teams that often juggle multiple responsibilities, an MSSP is solely focused on cybersecurity, allowing them to continually improve their platform, processes, and protocols. Unlike an internal team that may be constrained by time and resources, an MSSP’s solutions and services will keep pace with the changing threat landscape.

“At Fortra, we’re committed not only to continuous improvement but also to constant collaboration with our customers as we know their identified outcomes can change over time,” Banerjee explained. “We are with our customers on every step of their journey as part of their team working to achieve optimal security.”

In an era where cybersecurity is paramount, partnering with a managed security service provider can be transformative. From expert knowledge and proven technology to cost-effective solutions and regulatory support, you not only enhance your security posture and peace of mind but also gain the freedom to focus on what truly matters — growing your business.

Are you considering an MSSP for your business? Explore Fortra’s Alert Logic to see how our superior managed security services, backed by an advanced platform and proven processes, can protect your organization.