Managed security is a service (MSS) where an external provider sets up and maintains the security for another company. One might think of it as outsourcing, but unlike outsourcing, the hiring company does not reduce its IT component. Instead, it hires an external service company that has the greater experience and wider contacts to manage the vital aspect of network security.

Solutions for Every Industry

Services for managed security come in a wide range of packages, depending on the needs of the client or industry and the nature of the enterprise. For example, in the health care or banking industries, data privacy is paramount, but in industrial firms, more concern may rest on keeping development details or expansion plans secure. The approach for the managed security of these two very different situations will have various scenarios.

The Importance of Managed Security

Small and medium-sized businesses may not have the confidence or expertise to manage their network security, making them vulnerable to cyberattacks. “Last year a total of 1,244 reported data breaches in the US, according to a recent report by the no-profit Identity Theft Resource Center. This doesn’t even include the 1.26 billion non-sensitive records that were also exposed,” according to Techradar.

In another report conducted by IBM Security and Ponemon Institute, it was revealed that the average cost of a data breach to the affected company is $3.68 million, an increase of 6.4% from the previous year. This cost includes activities such as detection, escalation, post-breach response, and notifying the individuals whose data were compromised. The biggest cost was the loss of business, which encompassed business disruption and revenue losses from system downtime, lost customers, acquiring new customers, loss of reputation, and reduced goodwill.

Are you wiling to contract losses?

How Does the Process Begin?

After you select a competent firm for your security, you can expect the firm to first analyze your situation to determine your needs. Considerations cover a variety of areas, including:

  • The state of your network and its vulnerabilities
  • Staff awareness of their responsibility in overall security
  • Your connections to the cloud environment
  • Adequate business continuity and disaster recovery protocols

From this initial assessment, the security experts will devise a pathway to shore up vulnerable areas in your existing infrastructure and develop robust security protocols for your future.

Your Options

There are two basic methods for partnering with your security experts: fully managed and co-managed security service. Which one is for you?

  1. A fully managed security service is suitable for a company that wants to obtain a high level of security for a reasonable fee. In this circumstance, the security service provider owns all the required technology, monitors your network for intrusions, develops a plan to foil cyberattacks.
  2. The co-managed system is a good fit for an organization that has put some network security measures in place but requires additional resources to manage and monitor the technology. It is also possible to transform your operation into an in-house department as your partner security expert trains your staff on the latest techniques. It is also possible to plan for a 24-hour, week-long monitoring schedule.

Managed Security Services

“Malware and ransomware are both on the rise according to new global figures from the security firm SonicWall. The cybersecurity company detected a 44 per cent increase in the amount of malware infecting users’ machines between January and October of this year (2018),” according to Techradar. As companies become aware of these alarming statistics, they are turning to managed security service providers who will:

  • Actively Hunt for Threats

Instead of waiting for an alert, the security service provider will actively monitor and search your network for suspicious or unusual activity, an activity known as threat hunting. It takes skilled and experienced analysts to recognize and contain potential threats.

  • Gather Security Intelligence

The security provider will constantly review open and private sources for the next type of threat in the horizon and determine how this will impact your business before your business is affected. Defense mechanisms can be established before any damage occurs.

  • Ensure Compliance with Regulatory Standards

Since threats are continually evolving, it is difficult for many businesses to keep up with regulatory standards. Service providers are certified in various aspects of managed security to help them understand the impact of the latest strategies.

  • Provide Constant Security

Many businesses cannot afford to employ staff to maintain this level of vigilance. A service provider stakes its reputation on constant surveillance and immediate response.

  • Employ State-of-the-art Technology

The MSS provider can afford to upgrade the software and hardware on a more regular basis than most businesses as their entire focus is security and can spread the cost among many clients.

  • Allow You to Focus on Business

With the right service provider taking care of your security matters such as vulnerability management, antivirus updates, firewall setup, and software and hardware upgrades, you have the time and energy to focus on your business.

How Can NST Help?  

Nobody can doubt the importance of a disaster recovery plan for a business. It is an essential document that every business should possess. To draw up your business continuity and disaster recovery plans, consult a service provider with proven expertise. Choose one with a track record for reliability and accountability for safeguarding your employees, assets, sensitive data, and core operations.

At NST, our team of IT experts are well-versed in their respective work and will make sure that you get back in business in no time with minimal loss to the operations of your business. To learn more about disaster management and recovery operations, contact us today.

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