As a business owner, you might often find yourself awake at night plagued by concerns beyond your control. At the top of this list lies the looming threat of cyberattacks, the daunting task of meeting compliance standards, and the financial burden of integrating cybersecurity into your daily operations.

The introduction of various security frameworks has offered you multiple approaches to safeguard your business; however, that’s like having a map without a clear destination—a helpful tool but lacking in completeness.

A Managed Security Service Provider (MSSP) can help your organization find the North Star on your map to cyber resiliency. MSSPs are focused completely on security: they have the expertise, specialized knowledge and tools required to successfully monitor and manage your organization’s security across systems and devices. This frees up your internal IT teams so they can focus on other high-priority projects and initiatives.

Of course, not all MSSPs are created equal. Before you embark on your search for an expert, you should take these three essential preparatory steps to find the right partner for you.

1. When seeking out a MSSP, start with the end in mind.

Start by clearly defining your desired outcome in terms of cybersecurity for your business. Determine the level of cybersecurity or certification that your business needs and understand the comprehensive process involved. While protecting against attacks and breaches is a given, there are other questions to consider:

What does your competitive landscape look like? 

Recognize that cybersecurity is increasingly a prerequisite for engaging with vendors and partners, compelling businesses to invest in security measures to remain competitive. Advanced cybersecurity measures can become a distinct advantage if companies in your sector have already implemented them.

Observe the significant push for small- and mid-sized companies to obtain third-party certifications or share their system security plans with their network. Stay informed about the evolving industry expectations.

You should conduct thorough research to identify valuable certifications in your industry or market. Understanding the certifications that hold significance can guide your cybersecurity decision-making process.

What regulatory compliance standards or contractual requirements must you uphold? 

Be aware that certain industries and state governments have specific cybersecurity standards or certifications that businesses must meet to comply with regulations.

In addition to understanding compliance standards, you should review your contracts and partnerships to identify any specific security requirements they have specified. Consider these requirements when determining the level of cybersecurity needed for your business.

You should also consult with your insurance agent, as cybersecurity insurance often requires a certain level of security implementation. Ensure your cybersecurity measures align with the insurance requirements to maintain adequate coverage.

By clarifying how cybersecurity will impact your organization’s  objectives, you can make informed decisions that allow you to stay laser-focused on your goals. Consider factors like competition, regulations, industry standards and partnerships to define your expectations and the requirements you’ll have of your MSSP.

2. Evaluate your current security setup.

To assess your security posture, you can utilize free tools and self-assessments or seek the more insightful feedback of an expert third-party evaluation. If you’re already aware that you need more essential components, like a formal program or policies, skip the assessment and engage a qualified service provider for immediate remediation.

If you’re actively working on cybersecurity but have yet to reach your desired level, refer to the 6-9-12 guide: 

• Within six months, enlist experts for technical aspects, policies, procedures and training.
• Within nine months, combine internal resources with professional guidance.
• Within twelve months, hire the necessary talent (or manage an audit for certification). 

Please note that this guide focuses on the timeframe for achieving cybersecurity compliance but doesn’t consider factors like company size, system complexity or budget. That’s why cybersecurity experts are invaluable. They can implement a sophisticated cybersecurity program that leverages specialized knowledge and dedicated tasks. In fact, cybersecurity experts typically commit up to 30% of their time to ongoing education, ensuring they stay on top of the latest news and trends in the field.

3. Determine your budget for a MSSP and how you’ll measure business impact.

Every business owner seeks fast and cost-effective cybersecurity solutions. However, proper protection requires time, expertise, and investment. Skirting rules to obtain certification without enhancing security poses severe risks, damaging trust and attracting scrutiny from regulators and insurers alike. Here are key services and products to prioritize:

Network Security

Spanning from anti-malware applications, intrusion prevention systems, email security gateways to data back-up and recovery, these devices provide network monitoring, detect threats, and secure remote access so businesses can prevent cyberattacks before it happens.

Costs may be one-time expenses during the purchase and installation process or recurring fees for maintenance and upgrades.

Endpoint Protection

Considered a first line of defense among cybersecurity solutions, endpoint protection systems are designed to detect, block, and avert intrusion threats within the network. Endpoint protection includes antivirus, firewalls, and email filtering to guard against typical attacks such as phishing, malware, and ransomware, which can significantly harm an organization. 

Regulatory Requirements

For businesses adhering to industry regulations, it is important to allocate a portion of the budget to meet the mandates imposed by regulatory authorities. In the Healthcare Industry for example, the Health Insurance Portability and Accountability Act (HIPAA) requires data classification and encryption tools to protect sensitive patient information and comply with HIPAA regulations. 

Training

Employees are regarded to be the most vulnerable to phishing schemes. According to research, earmarking funds for security awareness campaigns yields the greatest ROI. Employees’ understanding of cybersecurity threats is broadened via dynamic training methods and preventative drills, which act as an additional layer of security for organizations. 

Invest with Confidence

In today’s business landscape, cybersecurity is increasingly regarded as a necessary cost, like insurance, bookkeeping or payroll taxes. If cybersecurity has been keeping you awake at night, consider your investments in this area as the price for ultimate peace of mind and another cost of responsibly doing business. 

By allocating resources wisely and making informed decisions, you can safeguard your organization, protect sensitive data and mitigate potential risks, ensuring a secure and resilient future. 

If you’re interested in exploring how UDTSecure or our Managed IT Services can benefit your organization, we invite you to book a consultation with one of our experts. Together, we can strengthen your defenses and protect your valuable assets in today’s evolving cybersecurity landscape.