Data

Chris Swagler | February 28th, 2022

 

Uptime and productivity are vitally important to businesses, and Managed Service Providers (MSPs) are constantly monitoring and managing their clients’ networks and data to prevent any related disruptions from arising. While MSPs may have started out focusing on traditional IT issues, security has become a more central service. Ransomware attacks and major data breaches are always making news headlines and organizations are increasingly aware of security risks and compliance regulations.

Securing Client Data Can Help Increase Revenue

Companies understand that one data breach can destroy their finances, productivity, and reputation. As small and medium-sized businesses (SMBs) are increasingly outsourcing their IT services to MSPs, these larger providers have become a major target for cybercriminals. Given that MSPs have complete access to sensitive data belonging to multiple businesses across a variety of industries, this should come as no surprise. Now is the time for MSPs to continue building a solid security reputation and remain one step ahead of the competition and threat actors. MSPs that don’t’ reinforce their security posture to address all phases of the threat life cycle are at a significant disadvantage for several reasons:

  1. A single data breach can cost MSPs their entire business and reputation because of lawsuits and related damages.
  2. Businesses want a service provider with strong security they can trust.
  3. Security is becoming a strong source for MSPs to increase recurring revenue.

MSPs thrive by establishing a solid security reputation, educating their customers on business risks, and providing genuine value. MSPs can use cyberattack threats as an opportunity to expand their business and differentiate themselves in a crowded market. Customers will be grateful when their computers are protected from malware, and word-of-mouth will spread as a result. MSPs can provide true value by evolving to protect their clients against the current threat landscape.

Cybercriminals are showing no sign of slowing down. Ransomware is evolving at an alarming rate and antivirus software and other traditional solutions can no longer keep up. The issue is that many MSPs focus on replacing their antivirus every time it fails. Changing an antivirus is like changing a house alarm every time a robber breaks in. Instead of changing the antivirus software hoping it will detect the next cyberattack, install stronger security measures to prevent criminals from entering in the first place. By adopting a zero-trust strategy and incorporating application whitelisting, ringfencing, and storage-based policies into the stack, MSPs can effectively harden their environment and protect against ransomware and malicious attacks.

Building a great relationship with customers is the ultimate way for MSPs to secure continued business and build their brand. Every strong customer relationship revolves around one central concept: trust. Additionally, once MSPs have established trust with their customers, they can maintain a positive relationship for many years. However, an MSP’s most important requirement, if they want to convince customers they’re trustworthy, is a secure and dependable security software tool kit.

Whether people are just starting an MSP business or have been operational for decades, SpearTip can assist MSPs in protecting themselves and their clients’ data against costly cyberattacks. Our ShadowSpear Platform provides effective protection and scalability for MSPs and their clients from various threats, including compromised email accounts and full-scale ransomware attacks. With our Security Operations Centers (SOCs), the platform constantly monitors the environments of MSPs and their clients while our certified engineers actively respond to and remediate any attack 24/7/365. When clients trust MSPs with their IT services, they can establish strong, lasting, mutually beneficial relationships.

If your company is experiencing a breach, call our Security Operations Centers at 833.997.7327 to speak directly with an engineer.

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