{"id":48215,"date":"2022-08-30T00:00:00","date_gmt":"2022-08-30T00:00:00","guid":{"rendered":"urn:uuid:53c0797e-c5fa-96bb-dd82-0702ab145f58"},"modified":"2022-08-30T00:00:00","modified_gmt":"2022-08-30T00:00:00","slug":"cyber-security-managed-services-101","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/cyber-security-managed-services-101\/","title":{"rendered":"Cyber Security Managed Services 101"},"content":{"rendered":"

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MSPs can also perform regular testing of backups<\/a> and disaster recovery plans to ensure that the most effective processes, procedures, and policies are in place when an attack strikes. Lastly, they can provide ongoing cyber awareness training to address user-specific paths like phishing and poor security hygiene, if contractually obliged.<\/p>\n

Cyber insurance<\/b><\/p>\n

No longer a nice-to-have, cyber insurance is an absolute must for organizations of any size. Unfortunately, an uptick in ransomware attacks and costly extortion demands has caused cyber insurance carriers to tighten requirements and even introduce new mandates. The swift changes to the cyber insurance market<\/a> have left some businesses confused on what they need to obtain or renew coverage. And since you only have one attempt at applying for cyber insurance with certain carriers, you need to have your ducks in a row.<\/p>\n

Some MSPs are quite familiar with the cyber insurance procurement process and can help businesses vet potential carriers. They can also assist in ensuring you\u2019re leveraging the correct technology<\/a> and best practices to meet minimum requirements. to A truly savvy MSP could provide guidance on how go above and beyond with innovative technologies and solutions, which could potentially impact the cyber insurance quote.<\/p>\n

Considerations when evaluating MSPs<\/span><\/p>\n

Think of shopping for an MSP like choosing a car; usually you\u2019d have a rough idea on what model you need (compact, SUV, minivan), features you want (heated seats, sunroof), and price range all based on your needs and budget.<\/p>\n

Similarly, you need to evaluate your budget, existing resources, and security needs so you can make an informed decision when shopping around for an MSP. The more you understand your current state including weaknesses and future goals, the better-positioned you will be to craft a satisfactory contract with your MSP. One size does not fit all.<\/p>\n

The Cybersecurity and Infrastructure Security Agency (CISA) created the Risk Considerations for Managed Service Providers<\/a> report to help businesses strategically select the right partner. The framework is composed of the following three components:<\/p>\n

Strategic decision making<\/b><\/p>\n

CISOs and security leaders need to balance cost with effectiveness when considering MSPs. For example, if you\u2019re hiring a cook, do you have the budget for them to bring their own farm-to-table, organic ingredients, or will you provide what they need at a cheaper cost.<\/p>\n

Furthermore, will the chef be responsible for cleaning the kitchen afterward, or will you be? Establish specific security roles and responsibilities for internal teams, the MSP, and both parties, to ensure maximum efficiency without disrupting workflows.<\/p>\n

Next, evaluate your existing security tech stack and organizational capabilities. What security gaps and risks do you need the MSP to help address? If you want a chef to make brick oven pizza at home, do you have the right appliance, or will they need to bring their own?<\/p>\n

Similarly, if you want the MSP to enhance detection and response, do you have a unified cybersecurity platform<\/a> in place with XDR capabilities, or are you still using siloed point products? Or does the MSP need to integrate their own tech into your existing ecosystem?<\/p>\n

Lastly, whatever gaps and risks are surfaced during this process need to be fully addressed to improve your security posture, whether you go with an MSP or not. These adjustments will come with a price tag, which can further assist you in establishing a budget and avoiding \u201chidden costs\u201d that may be blamed on the MSP. When estimating fees, make sure you consider the upfront and ongoing costs of implementing new technology.<\/p>\n

Operational decision making<\/b><\/p>\n

A disorganized approach to procurement and security operations will increase cost and supply chain cybersecurity<\/a> risks. To avoid this, clearly articulate requirements in a contract and ensure your thoroughly vet the MSP by requiring the following prior to entering an agreement:<\/p>\n