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Reasons MSPs Will Not Survive Without A SOC
There are two staggering cash stats that should keep you up at night as an MSP :
1 . The first affects your clients ’ businesses . In 2021 , the global average total cost of a data breach was a staggering $ 4.24 million . Not only is that cost is going to rise , but also , as an MSP , YOU shoulder a huge responsibility for making sure your clients aren ’ t included in that jaw-dropping number .
2 . The second statistic affects your business . Over the next five years , the market for managed security services will increase from $ 22.8 billion last year to $ 43.7 billion in 2026 . That ’ s a LOT of revenue opportunity for you !
In order to grab ( and keep !) your part of the exploding market AND keep your clients out of the ever-increasing list of SMBs being devastated by expensive cyber-attack remediation , you must be on the cutting edge of offering progressive and all-inclusive cybersecurity solutions .
Because of this , having a SOC is no longer an option for MSPs today — it ’ s absolutely crucial for both your and your clients ’ survival . Here are four business-saving reasons you MUST include a managed SOC as a part of your solution stack .
1 .
Offload the round-the-clock “ threat watch ” anxiety that can causes crippling fear .
We know two things : 1 . Cyber threat actors don ’ t have “ work hours ” and will attack at any time , so CONSTANT watchfulness is mandatory to keep clients safe , and 2 . Without help , it ’ s impossible to monitor every possible open door , every second of every minute of every day . That ’ s what a managed SOC is for . They monitor for malicious activity 24 / 7 and keep the threat radar circulating . It doesn ’ t stop proactively hunting for threat indicators , no matter what .
2 .
Stop franticly recruiting begging and paying overspending on highly skilled cybersecurity talent — only to end up in an AWFUL position when they get recruited away .
MSPs spend a lot of time and money trying to find experienced candidates to internally hire for cybersecurity-related positions . Working with a SOC ensures you have access to security expertise at all times of the day without the time-consuming and financial burden of hiring for specific cybersecurity roles , just to have them swiped away by big corporations .
3 .
Keep your clients ’ money in their pockets ( and your clients staying with you ).
Dwell time is the amount of time a threat actor goes undetected after accessing an MSP ’ s network . The longer the actor is inside the network undetected , the greater the financial impact . Dwell time = Money , both your clients ’ AND yours . Implementing a SOC reduces dwell time and almost completely diminishes the financial impact of an intrusion .
4 .
Let the AI robots do all the hard work .
A SOC has the ability for artificial intelligence ( AI ) forensic investigation in the cyber world . That ’ s a sexy way to say that it uses data and evidence from previous cyber-attacks to create and proactively launch solutions for network vulnerability . Some of these capabilities include gathering data on active threats and filtering historical and real-time data so that you can document and create crisis plans . This means BETTER protection than what humans could develop on their own and implemented in a fraction of the time .
VOLUME 4 ISSUE 3 • MSPSuccessMagazine . com | 21