PRAXIS DATA FINANCIAL Vol.1 December | Page 3

P.3?|?The Business Value of Managed Security Services ? White Paper If organizations choose to own, manage, and maintain security systems in-house, they face significant capital, licensing, and maintenance costs at a time when budgets are decreasing. Many organizations fail to take into account the expertise and time required to manage these systems effectively. The compliance burden and risk falls on the internal team. They find themselves trying to architect and manage network security with insufficiently trained IT generalists, or engage higher-salaried security specialists, which further drives up their total cost of ownership. In-source and your costs go through the roof, but you have control. Outsource and your costs go down, but the perception is you give up control. Will either option drive regulatory compliance costeffectively and without so much effort? Is there a better solution to this vexing problem? Managed Security Service Providers – The Answer? Outsourcing security—both professional and managed services—has become a viable and attractive option for many organizations, as indicated by industry growth trends. In large measure, the market now accurately perceives that outsourcing security services can be accomplished securely. In addition, either subscription-based or as-needed service delivery models can result in substantial cost savings. Such savings typically go hand in hand with a significant improvement in the security posture of the organization, as security experts manage and monitor these systems 24x7x365 and can quickly optimize solution performance. Further, outsourcers are generally experts in compliance as they architect and manage compliance solutions for hundreds, if not thousands of clients. But a key question remains for executives: By outsourcing are you giving up control? The answer is no. Many confuse the concept of control with the concept of execution. Leading managed security service providers (MSSPs) work closely with their clients to implement and proactively manage network security to meet specific and often unique client requirements. MSSP analysts respond to clients 24x7x365 and work with them on a daily or even hourly basis in creating and updating security policy and configurations. The client passes off the execution of security issues to the MSSP, without relinquishing control over their network. The service provider is generally an expert in the field and is able to define a reasonable set of requirements that are common to organizations and that result in compliance with industry regulations. Such best practice activities should be integrated with the client’s unique requirements to create a managed service model that works for both parties and ultimately achieves the mutual goal – a more secure, compliant, and cost-effective network. Many in-house IT and security specialists resist outsourced managed services believing such solutions diminish their roles and may even result in the elimination of their jobs. In the vast majority of cases, in-house security and IT personnel become even more productive. They are able to focus on strategic projects that better leverage their expertise. This better utilization of key internal resources often leads to better results for the organization. The fear of professional obsolescence is very real, but should not be an impediment to senior management leading the charge for optimizing solutions. Careful, prudent management can lead to a win for the team members, the company, and the leader. MSSPs excel in three major areas – providing a costeffective, robust security solution; enabling 24x7x365 access to highly-skilled network security experts; and providing in-depth experience with regulatory compliance. These benefits are substantial in light of the enormous network security challenges organizations face today. 856-679-2256 praxisdatafinancial.com Corporate Headquarters Praxis Data Systems, PaintWorks Corporate Park, 4 Foster Ave., Gibbsboro, NJ 08026 © 2013 SilverSky. The trademarks used herein are either trademarks of SilverSky, or trademarks of their respective owners.