Saving MSPs’ time and money

Smart Cybersecurity Handbook 2022 Cyber Security

Acronis has released research conducted by VansonBourne showing that consolidating and integrating cybersecurity, backup and disaster recovery (DR) services produces US$ 229 159 in savings on average and reduces the time required to recover from a breach or data loss incident by an average of five hours.

In conjunction with ChannelPro Network, the survey of 400 managed service providers across the globe, titled MSPs Speak: Cybersecurity and the future role of the MSP, dives deep into the biggest challenges and opportunities that MSPs (managed service providers) currently face when providing cybersecurity, backup and disaster recovery services. Available as a free download (use the short link*acronis1), the report focuses on critical issues like cybersecurity attacks, ‘vendor sprawl’, remote work environments and the use of SaaS tools by clients.

MSPs feel vulnerable and a lack of trust abounds

Data from the study underscores why MSPs urgently need the efficiency gains vendor consolidation makes possible, beginning with today’s dangerous threat landscape. Given the recent flurry of supply-chain attacks seen in the MSP industry, it is not that surprising to learn 96% of MSPs are concerned about suffering a cybersecurity breach in the next 12 months.

This sense of vulnerability is amplified by a lack of trust in two directions: 49% of MSPs responded that their clients do not completely trust the security of the services their organisation provides, while 53% of MSPs do not completely trust the vendors they use to provide cybersecurity services.

To combat this sense of vulnerability, many MSPs have added additional tools to their technology stack. MSPs use an average number of four vendors to provide cybersecurity, backup and/or DR services, with 30% report using more than five vendors.

The role of SaaS management

MSPs report that their clients use an average of 14 SaaS tools, a finding very consistent with recent Acronis end-user research (short link:*acronis2). However, MSPs also report only managing an average of 58% of their clients’ SaaS tools, with only 3% indicating they manage 100%. This discrepancy results in greater vulnerabilities for clients, because SaaS data is not being properly protected and the MSPs have limited visibility into these environments. However, there is a huge potential for growth for service providers if they are able to prove to their clients that there are benefits to them managing the licences, on-boarding, security and performance of these SaaS applications.

MSPs report that the biggest obstacles to managing more of their clients’ SaaS tools are not having the right relationships with line of business decision makers (44%), not having the right tools (41%) and a lack of trust (39%).

More tools, more problems

Unfortunately, deploying technology tools against a problem does not make it go away. In fact, the resulting ‘tool sprawl’ can and does create a new set of problems. According to the results, the two most commonly faced challenges are the integration of security offerings with existing business and IT systems (40%) and security workflow and process creation and updates (37%).

In addition to integration, training, documentation and workflow challenges created by more tools, there is a glaring cost concern. Over the past two years, the average cost of providing cybersecurity, backup and/or DR services has increased by 19%. However, 71% of MSPs report struggling to demonstrate the value of these cost increases to their clients, which creates a serious dilemma and pressure on profit margins.

Benefits of consolidation and integration

Given the reported tool sprawl among MSPs and corresponding integration, workflow and cost issues, it is not surprising that 92% of MSPs report having consolidated vendors and 70% plan to consolidate further due to the substantial savings they’ve realised from lower licencing costs, training costs and employee documentation costs and the hours of time they save when recovering from incidents.

Further time and money savings can surely be realised, as 41% of MSPs indicate they want to see the automation of backup and recovery tasks more tightly integrated into their cybersecurity services to address the ongoing and pervasive threat of ransomware more adequately.

The results from this research are clear – MSPs are facing numerous challenges in providing cybersecurity services and simply throwing more tools at the problem is making matters worse, not better. As such, there is a trend towards consolidating vendors, as well as more tightly integrating existing vendors with workflows and those MSPs which are successful in these efforts will have a material advantage over their competition.

Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

Dashboard for streamlined ransomware recovery
Cyber Security
The new CyberSense interface provides intuitive post-attack forensic reports that provide powerful insight into data corruption due to a ransomware attack, facilitating ransomware recovery.

You have a ‘super malicious insider’
J2 Software Cyber Security
There’s a super malicious insider who is technically proficient and often acutely aware of an organisation’s technical limitations in proactively detecting insider threats.

Secret monthly fee
Kaspersky Cyber Security
Kaspersky researchers have observed fraudsters actively spreading Trojans, which secretly subscribe users to paid services, disguised as various mobile apps, including popular games, healthcare apps and photo editors.

Keep cloud-based security simple
Cyber Security
SA businesses have more mobile workforces now, which means a greater need for cloud security that follows data and users wherever they are amidst increase in cyberattacks.

How crypto cons work and how to protect yourself
Cyber Security
The digital gold rush is here. As more people attempt to make money from cryptocurrencies, criminals and con artists aren’t far behind, says Carey van Vlaanderen, CEO of ESET South Africa.

Ongoing cybersecurity with a click
Technews Publishing Editor's Choice Cyber Security Security Services & Risk Management
Maintain your cybersecurity posture with web services from Pretect designed to keep your IT infrastructure optimally protected 24 x 7.

The battle of AI and ML in the cybersecurity world
Cyber Security Products
The security industry is using ML/AI in various applications such as tackling huge volumes of malware, detecting spam and business email compromises, analysing network traffic, using facial recognition and more.

Cyber questions for today’s business
Cyber Security
Roberto Arico, Cybereason senior sales engineer for Africa, answers cybersecurity questions companies need to consider in the present risk landscape.

Exclusive Networks Africa expands security services
Cyber Security News Products
Exclusive Networks Africa announced a new partnership agreement with Infoblox to simplify complex distributed networking and security, by delivering modern, cloud-first networking and security services that automate and streamline user experiences.

How cloud computing affects businesses in RSA
Cyber Security
In order to optimise the benefits of data security in enterprises, cloud computing solutions must be considered as part of a comprehensive security strategy.