According to Gartner, the managed security services market is growing by more than 9.5% every year and has already surpassed $10 billion mark in revenue. The market has continued its strong growth as managed security services have become popular among businesses to secure critical assets and data. Managed security services bring with them various benefits such as superior protection at lower costs, top security experts, advanced technology and reliable support. Hence, delegating cybersecurity to managed security services providers allows companies to achieve high levels of security without losing focus on achieving business goals.
Nevertheless, managed security services providers have their own complexities and challenges in managing numerous clients, i.e.; scaling operations, monitoring and resolving incidents in an efficient manner, a crowded market with tough competition, need to constantly improvise, differentiating offerings, increasing transparency to improve reporting and support compliance, etc. The day-to-day life of security analysts at managed security services providers is very tedious as teams are usually understaffed and nevertheless expected to monitor tidal waves of daily alerts from a variety of different customers. managed security services need to integrate, automate and orchestrate elements of their service delivery so that they can consistently deliver high-quality services efficiently at a high-margin.
Let’s see how orchestration and automation alleviate these pain points and helps achieve improved managed security services and increase efficiency:
- SOC Automation: Machine learning and artificial intelligence technologies can be called upon to enable managed security services to increase the number and size of clients they can support all while lowering operating costs. SOC automation and orchestration will also enable analysts to focus on complex problem solving by alleviating them of the need to vet through low-level tasks that can be automated.
- Improve Metrics: Managed security services providers can exponentially improve metrics like mean time to detect (MTTD), response time (MTTR), number of escalations, number of incidents resolved per shift, etc. We have witnessed time and again how implementing the right set of tools can help managed security services achieve as much as a 90% reduction in incident response time.
- Centralized View, Playbook Orchestration and Centralized Response (Unified Platform): Security orchestration and automation response (SOAR) solution needs to automate incident response playbooks. This approach will help analysts quickly and accurately work through the playbook steps to ensure standards are properly implemented, handed off between team members and shifts and standardize the process. The SOAR solution also fetches alerts from various IT and OT systems like SIEM logs, Ticketing, Email, CRM, Helpdesk, UEBA and many more. This helps combine all incidents, case management, analytics in a single dashboard. Having a centralized dashboard for all clients with key metrics is a big advantage for analysts to help them prioritize and respond to incidents in an optimal way.
- Enrich Alert Data for Better Alert Triage: One of the capabilities of SOAR solutions is to accelerate the enrichment process and categorize threats to enable rapid response. This will help organizations effectively respond to the deluge of alerts from tools such as UEBA and SIEM.
- Better Scalability, Productivity, and Customer Experience: Finally, advantages like the ability to scale operations, better productivity for analysts, improved customer experience in terms of visibility and confidence in the delivery of services are extremely helpful for managed security service providers aiming to grow their customer base.
Cyberbit Managed Security Services Provider Program
Cyberbit’s MSSP program provides a fully integrated technology stack, enabling managed security services providers to expand their offering, increase revenues, streamline, and scale their operation. Cyberbit has a diverse portfolio with four integrated technologies: SOC Automation and Orchestration, End-point detection and response, OT Security for critical infrastructure, and Cyber Range training and simulation. We have been trusted by multiple managed security services providers worldwide because our solutions are designed with MSSPs in mind. We have capabilities like out of the box multi-tenancy, SLA Reporting, easy rebranding, and Win-Win MSSP business models which makes it worth the investment.