How MSP-SMBs benefit from security spending

Managed Service Providers (MSPs) play a huge role in keeping small and medium-sized businesses (SMBs) secure around the world, and with smaller organisations investing heavily in security this year, there are many businesses poised to step up. Despite sudden economic conditions bringing uncertainty to many corners of the business world, there is already plenty of data to show that small and medium-sized enterprises (SMEs) are ready to invest heavily in security in 2023.

Cyber ​​attacks are very important period for some people as it poise as a threat to business continuity. They remain at record highs and no target is too small for cybercriminals.

Furthermore, SMEs by their very nature are most likely to lack the skills and experience needed to fight and recover from a crippling attack.

The information security needs of SMEs are countless. MSPs are trusted to provide best-in-class support for procurement and implementation of various technologies. These can include identity and access management (IAM), endpoint security, business continuity and recovery (BCDR), phishing protection, and more.

The lessons learned from the Datto SMB Cybersecurity for MSP report can help all MSPs understand the current needs of potential customers and deliver their services in the most efficient way possible.

A Big MSP Opportunity

SMBs are completely satisfied with the tools they use to protect against attacks. The latest figures show that SMBs need reassurance that they can surf the web safely and reassurance that even if their employees are exposed to a particularly sophisticated phishing attack, the company's customers will not be harmed.

Phishing attacks are the number one reason why SMBs experienced security issues. More than a 37% of SMBs said they are comfortable that the attack ultimately leads to wider problems, and 72% believe they will be the victim of an attack in the next year. Malicious websites, weak password issues and cyber security training were some of the other biggest issues facing SMEs today.

With all of these threat vectors affecting businesses on a regular basis, this means that there are now many opportunities to demonstrate to customers the need for effective cyber security solutions. An MSP must be able to guide customers through their journey, fill their security gaps and show them solutions they can trust when the worst case scenario finally hits.

SMEs need more than products and solutions for their problems. They need a partner they can trust and who can provide truly reliable service and training that adds value. They need MSPs to ensure that the impact is minimal and that their disaster recovery (DR) plan is robust.

Only half of SMEs have the resources to fully manage their day-to-day information security needs. Companies that lack the ability to recruit experienced security personnel need an experienced MSP with up-to-date knowledge of the latest threats using best-of-breed tools.

Reason to fear

It's no secret that the cyber security environment is becoming more dangerous every year. Cybercriminals are constantly developing tactics and getting smart in their actions. Development takes a different form every month, and the latest trend to watch is attacks against cloud environments.

With so many vendors to choose from, all claiming to offer the best protection, SMBs now more than ever need a trusted partner to help them decide which tools are right for their organisation.

Phishing is still the main tool in the hacker's bag of tricks, but ransomware is also evolving and ever-present. Different groups often target indiscriminately. Hackers don't care who gets hit, they only care if they can pay.

Effective tools that allow organisations to restore their data from backups will be key to surviving a ransomware attack in 2023.

A lack of internal expertise often leads companies to look outside for help, and with the right tools and quality service, MSPs can be the hope that helps their customers to stay competitive and grow even through financial uncertainty.

In conclusion, a reliable cybersecurity system implemented and managed by real experts is essential for SMEs in 2023.