In 2018, the realm of cybersecurity became more complex and forced MSPs to evaluate their IT security offerings in order to better protect their SMB customers.
SMBs have increased awareness to cybersecurity threats, and we expect to see more SMBs investing in cybersecurity measures. Cisco recently reported over 50% of SMBs who fell victim to a cyberattack stated a loss of $500,000 or more. Most SMBs cannot withstand a financial loss of this scope, resulting in closure of their business.
In a recent survey conducted by CyberArk, nearly 56% of organizations stated phishing attacks are their largest cybersecurity threat.
An efficacy report by Webroot, stated the number of clicks on phishing simulation emails were cut in half when continual cybersecurity training was paired with phishing simulations. In relation, most SMBs are not following up on cybersecurity training, which is key in preventing such attacks targeted against employees.
In the ever changing landscape of cybersecurity, SMBs may feel they are constantly trying to play ‘catch up’ in order to protect their business. By partnering with an MSP, business owners can rest assured knowing they have preventive measures in place through continual employee training programs and cost effective solutions.
Surprisingly, hackers are now preferring cryptojacking, or crypto mining malware, in comparison to ransomware. Cryptojacking is a relatively new term within the cybersecurity realm, however, it is becoming one of the largest cyber threats today.
SMBs need to be particularly aware and prepared in regard to cryptojacking, as they begin to fall victim at an increasingly steady rate. Much like targeted phishing attacks, cryptohackers are able to invade access onto a user’s network through infected email links and related phishing tactics. Unlike ransomware, the hacker does not make their presence known. Without proper security measures in place, most users are unaware their device has been compromised, allowing cryptominers a host for mining operations for months.
As SMBs increasingly become target to cyberattacks and look to enhance security services, the gap within the skilled IT workforce broadens. This leaves MSPs struggling to find talented IT professionals. According to an article by CRN, the shortage of skilled cybersecurity workers is predicted to broaden by nearly 1.8 million workers by 2022, globally. The article also stated,
“The talent shortage is particularly hard on the SMB side of the market, the study found. It said only 23 percent of security professionals work for companies with fewer than 500 employees, although SMB companies make up the majority of the business market.” - Brian Wells
Because of the increasing gap, IT service providers are now investing more into educational training, constant recruiting, and are redefining the skill set needed to hire.
With an expected rise in 2019 of SMBs seeking out cybersecurity services, MSPs must continually research, investigate and vet new security services in order to stand out from other MSPs.
In 2018, Collabrance did this by enhancing our Master Managed Service Provider (MSP) offering to a Master Managed Security Service Provider (MSSP) offering. Our Master MSSP Offering protects our customers, and their SMB customers, through a 20+ layered security offering.
Some of the security services we vetted and added in 2018 included:
In 2019, we plan to expand upon our offering as we continue down our technology roadmap, strategically designed by our Product Development Team.
“We continue to expand our security offering, in order to do whatever we can to keep you, your systems and your data safe and secure from all the bad actors in the world that want to steal your data, steal your identity and make a quick buck off of you.” – Brian Wells
A few of the security services Collabrance plans to enroll in 2019:
Brian Wells, Director of Product Development, is responsible for the product and service offerings, and helping partners, team members, suppliers and stakeholders understand the program. Prior to joining Collabrance in 2015, Brian was the Director of Information Technology for two other Eastern Iowa organizations. In 1996, Brian started his own VAR and MSP business, and sold it in 2006. He has 30+ years of experience in the IT space. Brian joined Collabrance as a Tier 3 Engineer before being promoted to his current role on the Leadership Team.