Managed security services providers (MSSPs) can develop digital trust to differentiate their offerings in a highly competitive global marketplace, according to a new report from HfS Research.
The "HfS Blueprint Report" evaluated the following MSSPs:
- CSS Corp.
- Tech Mahindra.
The report highlighted four trends in the managed security services space. They included...
1. Rising Demand for Predictive Analytics
Analytics play a key role in security services today, HfS noted. However, MSSPs need to move toward predictive analytics, or risk falling behind the competition, HfS pointed out.
Predictive analytics enable MSSPs "to help clients mitigate new risks and incidents that perhaps aren't found in traditional ways," HfS stated.
In addition, predictive analytics empower MSSPs to keep pace in constantly changing security environments, HfS said in a prepared statement.
2. Integration of Security into Everyday Business Operations
Security must be integrated into all aspects of a business, HfS noted. As such, MSSPs are responsible for teaching customers about all aspects of security and incorporating security into businesses' day-to-day operations.
"Tying security into business operations helps move (MSSPs) into a value-creation role and to drive improved customer experiences," HfS stated.
3. Cyber Risks Are Increasing in Size and Severity
Businesses want managed security services to help them prevent, monitor and mitigate cyber threats, according to HfS.
Meanwhile, MSSPs must find ways to develop and enhance their security offerings and ensure these offerings can be used to detect and address rapidly evolving cyber threats, HfS pointed out.
4. Cybersecurity Talent Shortage Plagues MSSPs
Cybersecurity is an exceedingly complex landscape, and the competition for cybersecurity talent is fierce, HfS indicated.
Many MSSPs rely on standard job candidate recruiting and talent retention best practices, HfS stated.
Conversely, the top MSSPs go above and beyond the call of duty, HfS said, to ensure they have sufficient talent "to serve clients and mitigate the cannibalism that happens in security services talent pools."
Digital Trust: Here's What You Need to Know
Ultimately, digital trust may make or break an MSSP, according to HfS.
Digital trust represents "the foundation for transforming businesses into customer-focused, experience-sensitive firms," HfS stated.
MSSPs that understand the importance of digital trust will be able to transform cybersecurity from a siloed, "protect the perimeter" function into an integrated part of their business strategies, HfS said. This can help MSSPs build their security skills and expertise, HfS said, to make security a differentiator and use it to deliver outstanding customer experiences.
Meta Description: HfS Research report highlights leading managed security services providers (MSSPs) & several key trends in the global managed security services market.