Cybersecurity Drives Greater Reliance on MSSPs and MSPs
IDC envisions a “dramatic shift” over the next two years of institutional outsourcing to an MSSP. In fact, the use of MSSPs for cybersecurity purposes is expected to more than double to 29%, compared with 12% today.The study also found:“What these findings show is that the alternative investment market recognizes the value of coupling digital transformation and cybersecurity strategies, and firms are prepared to invest in such efforts, but struggle with execution due to obstacles outside of their control like staffing shortages. This presents an enormous opportunity for third-party vendors, such as consulting firms and managed services providers, to step into more of a strategic partnership with these institutions and help enable lasting change.”
Organizations Need Outside Cybersecurity Expertise
Threat monitoring, alerting and response is a time-consuming activity requiring specifically skilled and trained personnel, EDC says. However, given the industry-wide skills gap, organizations are exploring vendor managed security solutions as a more cost-effective approach. That allows in-house teams to focus on routine business and DX efforts.For that matter, the study found that 81% of organizations in North America and 81% in Europe indicated that cybersecurity consulting services are critical to digital transformation efforts.Philip Harris, Director, Cybersecurity Risk Management Services at IDC, added his perspective:“Digital transformation initiatives with embedded cybersecurity are top of mind for most industries due to the significant impact DX can have on a company’s profitability, growth and risk management. With security taking a critical role, companies are turning to outsourced resources to both scale initiatives and build or maintain a strong security posture in the process.”