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PwC’s ‘Global Risk Survey 2023’ found that cyber threats rank as the top tech-related risk to business leaders, with 35% of Australian respondents feeling most exposed to them.

Smaller businesses often struggle the most with meeting cyber security needs due to limited budgets and skills. Even though the number of Australian tech workers increased to 935,000 in 2023 compared to 865,000 in 2022, this does not solve the problem of costs. Some SMBs bring on one staff member to handle cyber security, but it’s a lot of work for one person to take on and can lead to single-person failure should that team member take sick leave or a holiday.

Managed Security Service Providers (MSSPs) can plug this gap. They offer the latest expertise in cyber security and support without the struggle of building an in-house function from the ground up. As a result, smaller businesses can stay competitive and secure.

Growth of Australian technology workers

 

Growth of Australian technology workers

Source: Minister for Industry and Science.

1. Access a broad range of security expertise

In-house security teams often include a limited number of individuals, each with specific skills, which can lead to gaps in knowledge and capabilities, especially with the latest advancements in threats and security tactics. MSSPs bring together a team of experts with diverse skills and extensive experience across various specialisations. So, your business gains access to the right expertise exactly when needed, without the overhead costs of hiring and training new staff. 

MSSPs offer specialised capabilities that may not be available in-house, such as advanced cyber security skills, cloud security, and attack surface management. They also provide industry-specific knowledge and best practices.

MSSPs offer flexibility and scalability, helping your business adapt to new opportunities or challenges without the delay and expense of hiring new staff or retraining existing employees. Access to this level of expertise reduces the burden on any internal team members and helps your organisation remain competitive, secure, and compliant​​​​.

Access a broad range of security expertise

2. Refine security and compliance

In-house security teams might lack the resources and expertise to align controls with compliance requirements. MSSPs can offer advanced protection against threats, continuous monitoring, and compliance with industry regulations such as the Australian Government’s Essential Eight cyber security guidelines or the NIST CSF

MSSPs ensure data management practices meet the necessary legal standards. They also keep businesses updated on changes in regulations and best practices, providing guidance on adjusting policies and procedures accordingly.

Maintaining alignment with regulations and frameworks protects the organisation from data breaches and cyber threats. MSSPs protect sensitive data and systems using the latest security technology and practices. They also regularly conduct security audits and vulnerability assessments to address potential weaknesses in the IT infrastructure​​​​.

Refine security and compliance

3. Build a resilient IT infrastructure

MSSPs proactively identify and resolve potential issues before they impact the business. By implementing continuous monitoring, MSSPs can detect irregularities and potential failures early, preventing them from escalating into significant problems. Additionally, MSSPs prepare detailed response procedures for potential cyber-attacks, ensuring businesses can respond quickly and minimise damage​​​​.

Moreover, MSSPs offer a structured and consistent approach to security management. They perform critical maintenance tasks systematically and on schedule to reduce system failures. MSSPs implement preventative measures and develop and test incident response plans. This preparedness enables a business to address and recover from cyber-attacks quickly and maintain a more resilient IT infrastructure.

Build a resilient IT infrastructure

4. Mitigate single-person dependency

MSSPs ensure that no single point of failure exists within the security function. Rather than the knowledge of cyber security sitting with one person, you have an additional team who understands your systems and can step in to address challenges as needed. With an MSSP, you have a whole team at your disposal, reducing the risks associated with single-person dependency. This is crucial for maintaining continuity, especially during unexpected absences or turnover​​​​.

Additionally, MSSPs implement structured processes and documentation, making it easier to manage and transfer knowledge. This systematic approach mitigates the risk of knowledge gaps and ensures seamless operations even if key personnel changes occur. 

Mitigate single-person dependency

5. Stay updated with the latest solutions

Keeping pace with the latest threats and technology can become challenging for small in-house teams. MSSPs stay at the forefront of cyber security trends to offer clients the latest advice and solutions that also make the most business sense. By leveraging the expertise and resources of MSSPs, companies can quickly adopt new cyber security measures and integrate them into existing systems.

Furthermore, MSSPs offer ongoing support and maintenance, ensuring that cyber security controls remain up-to-date with the latest patches and upgrades. This continuous improvement is essential for preventing threats and minimising vulnerabilities. By partnering with an MSSP, businesses benefit from a structured approach to cyber security management that includes regular updates, comprehensive security measures, and strategic guidance on technology adoption.

Stay updated with the latest solutions

Conclusion

Transitioning from in-house cyber security to managed services is a strategic move that offers numerous benefits, including access to expertise, cost efficiency, enhanced security, proactive management and scalability. Partnering with an MSSP means that Australian SMBs can implement modern cyber security controls and position themselves for long-term success.

Why choose recon as your MSSP?

Investing in an in-house cyber security team requires substantial resources. With our managed cyber services, you can access industry-leading expertise and skills to safeguard your business’s digital assets. This approach ensures continuous, effective outcomes at a fraction of the cost of maintaining an in-house team.

Visit our Managed Services page to discover how we can help your organisation.

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