Market shifts are unavoidable. Recent years have seen a rise in the need for and spending on IT and cybersecurity due to the quick adoption of remote work, cloud computing, and digitalization. Inflation, increased labor prices (assuming you can even find talent to recruit), and supply chain issues are all economic challenges that businesses and service providers must contend with. Attacks with financial motivation are likely to pick up speed during uncertain times. Smart channel leaders should take the initiative and advise customers to prioritize cybersecurity investment as a factor in company expansion.

  1. Increase operational agility: While switching from products to SaaS (Software-as-a-Service) can simplify operations, it can also pose risks and obstacles. Maintain a laser-like focus on your preferred clientele to boost profits, stand out for value, and foster a culture of patronage. To guarantee continuing alignment with the market and shifting client expectations over time, keep in mind to frequently re-evaluate any packaging and pricing decisions. Select a managed cybersecurity partner with a wide range of capabilities, including 24/7 specialists and advanced threat prevention, to reduce startup risk and investment.
  2. Strike a balance between cyber risk and company growth. Managed Service Providers (MSPs) want to be able to customize their solution portfolio to specific customer needs that change over time. Your cybersecurity portfolio should similarly adapt and change with the market. As your clientele grows or your account penetration increases, scale your cybersecurity portfolio to increase your flexibility and agility.
  3. Expand your IT team: Finding qualified IT and cybersecurity specialists in today’s labor market are at best tricky, and keeping them on board is even harder. Analyze the areas in which you can strengthen your team by collaborating with external specialists, freeing up your staff to work on other strategic initiatives. Consider SOC-as-a-Service as an alternative to setting up and staffing your own DIY Security Operations Center (SOC), for example, so that you may provide 24/7 monitoring without having to engage difficult-to-retain professionals. You can be as hands-on and involved in the management of a co-managed cybersecurity solution as you choose. A managed service makes it easier to keep your current workers since they know that more experienced aid is accessible, especially to support smaller IT teams.
  4. Look into measures to streamline or consolidate: Too many cybersecurity providers and solutions are probably present in most businesses for efficient management. This is partly due to the fact that new security measures are frequently introduced one at a time. The end effect is a technology sprawl that can lead to cybersecurity weaknesses and siloes. Partners and their clients want to move quickly and learn, but the expense and complexity are increased by having too many tools and not enough help. In order to streamline suppliers and procedures, look for tool and solution overlaps and redundancies. Due to these difficulties, businesses are turning to MSSPs for managed services to streamline cybersecurity operations.
  5. Automate and coordinate where you can: Cybersecurity increasingly frequently uses automation, machine learning (ML), and artificial intelligence (AI). These sophisticated tools and technology shorten the time it takes to correlate threats and respond to them. Automation and orchestration can be sparked by staff shortages and growing labor expenses, but they can also help identify stealthy threats that avoid detection and improve time-to-respond (TTR). To balance human and artificial intelligence, automation and technology must be used in conjunction with cybersecurity experts.
  6. Give cost control a priority since, in hard times, money is king. It’s essential to make investments in a business expansion that will be profitable and maintain prudent expenditure. By evaluating a managed cybersecurity solution rather than DIY hardware purchases or pricey IT hires, you can save money.

Your current security investments and technology stack are integrated into our adaptive security solution, CYB3R-X Managed Threat Protection, which scales swiftly to changing company needs.