5 Ways MSPs Can Optimize Security Spend

Consolidate your tools: Reduce tool sprawl by convergence of single-function technology and consolidation without compromise. Spending on comprehensive IT security solutions can offer greater data protection at a lower cost than legacy systems and applications. If you staff a security operations center (SOC), include automation and machine learning (ML) to minimize alerting and false positives, or use SOC-as-a-Service (SOCaaS) to augment your cybersecurity expertise.

Shift expenses to operating expenses: Organizations can move purchases for new long-term cybersecurity assets like software that are often considered capital expenditures (CAPEX) to ones that are for software-as-a-service (SaaS). SaaS-based purchases such as SOC-as-a-Service are operating expenses (OPEX) incurred to run the business. OPEX purchases are often viewed as more scalable and simpler for internal budget approval.

Minimize the attack surface: Assess whether there are benefits to consolidating your technology solutions and streamlining your vendor bench; minimizing vendors saves time and money. Consider a new sourcing initiative with a vendor that provides a holistic cybersecurity platform with more all-in-one capabilities.

Invest in a well-tuned SIEM solution: A co-managed security information and event management (SIEM) solution catches advanced threats that pose a financial risk to you and your clients, and also identifies suspicious internal behavior that could pinpoint areas for improved processes and productivity.

Augment your internal expertise: Sophisticated adversaries continually morph their techniques to evade detection. It can be challenging, however, to master all aspects of cybersecurity. A lack of 24/7/365 visibility increasingly puts you and your clients at risk. SOCaaS controls costs and resources while simplifying day-to-day management and maximizing cybersecurity coverage.