Why an SMB must capitalize on MSP Knowledge and Technology Advancements

Posted by Trevagh Stankard on Tue, May 24th, 2022

The modern SMB uses technology to innovate and communicate. But technology is costly, changing rapidly, making it even more expensive to keep up to date. New technology also opens new cybersecurity threats that are no longer fixable using an antivirus application; cybercriminals use every trick to deliver ransomware, steal data, install malware on networks and devices, commit fraud, and so on. Smaller companies are an attractive target for cybercriminals because they lack the resources to secure all the possible attack points. Still, the SMB must also continue to work with advanced technologies to remain competitive. So how does the modern SMB get access to advanced technologies but stay secure when using them?

An SMB can turn this situation around by using the skills and expertise of a managed service provider (MSP).

The MSP and the SMB are a match made in Technology Heaven

An MSP offers an SMB some attractive options to secure a smaller organization and make it resilient to cyber-attacks while ensuring they have access to advanced technologies. Here are some of the main reasons for an SMB to choose to work with an MSP:

Access to Enterprise-grade Security Solutions

According to the 2021 Verizon Data breach Investigations Report, 43% of data breaches involve small and medium-sized businesses. But, a 2020 study found that one in three SMBs use free cybersecurity products meant for consumers. Worse still, one in five have no endpoint security in place. The survey also found that less than 10% of SMBs have a dedicated person looking after security in the company. With the levels of attacks against small organizations, this lack of attention to security puts an SMB at a severe level of risk. According to an IBM study, the cost of a data breach to an SMB is estimated to be:

• $2.98 million (with under 500 employees)
• $2.68 million (with between 500-1000 employees)

Of course, security matters even in a smaller company, but how does an SMB get the best security at the right price?

An MSP can deliver some of the world’s best security solutions. In addition, MSPs can offer their clients highly effective, new-era security solutions. These will prevent modern-day threats such as ransomware: an essential aspect of securing an SMB. A recent report from Cyberedge Group found that in 2021, 71% of companies were victims of ransomware.

Cybersecurity measures don’t come cheap; therefore, many SMBs have turned to free consumer products. But these products leave an SMB with a false sense of security as they are not designed for corporate use. An MSP works to deliver robust cloud security and secure endpoint devices. Enterprise-grade cybersecurity products are available from an MSP who will develop the best-fit security architecture for an SMB’s environment and apply advanced security solutions to protect SMB resources and data.

MSPs have access to email and DNS filtering solutions that help prevent ransomware infections by stopping employees from receiving phishing emails or navigating to malicious websites. These solutions are vital in preventing ransomware infections that depend on phishing to steal login credentials and install malware. 

Keeping up with New Technologies

It is part of an MSPs job to keep up to date with new advances in technology. By offering clients the best available technology in the marketplace, the MSP keeps its competitive edge. MSPs build relationships with world-class software and hardware vendors to bring these technologies to all their small and large clients. By using the services of an MSP, you get access to these new technologies and skilled personnel who can correctly set them up and train your staff in the use of the systems and apps.

Cost-effective Options

An SMB is in a difficult position: they need to stay competitive in their core business area by focusing money and staff resources on building their business. However, cyber-attacks are a distraction of funds away from the SMB’s ability to innovate and deliver competitive products and services. Therefore, an SMB must find a cost-effective way to mitigate the impact of a cyber-attack.

An MSP has pricing structures designed to appeal to an SMB. Monthly payment options allow an SMB to budget ahead and know what they will be paying monthly. An MSP will also take the overhead out of always-on server energy bills, as your organization will migrate to the MSP’s servers and data centers. An MSP will deliver security and other technology solutions, as-a-Service. This delivery method allows for cost-effective deployment and maintenance and makes upgrading and security patching more manageable.

The service offered by an MSP will typically include maintenance and management of any software and hardware delivered to your contact; this means hidden or sudden costs won’t hit you.

Skilled Staff

An MSP will work alongside an SMB to bolster its internal support team. Technical staff, especially people who have experience with emerging technologies and cybersecurity solutions, are hard to find. The current global skills gap in cybersecurity, for example, is around 2.7 million people. An MSP’s core business is to employ skilled technical staff. These staff then become an extension of your organization, working to augment and deliver your IT hardware, software, and security infrastructure.

An MSP will usually provide ongoing technical support for your staff, usually on a 24/7/365 basis. An MSP can also help ease the management of technology and train staff to use applications and other technologies.

When choosing an MSP, make sure that they have experience working with an SMB. The right MSP can plug any gaps that a smaller organization has in skilled IT and security staff. The right MSP will also give an SMB access to enterprise-grade technologies that would otherwise be outside the reach of most smaller organizations.