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Managed security service providers (MSSPs) have an opportunity to target businesses as nearly half plan to outsource their security, according to research from service management software provider SolarWinds MSP.
The managed service provider (MSP) arm of SolarWinds has released results from a survey with 401 UK and US enterprises in a report called ‘The Path to MSSP’. From the findings, 60% of respondents are currently managing all or part of their security internally but of those, 82% are likely to outsource in the next 12 months.
Out of those likely to outsource, 42% cited cost and 40% performance as the main drivers for this decision. Those who are likely to outsource also make up almost half (49%) of all the respondents and the report highlights how MSSPs can take advantage of this opportunity.
The difference between MSSPs and managed service providers (MSPs) is that the former meet various criteria in four categories: infrastructure, risk and vulnerability management, data security and identity and access management. The majority of businesses in the report preferred a security specialist to an MSP, with 70% agreeing that it would give them ‘more trust in their security capabilities’.
“This creates nervousness amongst enterprises and SMEs and greater scrutiny of the IT security measures in place. Where there is market turbulence, there is also opportunity, and the good news for IT service providers is that this has resulted in almost half of all businesses planning to outsource their security needs to specialists,” he said.
“However, IT service providers need to remember that more opportunity inherently means more competition. Providers need to be able to prove their knowledge, capabilities, and available resources to take full advantage.”
The report also found that 63% of businesses are now wholly or partially outsourcing but from that, 51% plan to change to in-house. The majority (51%) of those who are switching felt that their in-house team could do better than their service provider.