Choosing a managed security services provider (MSSP): everything you need to know

October 5, 2023

A managed security services provider (MSSP) offers organizations access to a team of highly qualified Cyber Security experts without the need to invest in technology, training, and bringing in an internal team.

These services have so far been contracted primarily by large enterprises, and increasingly also by small and medium-sized enterprises (SMEs) due to the growing need to protect their operations and business continuity.

In order to help companies in their process of selecting a managed security services provider, we have compiled 5 keys for contracting an MSSP and getting it right:

1. Position in industry recognized MSSP rankings

It is essential when choosing an MSSP to evaluate its position in specialized rankings. Since MSSP providers can offer a variety of managed services and security approaches, it is imperative to know their strengths and weaknesses. One way to do this is to consult recognized industry rankings.

One example is the Top 250 Global MSSP benchmark ranking produced annually by MSSP Alert. It ranks the top 250 managed security service providers based on various criteria, such as the number and certifications of their professionals, the services offered and recognition from industry analysts such as Gartner, Forrester or IDC, among others.

✔️ Telefónica Tech ranks 2nd on MSSP Alert's Top 250 Global MSSP list in 2023. This position recognizes our operational excellence in key aspects of the cyber security managed services offering. Using these rankings as a benchmark helps in selecting a high-level security outsourcing partner.

2. An MSSP to simplify the Cyber Security ecosystem

In a world with a growing number of cyber security players, simplification is essential. Companies are looking to reduce the time and resources required to integrate technologies, select vendors, and qualify services. Therefore, it is essential that the chosen MSSP simplifies this complex ecosystem.

Accessing the best technologies and partners through an MSSP will enable enterprises to delegate critical tasks such as upgrades, patches, and bug fixes. This, in turn, streamlines decision making and allows companies to focus on their core operations, rather than dealing with cyber security management.

✔️ Our complete commercial portfolio is backed by the market's leading technology partners. This allows us to remain at the forefront of innovation, and to offer today the solutions for tomorrow's challenges.

Adaptability is another aspect to consider when choosing an MSSP, besides simplification. In a context where threats and challenges can change rapidly, it is essential that the MSSP can nimbly adapt to new circumstances. This implies the ability to implement new security solutions and strategies as they are updated and become available, to address emerging threats.

3. Experienced in managed security services

Selecting an MSSP with proven and tested experience in managed security services and a strong track record in protecting your customers is essential to quickly identify and mitigate vulnerabilities.

Beyond technical capability, experience provides the advantage of having faced a wide range of situations and threats over time. This means that the MSSP not only understands current threats but is also prepared to anticipate future threats.

In addition, experience allows you to fine-tune your security processes and strategies for an efficient and effective incident response, so by choosing an MSSP with a strong track record in managed security services, you are investing in experience in protecting against cyber threats.

✔️ Our extensive experience ranges from advisory services to managed security engineering and operations, ensuring a comprehensive understanding of threats and the ability to effectively address them.

4. Comprehensive cyber intelligence service and MSSP solutions

One of the distinguishing characteristics of a senior MSSP is their ability to provide cyber threat intelligence, advanced technology, and rigorous procedures. MSSPs monitor and manage security devices and systems, including services such as firewalls, intrusion detection and vulnerability scanning.

However, it is important to note that not all MSSPs offer complete solutions, so it is necessary to avoid vendors that may leave gaps in your security. These gaps can arise when an MSSP does not offer specific services or does not adequately address certain aspects of an organization's cyber security.

Some MSSPs may focus on threat detection, for instance, but may not provide robust vulnerability management or efficient incident response. This will leave companies with significant weaknesses in their security strategy.

✔️ Telefónica Tech's NextDefense integrates Managed Detection and Response (MDR), Vulnerability Risk Management (VRM), Cyber Threat Intelligence (CTI) and Digital Risk Protection (DRP) into a single solution. This provides our customers with comprehensive protection which covers everything from cloud platforms to remote employees, digital assets, and brand reputation.

5. MSSP cost control and security technologies

When it comes to controlling costs in cyber security management, it is important to note that a customized approach is key. Not all companies have the same needs and resources.

Therefore, a quality MSSP must be able to tailor its solutions and pricing to the specific characteristics and needs of each customer. This means not only offering competitive prices, but also providing flexible options that allow companies to scale their security services according to their growth and potential risks.

Companies maintain full control over their cyber security costs, without sacrificing quality or effectiveness of protection, by choosing an MSSP that offers this flexibility. In other words, without jeopardizing the continuity of their operations and business.

✔️ Telefónica Tech provides technology, experts and processes at a fixed and predictable investment cost and service level agreements (SLAs). This eliminates the need for capital expenditures (Capex) and provides a global and transparent view of cyber security costs.

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