Riding the Storm: MSPs Battling a Tsunami of Cyberattacks

According to a study conducted by Kaseya, 78% of managed service providers (MSPs) identify cybersecurity as their top IT challenge. This figure echoes the constant increase in cyberattacks and highlights the importance for companies to invest in suitable protection solutions.

The Kaseya report

In an exhaustive report of around twenty pages, the researchers compiled and analyzed the responses of 984 participants, mainly from North America, representing 70% of the sample.

This detailed document is freely available, providing a wealth of valuable information for industry professionals. For those who would prefer a straightforward summary without having to register or commit several hours to reading, here is a look at the highlights and key conclusions drawn from this in-depth study.

What exactly is an MSP? An MSP, or managed service provider, is a company that manages other companies' IT services remotely. This can include the management of networks, infrastructure, applications, and security systems. Basically, an MSP takes care of all IT tasks so their clients can focus on their core business.

Evolving IT challenges

While the previous year, 67% of respondents considered cybersecurity a major challenge, this figure increased to 78%.

This trend results not only from increased exposure to information technology risks but also from the growing influence of cybersecurity regulations and standards.

Other IT challenges identified by MSPs include managing the IT infrastructure itself, with all its complexities. This problem is partly aggravated by the lack of qualified personnel to deal with the challenges specific to each company.

Cyberattacks can impact businesses in a variety of ways, from the loss of sensitive or confidential data to reputational damage and the financial costs of responding to the incident. According to a report from the Ponemon Institute, the average cost of a data breach in 2020 was $3.86 million, showing the potentially devastating financial consequences of cyberattacks.

Investment in cybersecurity: a necessity to remain competitive?

According to Kaseya, to effectively prevent and respond to cyberattacks, it would be essential for companies to invest in suitable cybersecurity solutions.

This would involve not only the implementation of technical protection measures, such as the use of antivirus and firewalls, but also the training of staff and the establishment of appropriate procedures. In this context, MSPs would play a key role with “turnkey” services that would allow companies to benefit from optimal protection while focusing on their core business.

Choosing an appropriate MSP would therefore be a strategic decision for companies wishing to ensure the security of their data and their competitiveness in the market.

What other solutions are there?

Perhaps before investing in the solutions proposed above, there are other possibilities? For self-employed people and SMEs, it is vital to find cybersecurity solutions that are both effective and economical. Here are some accessible options:

1. Effective antivirus and anti-malware: Opt for reliable antivirus and anti-malware software, available in free or low-cost versions, offering solid basic protection.
2. Basic firewall: Use an in-OS firewall or basic hardware firewall for an effective initial defense.
3. Staff awareness and training: Inform your employees of good security practices, such as recognizing phishing attempts, to avoid many security breaches.
4. Regular system updates: Keep your operating system and applications up-to-date to protect against known vulnerabilities.
5. Using secure cloud solutions: Cloud storage and application options with built-in security can be cost-effective and secure.
6. Regular backups: Perform regular backups of important data on external media or affordable cloud solutions.
7. Consultation with security experts: Even a quick consultation with a specialist can guide small businesses toward best practices and solutions that fit their budget.

Future challenges of cybersecurity

Cybersecurity challenges include data protection in the cloud and the potential impact of artificial intelligence on the detection and prevention of cyberattacks. Data from Cybersecurity Ventures projects that global costs related to cybercrime will reach $10.5 trillion annually by 2025, highlighting the urgency of an effective response.

Cybersecurity regulations, such as the General Data Protection Regulation (GDPR) in Europe, play a key role. They require organizations to adopt adequate security measures and increase accountability in data processing.

Collaboration between businesses and MSPs would be paramount to ensuring robust digital security in the face of a rapidly evolving industry and growing cyber threats.