Businesses must be ever-vigilant in protecting their important data and systems in today’s fast-paced digital landscape. This is where managed security service providers (MSSPs) come into play. Let’s take a look at the modern threat landscape and see why every company must have a managed security provider.

Understanding the Cyber Threat Landscape

Welcome to 2024, where cyber threats evolve faster than your favourite TV show plot twists. If you think your business can fend off these digital demons alone, think again. 

Cyber threats have come a long way from the simple viruses of the past. Today’s threats are more sophisticated, targeting businesses of all sizes. Hackers use advanced techniques to infiltrate networks, steal data, and disrupt operations. Consequently, businesses face various cyber attacks, including phishing, ransomware, malware, and DDoS attacks. Each type poses unique challenges and requires specialised defences. Without specialised knowledge and resources, businesses find it challenging to defend against these threats effectively.

     The 2023-2030 Australian Cyber Security Strategy

A cybersecurity breach can have devastating financial and reputational consequences for a business. The cost of data breaches, loss of customer trust, and potential regulatory fines can be overwhelming. Let’s take, for example, the recent cyberattacks at Optus, Medibank and Latitude Financial, which underscore the need for robust, secure networks. These highly publicised attacks, along with the growing regulatory obligations and cybersecurity skills shortage, highlight the growing need for automated security solutions, as well as the need for businesses to invest in proactive measures to protect their assets and data.

The Australian government has introduced a comprehensive cybersecurity strategy to address rising cyber threats. The 2023–2030 Australian Cyber Security Strategy sets a goal of making Australia the most cyber-secure nation by 2030. The strategy aims to improve collaboration between the private and public sectors and strengthen the overall cyber resilience of the economy. The success of this strategy is critical due to growing public concerns about privacy, data breaches, and cyber security, all of which are directly impacted by the digital connectivity that supports our daily lives.

The cybersecurity plan includes a $385 million investment, targeting ransomware, hacking, and small-to-medium enterprises’ security. Key measures include data roaming for telecommunications and potential bans on ransomware payments. This strategy follows significant cyber incidents affecting major Australian companies and aims to establish a strong and resilient cybersecurity framework.

Traditional IT, MSP & MSSP: What is the difference?

Managed service providers (MSPs) are companies that handle a business’s IT infrastructure and ensure their cybersecurity needs are met. They provide a range of services, including network monitoring and data backup, to ensure the smooth and secure operation of systems.

In contrast to traditional IT support, which usually reacts to problems as they occur, MSPs adopt a proactive approach. They constantly monitor systems and take proactive measures to prevent issues, ensuring optimal performance.

Managed security services (MSS), on the other hand, involve outsourcing cybersecurity roles to a third-party provider, commonly referred to as a managed security service provider. MSS covers a wide range of security functions, such as threat monitoring, incident response, vulnerability management, and compliance support. By leveraging the expertise of MSSPs, businesses can ensure robust protection against cyber threats without the need for in-house resources.

For a deeper dive into managed services and the benefits of using a managed service provider (MSP), these blogs offer valuable insights:

• How MSPs Keep Unplanned Downtime to a Minimum
• Is Managed Services Worth it for small businesses?
• Key Services Provided by MSPs
• Benefits of Using an MSP
• More Managed Services blogs!

Automating Security: How MSSPs Put Your Business on Autopilot

MSSPs leverage advanced tools and processes to automate key security tasks, enhancing efficiency and accuracy. First, they use automated log analysis and threat detection to quickly identify suspicious activities. Second, vulnerability scanning and patching are streamlined, with scans identifying security gaps and automated tools deploying necessary fixes. Thirdly, incident response playbooks automate initial response actions, reducing human error and speeding up threat containment. This comprehensive automation ensures robust and timely protection for businesses. 

Managed security service providers are truly game-changers in the realm of cybersecurity, automating critical security functions to keep your business protected around the clock. Now, here’s how they put your security on autopilot:

    1. Threat Detection and Response

 A key function of MSSPs is to provide threat detection and response (TDLR) services. MSSPs leverage sophisticated Security Information and Event Management (SIEM) systems to enhance cybersecurity through real-time threat detection and response. These SIEM systems continuously monitor, collect and analyse security data from various sources across an organisation’s IT infrastructure, such as network traffic, user activities, and security logs. They aggregate this data, analyse it for anomalies, and generate security alerts.workforce.

     The Automation Process

•  Data Collection: MSSPs utilise SIEM systems to constantly collect data from various security sources within a client’s network, including firewalls, endpoint security tools, and intrusion detection systems.
• Threat Detection: The SIEM utilises pre-defined rules and analytics to analyse the gathered data. These rules are derived from recognised threat indicators such as malicious IP addresses and suspicious file types. When the SIEM detects a possible threat, it immediately triggers an alert.
• Automated Response: This is where automation truly excels. An MSSP has the ability to configure the SIEM to automatically take predefined actions when certain types of alerts are detected. For example:

• 1. Isolating an infected device to prevent it from spreading malware laterally within the network.
  2. Blocking a malicious IP address to stop further attempts to access the system.
  3. Quarantining a suspicious file for further analysis.

• Automated Response: In certain situations, the SIEM can be set up to automatically take action when specific threats arise. This could include tasks such as isolating infected devices, blocking malicious traffic, or patching vulnerabilities.

    2. Vulnerability Management

With employees working from various locations and devices, the traditional network perimeter security approach becomes less effective. This creates a wider attack surface for vulnerabilities to be exploited. For example, personal devices used for work may not have the same level of security as laptops provided by the company. This can introduce vulnerabilities if not properly managed. In addition, numerous organisations, particularly smaller ones, may lack the necessary resources to efficiently handle endpoint security for a geographically scattered workforce.

     The Automation Process

• Automated Deployment: MSSPs can remotely deploy endpoint security solutions on all devices authorised to access the network by utilising automation tools. This guarantees consistent security, irrespective of the type of device or the location.
• Vulnerability Scanning & Patching: Vulnerability scanners can be deployed automatically to detect security vulnerabilities on endpoints. These scanners can be configured to prioritise critical vulnerabilities and schedule automated patching to resolve them.
• Configuration Management: MSSPs may implement automation to enforce security policies and configurations on endpoints. By ensuring that security settings are consistent across all devices, the risk of misconfigurations that could lead to vulnerabilities is minimised.
• Endpoint Detection and Response (EDR): MSSPs have the option to implement EDR solutions that continuously monitor endpoint activity for indicators of suspicious behavior. These solutions can be configured to automatically isolate infected devices or take other actions to contain threats.

    3. Endpoint Protection

With the proliferation of remote work, endpoint protection is crucial. MSSPs deploy and manage endpoint security solutions, ensuring all devices connected to your network are safeguarded. Endpoint security solutions like antivirus, anti-malware, and endpoint detection and response (EDR) safeguard individual devices from various threats like malware, phishing attempts, and unauthorized access.

     The Automation Process

• Remote Deployment: Automation tools can be used to conveniently install endpoint security software on authorised devices. This ensures consistent security across all devices, regardless of location or type.
• Automatic Updates: Endpoint security software needs regular updates to stay effective against evolving threats. Automation guarantees that updates are downloaded and installed automatically on all endpoints, eliminating the risk of human error or delays.
• Real-time Monitoring & Threat Detection: Automated monitoring tools continuously track endpoint activity for suspicious behavior. These tools can identify and isolate infected devices or trigger automated incident response protocols.
• Policy Enforcement: Automation can be used to enforce security policies, such as application whitelisting or restricting access to specific websites. This helps prevent employees from unknowingly introducing vulnerabilities through their actions.

    4. Data Backup and Recovery

Businesses rely on critical data for daily operations and decision-making. Losing access to this data due to cyberattacks, hardware failures, or accidental deletion can be devastating. However, performing data backups manually is time-consuming and prone to human error. Mistakes in scheduling, configuration, or execution can leave critical data unprotected. Having a robust backup and recovery plan is crucial for minimising downtime and data loss. 

     The Automation Process

• Automated Scheduling: MSSPs can configure automated backup schedules for your critical data. This ensures backups are performed regularly, without relying on manual intervention. The frequency of backups can be determined based on data criticality, with more frequent backups for frequently changing information.
• Automated Data Selection & Replication: Automation tools can identify and select the most critical data for backup based on pre-defined criteria. This ensures the most essential information is backed up first, minimising potential downtime in the event of a recovery scenario.
• Automated Testing & Verification: Automation can be used to schedule regular tests to verify the integrity and recoverability of backups. This ensures that your backups are usable in the event of a disaster.
• Continuous Data Protection (CDP): Some MSSPs offer CDP solutions that continuously capture data changes. This allows for near-instantaneous recovery to a specific point in time, minimising data loss.
• Automated Disaster Recovery (DR): In the event of a major disruption, automated DR plans can be implemented to restore critical systems and data quickly. This minimises business downtime and ensures a faster return to normal operations.

MSSPs function as an extension of your security team, providing a Security Operations Centre (SOC) equipped with advanced security tools and automation. These tools continuously monitor your network, analyse logs for suspicious activity, and even take pre-defined actions (like isolating infected devices) to contain threats. Automation empowers MSSPs to handle the heavy lifting—analysing vast amounts of data, filtering out false positives, and initiating pre-defined responses to contain threats. This allows analysts to dedicate their attention to resolving intricate incidents.

Is Your Business Prepared? Why MSSPs are Crucial for Mitigating Cybersecurity Risks

In today’s threat landscape, the question is not whether your business will experience a cyberattack, but when. Here’s why Hexicor Managed Security Services are crucial for mitigating these risks:

     ✅ Scalability: As your business grows, so do your security needs. We provide flexible solutions that can easily adapt to the needs of your business, guaranteeing uninterrupted security.

     ✅ Regulatory Compliance: Dealing with the intricate network of regulations and industry standards can be quite overwhelming. Managed security service providers like Hexicor play a crucial role in ensuring your business stays compliant, preventing the risk of facing significant fines and damage to your reputation.

     ✅ Resource Allocation: Building and maintaining an in-house security team is resource-intensive. We offer the advantage of accessing highly skilled cybersecurity specialists without the burden of additional expenses.

     ✅ Business Continuity: Cybersecurity incidents have the potential to cause major disruptions to business operations, resulting in substantial financial losses. We will assist you in implementing robust disaster recovery and business continuity plans to ensure your business can quickly recover from any incident.

In today’s ever-evolving cyber threat landscape, relying on outdated security measures is akin to fighting a dragon with a toothpick. Cybersecurity on Autopilot: Why Every Business Needs an MSP in Today’s Threat Landscape has hopefully made it clear that a managed security services provider is not just a luxury but a necessity. With their expertise, advanced tools, and round-the-clock vigilance, MSSPs can keep your business safe while you focus on what you do best. So, why wait? Get an MSSP on board and put your cybersecurity on autopilot. Because in this digital age, it’s not just about surviving; it’s about thriving.

Why Choose Hexicor Manages Services? By partnering with Hexicor, you can ensure your business is well-prepared to handle any cybersecurity challenges that come your way. Ensure your business is protected with expert managed IT services. Contact us today to learn more about how managed security services can safeguard your business and give you peace of mind.

Frequently Asked Questions (FAQs) about Managed Security Services (MSSP)