For years, IT firms have been hamstrung by a global shortage of security skills. Many faced difficulties in attracting and retaining cybersecurity talent. Organizations are looking externally to meet their security demands as a result of the skills gap, with many turning to Managed Service Providers (MSPs).
According to Enterprise Strategy Group report “The Life and Times of Cybersecurity Professionals 2021,” 95 percent of cybersecurity employees surveyed believe the skills crisis is still there, exacerbated by heavy workloads and the overall labour deficit. As a result of this environment, more businesses will turn to MSPs for cybersecurity and other services.
Accomplish More with Less
There is no such thing as an infinite IT budget in business. There are only so many people, procedures, and technology solutions they can deploy. Organizations must ensure that all of these components can keep up with their operations. They might lose money if they don’t. For instance, their technology isn’t meeting their IT requirements. This scenario could slow down business operations and cause employees to spend more and more time fixing problems, leaving them with less opportunity to work on initiatives that advance the goals of the organization.
To address these issues, many businesses turn to Managed Service Providers (MSPs). This relieves them of the need to purchase new software or hardware all at once. Instead, they can pay a monthly fee for a technology service. They can thus budget for this operational expenditure on a continuous basis without having to devote too many resources to their tech projects at once.
Unburden the Employees
A limited IT budget can make it difficult for companies to react to changing business needs. They may not be able to respond quickly enough to shifting business conditions, as witnesses in 2020. Even those with those capabilities may not be able to make the necessary modifications without interrupting their current operations.
Also Read: Three Cybersecurity Skills to Ace In 2022
The same cannot be said for businesses who deal with a Managed Service Provider. Organizations can scale their required services to adapt and evolve their existing services as their business requirements change. They can also introduce new processes and tools while maintaining the flow of their business.
The Way Forward
MSPs have a promising future in terms of addressing the IT skills shortage. Those who have invested in packaged layered security bundles will have the best chance of gaining security customers. According to Herjavec Group’s “Managed Security Services Trends 2020” report, 42 percent of companies plan to boost their IT security budgets. This allows MSPs to work with businesses to help them improve their overall security, particularly if the business does not have, or cannot afford, its own professional security staff. As a result, co-managed IT service offerings could be a greenfield for MSPs.
Although cybersecurity will remain a top priority, some businesses may cut back on spending due to uncertainties. The scrutiny is intensifying. MSPs and their technology partners will have to adopt new practises, such as standardized solutions and services, to demonstrate value and decrease risk in order to stay competitive.
Deeper intelligence when it comes to the hybrid environment, as well as the endless variations of hybrid infrastructure, will remain critical to success in 2022 and beyond.
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