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Businesses want to consolidate their security tools

Security and regulatory compliance tools are merging, service providers are noticing (photo: CC0 Public Domain; this image is generated by AI)

More and more businesses are facing resource and cost constraints, resulting in the majority (86%) of MSP and MSSP customers outsourcing their security concerns. With that, users actually want to consolidate their security tools, according to the OpenText Cybersecurity 2023 Global Managed Security Survey.

“Staffing issues that have plagued the IT security industry for years are exacerbated by today’s challenging economic environment. As a result, understaffed teams must find creative ways to accomplish more with less,” said Jeff Beebe, senior vice president of marketing and strategy at OpenText.

“With limited time and resources, enterprises understand that simple and effective security must be their priority. MSPs equipped with a comprehensive portfolio of cloud-based security and data management solutions, with the ultimate in cyber resilience, have the unique advantage of being able to help their customers achieve efficiency without compromising security.”

Key findings from the study include:

  • Most (86%) MSP and MSSP customers are looking for ways to consolidate their security tools;
  • The overwhelming majority (88%) of respondents believe that security and regulatory compliance tools are converging;
  • Small and medium-sized businesses (SMBs) are most interested in outsourcing data security, infrastructure monitoring and risk mitigation;
  • 82% of MSPs and MSSPs cite the need for comprehensive security “on demand” as the main reason their customers use their services;
  • MSPs and MSSPs say the biggest challenges facing their customers are cost savings (28%) and the need to simplify security programs (26%);
  • Staff shortages or layoffs and a lack of security expertise for a deficit that is proving to be a key challenge for customers.

When partnering with vendors, MSPs and MSSPs see integration of technology solutions as the biggest challenge.

In 2022, MSPs and MSSPs saw the fastest customer growth in the technology and IT services sector (82%), followed by financial services (36%) and healthcare (24%). The respondents see a similar growth in 2023 as well.

Technology and IT services, financial services and healthcare are again the sectors most in need of outsourced cybersecurity services due to lack of resources or education. This is perhaps not surprising, considering that the IT services sector most closely follows modern technological trends, the financial sector has always been subject to the most and most aggressive attacks, and healthcare is the new “gold mine” for cybercriminals : 78% of healthcare providers have experienced a data breach since 2021.

At the same time, vendor partner programs are becoming increasingly customized (54%) to secure new and retain existing MSPs and MSSPs. The majority (70%) of respondents still see value in vendor tier programs that support setting specific goals and achieving business results through the definition of partner tiers.

Co-marketing is the biggest partner benefit that channel-focused companies can offer, the study also found. The next biggest benefits are referral and referral programs, co-selling incentives, and market development funds (MDF). Providing event support is the least important form of support.

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