Big or small, all MSPs need to ensure their own cybersecurity standards are in order before offering cybersecurity services and solutions to their clients. Over the last several years, MSPs have become a high-value target for threat actors. While there is currently big news in the industry surrounding a vulnerability exploit and supply chain attack on Kaseya, let’s not forget that MSPs have been on the radar of threat actors for years.
It’s safe to say that cybercriminals are playing the long game, and circling back to the MSP community when they feel there is a lull in vigilance. MSPs are targeted because they serve as a distribution point—a cyberattack on one MSP could result in dozens of SMBs being exploited.
In today’s world, there’s never been a greater sense of urgency around the need to implement effective cybersecurity solutions that not only protect your clients, but your own company as well. In this blog, we’ll cover the main reasons your business should take your internal cybersecurity measures seriously, the fallouts of failing to do so, and the ways in which you can start to turn ideas into action. Let’s jump in.
When you take the time to analyze the gaps in your internal cybersecurity processes, you’ll learn what to look for in your clients’ cybersecurity systems and more importantly, how to address their issues. Examining your own cybersecurity standards helps you better analyze your end-client environments.
You’ll also learn to ask more poignant questions when reviewing cybersecurity solutions for implementation. How can we better secure our clients’ systems? Do the solutions fit into our security processes today? How can we leverage our own cybersecurity processes and utilize them to assist our clients?
As MSPs go through this process, they’ll start to realize how these questions, and cybersecurity in general, will bubble up towards the top of their internal and external priorities.
Perhaps a less apparent benefit of prioritizing internal cybersecurity processes, but an important one nonetheless, is business continuity from a security and viability perspective. When you take the time that is needed to secure your own house, you’re less apt to incur an attack.
Establishing your security measures and demonstrating to threat actors that you’ve built up an attack-proof system will ensure your business is able to operate smoothly without the potential threat of a cyberattack weighing you down. Taking the time to home in on your own cybersecurity processes will inevitably save you valuable time and money in the long run.
Besides the tangible benefits of prioritizing internal cybersecurity standards, such as increased revenue and time savings, there’s also the indirect benefit of building trust and credibility with your end clients. When you’re able to prove your cybersecurity expertise to end clients, you demonstrate your ability to act as a trusted and credible partner. Your end clients may go on to share their positive experience with other businesses looking for an alternate service provider, which could lead to more business coming through your door.
When an end client sees that they’re benefitting from the same cybersecurity solutions that your business is utilizing, they can rest easy knowing that you practice what you preach. Establishing transparent relationships with your end clients can do a lot to build up your brand image and make you a sought-after MSP for prospective clients.
The most obvious problem of not securing your own business is opening the door for a cyberattack. If your business gets ransomed, there’s going to be a significant level of business interruption in the form of downtime. While there are BDR restoration capabilities that can restore your critical systems, bringing them back online instantaneously isn’t always possible.
Since you don’t know when or how a ransomware attack occurs, your business will have to threat hunt and remediate your systems first before restoration can take place. A ransomware attack could also require you to pay out-of-pocket for restoring business operations.
The worst thing you can do for you and your clients is fail to secure your own house before working to secure your end clients, which makes prioritizing your own cybersecurity measures a top priority.
Not only can a ransomware attack cause significant issues for your business, but it can also set off a supply chain attack that wreaks a lot more havoc. If your business is used to ransom end clients through the tools used for remote monitoring and remediation, you could be responsible for remedying the financial fallouts that your end clients experience.
When your business is used as a distribution point, the number of SMBs that could be impacted can be significant. If the consequences your internal team will face as a result of a ransomware attack aren’t enough to push you to take action, the threat of a possible supply chain attack should further stress the importance of securing your own house first and foremost.
As previously mentioned, clients view their MSPs as trusted advisors. When end clients are ransomed because the MSP was used as a distribution point, the image of being a trusted advisor is going to be hard to maintain. Even if the ransomware attack was no fault of your own, your end clients will hold you accountable for the damage done.
After being the victim of a ransomware attack, your clients won’t hesitate to look for an alternative service provider. They may even leave negative reviews of your business online, which can further steer prospective clients away from partnering with you. It can take years to build back up your reputation and trust with end clients after a ransomware attack occurs, so being proactive when it comes to internal cybersecurity measures is the best course of action.
The bottom line? Providing the best cybersecurity solutions possible starts with implementing effective security measures within your own organization. MSPs choose Vade to protect their users and their businesses from advanced cybersecurity threats, including phishing, spear phishing, and malware. Our AI-based security technologies are designed to detect the undetectable, and ensure that your MSP is able to operate with peace of mind knowing their infrastructure is in good hands.
If you have questions about our cybersecurity capabilities or would like to request a demo to see Vade in action, please reach out to us today!