How MSPs Can Reduce Cybersecurity Costs While Improving Protection

Posted by CyVent on Jan 30, 2025

The global managed services market is set to grow from $302.11 billion in 2024 to $611.17 billion by 2034, nearly doubling in size within a decade. For MSPs, this surge presents both opportunities and challenges. As businesses increasingly seek managed services for cybersecurity, cloud infrastructure, and compliance, MSPs must evolve beyond traditional IT support to stay competitive. By 2024, managed services were expected to account for 44% of MSP revenue, up from 34% in 2023 - signaling a need for strategic adaptation to capture this growing demand.

However, with growth comes rising expectations. Clients demand seamless, cutting-edge solutions to address threats like ransomware and data theft while keeping costs under control. This creates a dual challenge for MSPs: how to expand their offerings and meet client needs without overwhelming budgets or resources.

In this article, we’ll explore actionable strategies MSPs can implement to achieve that balance - by adding an ‘S’ to their acronym and and being able to present themselves as MSSPs (managed security services providers) while reducing cybersecurity costs for themselves and their clients.

Understanding Cybersecurity Costs

Understanding Cybersecurity Costs

Cybersecurity costs can be a significant burden for businesses, especially small and medium-sized enterprises (SMEs). The cost of cybersecurity can vary widely depending on the type of security measures implemented, the size of the organization, and the level of protection required. Managed service providers (MSPs) can help businesses improve their cybersecurity maturity and manage their cybersecurity costs by providing a range of security services, including threat prevention, detection, incident response, and security monitoring.

According to Fortune Business Insights, ​​the global cybersecurity market is projected to grow from USD 193.73 billion in 2024 to USD 562.72 billion by 2032. This growth is driven by the increasing number of cyber threats and the need for businesses to protect their company data and intellectual assets.

MSPs can help businesses reduce their cybersecurity costs by providing a range of services, including:

  • Threat detection and response
  • Security monitoring and incident response
  • Vulnerability management and patching
  • Security awareness training
  • Compliance and risk management  

By outsourcing their cybersecurity needs to an MSP that provides these services, businesses can benefit from the expertise and resources of a dedicated security team without the high costs of hiring and training in-house staff.

The Challenges Facing Managed Service Providers in Cybersecurity

Challenges Facing Managed Service Providers

MSPs face a tough and challenging environment:

  • Sophisticated Threats: Cybercriminals continue to innovate, deploying advanced attacks such as ransomware-as-a-service and zero-day exploits.
  • Tool Sprawl: Managing disparate tools across multiple clients leads to inefficiencies, higher costs, and security gaps.
  • Resource Constraints: Many MSPs lack the budgets or in-house talent to build and maintain comprehensive cybersecurity solutions.
  • Client Expectations: SMBs and enterprises alike expect seamless, end-to-end protection, leaving little room for error.
  • Infrastructure Management: Overseeing a customer's IT infrastructure and end-user systems adds complexity. Daily management services across various components such as network and infrastructure management are essential, allowing client organizations to focus on enhancing their services without interruptions caused by system downtimes.

These challenges require a smarter approach to cybersecurity - one that maximizes impact without overwhelming budgets or resources.

Strategies for Cost-Effective Cybersecurity Services

 

Optimizing Cybersecurity Services with Cost-Effective Strategies and Innovations

1. Leverage Curated Solutions

MSPs don’t need to navigate the cybersecurity landscape alone. Partnering with experts who curate and vet tools at scale can save time, reduce costs, and improve outcomes. For example, CyVent specializes in identifying high-impact technologies that address the most pressing security challenges while ensuring seamless integration into existing systems. By focusing on curated solutions, MSPs can:

  • Avoid overpaying for unnecessary features.
  • Deploy tools that deliver measurable ROI.
  • Simplify their operations by using pre-vetted, reliable, compatible technologies.

2. Adopt AI-Powered Security Tools with Remote Monitoring

Artificial intelligence (AI) is revolutionizing cybersecurity by automating complex tasks and delivering real-time insights. MSPs can leverage AI-driven tools to:

  • Detect and respond to threats faster than human teams can.
  • Automate routine processes like vulnerability scanning and incident response.
  • Reduce labor costs while maintaining a high standard of security.
  • Enhance remote monitoring capabilities, allowing MSPs to effectively manage and support IT infrastructure.

AI technologies not only enhance efficiency but also position MSPs as forward-thinking providers capable of handling even the most advanced threats.

3. Streamline Tool Integration

Tool sprawl is one of the biggest cost drivers for MSPs. Managing multiple, disconnected systems not only consumes resources but also creates opportunities for vulnerabilities. Streamlining operations through integrated platforms can:

  • Centralize monitoring and response capabilities.
  • Reduce redundant processes and licensing costs.
  • Improve operational efficiency across client environments.

Integrated platforms can also include cloud solutions to optimize business processes.

CyVent offers integrated solutions like Haven to deliver seamless, bundled security suites that simplify management and improve protection for MSPs.

4. Conduct Regular Risk Assessments

A targeted approach to cybersecurity begins with understanding your vulnerabilities. Risk assessments help MSPs prioritize high-impact areas, ensuring resources are allocated effectively. Benefits include:

  • Identifying critical assets that require the most protection.
  • Avoiding unnecessary investments in low-risk areas.
  • Building trust with clients by proactively addressing their concerns.
  • Protecting company data by ensuring a strong security framework during risk assessments.

5. Partner for Scalability

Building a robust in-house cybersecurity capability can be prohibitively expensive. Instead, MSPs can partner with cybersecurity resellers or Managed Security Service Providers (MSSPs) to access:

  • Comprehensive, military-grade tools without significant upfront costs.
  • Expert support for ongoing threat management, maintenance and upgrades.
  • Scalable solutions that grow alongside client needs.

Even government agencies hire MSPs to manage their IT infrastructure and end-user systems, allowing them to focus on their core functions while ensuring essential IT services are effectively handled by external experts.

By working with a trusted advisor like CyVent, MSPs can focus on delivering exceptional service without overburdening their teams or budgets.

Why Cost-Effective Cybersecurity Matters

Why CyVent Cost-Effective Cybersecurity Matters

Investing in smart, scalable cybersecurity solutions doesn’t just reduce costs - it drives business growth. Here’s how:

The historical significance of application service providers (ASPs) in the evolution of managed service providers (MSPs) is notable, as ASPs facilitated remote application hosting and laid the groundwork for modern cloud computing.

1. Enhanced Client Trust

MSPs that offer reliable, cutting-edge protection build stronger relationships with their clients. This trust translates to improved retention and referrals, both of which are critical for long-term success.

2. Revenue Growth Opportunities

Bundled cybersecurity services, such as endpoint protection and email security, allow MSPs to upsell existing clients and attract new ones. By offering tailored packages, MSPs can differentiate themselves in a competitive market.

3. Operational Efficiency

Streamlined tools and processes reduce the time and effort required for cybersecurity management. This efficiency frees up resources for other priorities, such as client acquisition and strategic growth.

4. A Competitive Edge

As cybersecurity threats continue to evolve, MSPs that demonstrate leadership and innovation in their solutions stand out. This positioning helps attract high-value clients and establishes the MSP as a trusted industry leader.

How CyVent Can Help

SentinelOne + Haven_ The Perfect Pairing for SMBs and Cloud Workloads

At CyVent, we understand the complexities of modern cybersecurity and the unique challenges MSPs face. That’s why we provide tailored consulting services and access to curated solutions that:

  • Address critical threats like ransomware and malware.
  • Simplify operations through seamless integration and centralized management.
  • Deliver measurable ROI by focusing on high-impact technologies.

By partnering with leading providers, CyVent helps MSPs deploy solutions like Haven that offer comprehensive, scalable protection while optimizing costs.

Ready to Transform Your Cybersecurity Strategy?

MSPs can no longer afford to take a reactive approach to cybersecurity. By adopting the strategies outlined here and leveraging the expertise of a trusted partner like CyVent, MSPs can protect their clients, enhance their operations, and position themselves for sustained growth.

Contact us now to learn how CyVent can assist you with the right solutions to streamline your cybersecurity strategy and maximize ROI.

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Hitting the Books: AI Education for Lifelong Learners

Posted by Yuda Saydun on Oct 24, 2024

CyVent-Blog_AI-Education-Lifelong-Learners

Just when I thought it might be time to relax and coast a little as I moved to California, I chose to dive deeper into AI, enrolling in some Stanford classes that promise to stretch my understanding beyond its limits. This is despite the fact that I've been speaking about the subject and preaching about “AI vs AI” for almost a decade. What would prompt me to, once again, grab a backpack, sack lunch, and hit the classrooms?

The decision wasn't just about adding another credential; it was about embracing the future and ensuring my skills remain sharp and relevant. As one of my most respected mentors taught me a few moons ago, "If you keep up, you'll be fine. If you pause for even three months, you'll be obsolete."

The State of AI in Education

The State of AI in Education

Artificial intelligence (AI) is revolutionizing the education sector, bringing a wave of innovation that enhances student engagement and improves educational outcomes. The integration of AI tools in educational contexts is becoming more widespread, with schools and institutions adopting AI-powered solutions to support both teaching and learning. Generative AI, in particular, has garnered significant attention for its ability to create customized learning materials and personalized learning experiences. This technology is not just a futuristic concept; it’s actively shaping the way educators approach their craft, making learning more interactive and tailored to individual student needs.

Current Challenges

Despite the promising potential of AI in education, several challenges need to be addressed to fully harness its benefits. One of the primary concerns is the lack of professional learning opportunities for educators. Many teachers need the necessary skills to effectively integrate AI tools into their teaching practices, which can hinder the adoption of these technologies. Additionally, there are significant concerns about student data privacy. The use of AI systems in education raises questions about how student data is collected, stored, and used, with the potential for these systems to exacerbate existing biases and inequalities. Furthermore, the high cost of developing and implementing AI-powered solutions can be a barrier for many schools and institutions, making it difficult to access these advanced tools.

Obsolescence Avoidance through Generative AI Education

Obsolescence Avoidance through Generative AI Education

While technology-focused education has always been a passion, I feel it has never been more important than this particular moment in time, as we are witnessing the advent of mass use of AI and its exciting, ever-evolving spheres of associated knowledge. It’s not enough to simply be aware of AI when its associated vectors, like Machine Learning, large language models, and even neural networks, blossom into new discoveries at a never-before-seen pace.

As founders, board members, and CEOs, we set the tone for our entire organization. Our approach to learning and adapting to AI cascades throughout the company, influencing how our teams perceive and embrace change. It’s crucial that we demonstrate a commitment to continuous learning, not just in words but in actions, which includes prioritizing AI training to ensure our teams are well-prepared to navigate its challenges and opportunities.

I know that in order to continue creating a safer online environment for people and businesses, we must have current, practical knowledge to bolster what decades of experience have already taught us.

Of course, we have all witnessed other technological breakthroughs during our lifetimes… the personal computer, mobile phones, internet connectivity, the cloud, advances in healthcare, and surgical methods.

➡️ The best technologists and innovators in any sector are those who never stop learning. They know technology doesn’t wait for them to have time to “catch up.” Instead, the most impactful and successful technologists have perpetually run alongside the ever-ticking secondhand of advancement and innovation.

Learning is a dynamic and fluid process in which sometimes, yes, an academic whitepaper is read, but other times, this may look like simply taking the time to learn from a colleague in conversation. Many wouldn’t necessarily think of themselves as lifelong learners but simply people who follow a natural curiosity that is often focused on their passions and interests.

Many Paths to Learn More About AI

Many Paths to Learn More About AI

One of the best things about our connected age is that it has made knowledge in many formats generally accessible, including insights into the latest AI technologies.

Though I am currently enrolled in college courses (some online and others in-person), there are many ways to stay abreast of the latest uses, innovations, and discoveries of AI and its various applications. Educational technology plays a transformative role in enhancing learning outcomes through adaptive programs and data analysis. Whether an employee upskilling to leverage new AI-based tools in the workplace or a C-suite level innovator, this vastly expanding knowledge base is now accessible to all.

In addition to formal Stanford courses, I’ve found the following educational resources to be helpful in my quest to further my AI knowledge.

AI Education via Formal Workforce Training and Professional Learning

AI Education via Formal Workforce Training and Professional Learning

Formal training is making up a large part of AI education at the moment, as we are witnessing the rapid evolution of entire swaths of the workforce. Collaboration with school leaders is essential to ensure safe AI practices and enhance the learning environment for teachers and students. From customer service representatives to entire accounting, sales, and marketing floors of multinational corporations, organizations and individuals are realizing the necessity of continuing education AI.

If you’re interested in formal education in AI for your teams, I suggest you look into Correlation One‘s training programs. Their platforms are easy to navigate, and they have programs for workforce development, enterprise upskilling, or individual learners. Training is approached from a foundational level that gives context to the information provided. Their Generative AI readiness toolkit is a prime example of this.

Self-Guided or Independent Learning for AI Knowledge and Student Progress

Self-Guided or Independent Learning for AI Knowledge and Student Progress

Opportunities to learn about the AI ecosystem and its less-technical aspects—such as its potential societal impact or possible future applications—abound in the thousands of AI books that were released seemingly overnight. 

Finding an engaging read (or listen, if you prefer audiobooks) by a credible source can be a daunting prospect. This curated list is a good place to start. Some books explore the technical and scientific aspects of AI, like Why Machines Learn: The Elegant Math Behind Modern AI by Anil Ananthaswamy. Others offer guidance to business leaders, like The AI-Savvy Leader: Nine Ways to Take Back Control and Make AI Work by David De Cremer. Still, other recent books examine and question the potential socioeconomic impact of this transformative technology as Parmy Olsen does in Supremacy: AI, ChatGPT, and the Race that Will Change the World

Finally, professional and social networks can be an invaluable guide to finding useful information about whatever specific facet of AI education you're looking to pursue. In addition to knowledgeable recommendations, sometimes social media posts from respected industry leaders can be tremendously helpful. An excellent example of this includes this LinkedIn post and a helpful infographic from Denis Panjuta. 

Transforming the Learning Experience

Transforming the Learning Experience

AI has the potential to transform the learning experience in profound ways. By creating customized learning materials and providing personalized feedback, AI-powered tools can help teachers identify areas where students need additional support. This enables educators to provide targeted interventions, significantly improving student progress. Moreover, AI can increase student engagement by offering interactive and immersive learning experiences that cater to different learning styles and abilities. Imagine a classroom where each student receives a tailored educational experience, keeping them motivated and engaged. This is the future that AI technology promises.

Generative AI in Education

Generative AI stands at the forefront of educational innovation, offering the potential to revolutionize how we create and deliver learning materials. This technology can help teachers develop tailored lesson plans and educational resources that meet the specific needs of their students. By automating tasks such as grading and feedback, generative AI can also reduce the workload of teachers, allowing them to focus more on direct student interaction and support. The ability to generate customized content on demand means that educational resources can be more dynamic and responsive to the needs of the classroom.

Creating Customized Learning Materials

Creating Customized Learning Materials

Generative AI can be a game-changer in creating customized learning materials, such as textbooks, worksheets, and educational games. This technology allows for the development of personalized learning experiences that cater to the individual needs and abilities of each student. By reducing the cost of developing and implementing educational resources, generative AI makes high-quality education more accessible to students from diverse backgrounds. Imagine a world where every student has access to materials that are perfectly suited to their learning style and pace. This is the promise of generative AI in education, making learning more inclusive and effective for all.

Leverage the Experience and Lifelong Learning Knowledge at CyVent

Leverage the Experience and Lifelong Learning Knowledge at CyVent

As a security professional, I am driven by intellectual curiosity and a deep, ongoing interest in advanced technology. I am equally passionate about leveraging my knowledge and experience to create safer online environments for business owners. 

That's why I founded and why we've built our offerings to focus on a holistic approach to cybersecurity. This is the philosophy that guides our entire team of cybersecurity technologists, former CISOs, senior line executives, and academic thought leaders. 

Our team has skillfully assessed cybersecurity solutions with what fits best for each unique client because, as a crew of lifelong learners, we all hold each other to the same standard of being current in the latest science, research, and technological knowledge. Contact CyVent today for a free consultation, and let us put that knowledge and experience into action to better protect your organization.

Looking Ahead: Our Responsibility as School Leaders

Looking Ahead_ Our Responsibility as School Leaders - sustainable competitive advantage

As we navigate this journey together, let's ask ourselves:   - How can we better integrate AI learning into our board and executive development programs? - What steps can we take to ensure our organizations are prepared for AI-driven disruptions in our industry? - How can we leverage our growing AI knowledge to create sustainable competitive advantages?   By embracing lifelong learning in AI, we set a powerful example for our entire organization and pave the way for innovation and growth in the years to come.

 

Partner with CyVent and Go From MSP to MSSP in a Flash

Posted by CyVent on Sep 11, 2024

Partner-with-CyVent_blog

Complex Threat Environments Need Streamlined Solutions

MSPs operating in today's advanced technology environment are no longer satisfied with simply facilitating software solutions for clients. They – rightfully – wish to play a proactive, integrated role in their client's cybersecurity strategy.

This is not a simple integration of additional services. Expanding an offering from an MSP to an effective MSSP can mean specific additional cybersecurity training for staff, integrating new tools into existing workflows, and occasionally learning entirely new facets of an existing technological landscape, such as email or network security.

Still, making the leap from MSP to MSSP is well worth the trouble, especially since it can easily be done without adding fixed expenses, by leveraging the capabilities of a trusted cybersecurity services provider. In addition to increasing the value offered to clients, transitioning to an MSSP offers a multitude of additional benefits. A more robust cybersecurity stance positions MSPs to strengthen client relationships, increase revenues, negotiate better insurance rates, and achieve a more competitive stance in a sometimes saturated marketplace.

Partner with CyVent for Seamless Transition 

It's obvious that AI-driven solutions will be the cornerstone in any evolution of an MSP to an MSSP. Further, the integration of enhanced technologies must be carefully assessed to correctly ascertain what benefits they offer. That kind of holistic assessment requires deep expertise in multiple areas. 

A partnership with CyVent offers a simple solution to overcome both of these potential barriers. Our experts are industry veterans who leverage their decades of experience to carefully assess what specific AI-enhanced technologies meet the needs of a client. There are no blanket implementations of generic, "industry standard" technologies, and AI is never recommended just because it's an AI-based technology.

This focus on boutique solutions ensures a smooth transition for the MSP. CyVent begins crafting custom solutions from a foundational perspective of integrating any new tools into an MSP's existing tech stacks and workflows. This focus on efficiency also serves to potentially save costs by negating the need to hire additional IT staff members and ensures minimal service disruptions for existing MSP clients. 

A core CyVent value is that cybersecurity solutions must do more than detect threats. Rather, today's threat landscape demands that MSPs are also able to prevent attacks. This can only be achieved with advanced technologies designed to leverage automation while simultaneously adapting and evolving. 

This is why CyVent works with AI technologies that are pushing the boundaries of machine learning and only offer the most cutting-edge solutions that are expertly assessed. Knowing that even the best tools are only as good as the craftsman who is using them, we augment our technology stacks with U.S.-based expert monitoring while still leveraging the full potential of automation.

Positioning for Your Company for Growth

Becoming a partner with CyVent positions MSPs to pursue large growth opportunities. Peace of mind is offered through enhanced monitoring and response. Operational efficiencies are created by increasing the ability to deploy, maintain, and update integrated tooling. A CyVent partner MSSP always has access to cutting-edge tools, industry best practices, and highly trained security experts. 

All of which are steps that build a staircase to being a premium, value-add MSSP. 

If you are interested in learning more about a seamless transition to becoming an MSSP and what the next steps to becoming a partner with CyVent are, contact us for a free confidential consultation. Our team will be happy to be part of your MSP's journey into its next growth chapter