This blog was originally published on MSSP Alert on September 20, 2024 Cybersecurity platformization is usually discussed as it relates to large organizations. But cybersecurity service businesses stand to benefit as much from platformization as enterprises — if not more so.

Sedara Named to MSSP Alert’s 2024 List of Top 250 MSSPs Eighth annual list reveals leading MSSP, MDR and MSP security companies The Top 250 MSSPs for 2024 honorees were announced on October 15 at MSSP Alert Live. The 2024 MSSP Top 250 list reveal marks the first time the list has been unveiled at MSSP Alert’s annual live event. Honorees will also be celebrated at an evening party that coincides with MSSP Alert Live. Sedara was ranked among the Top 250 MSSPs for 2024.

The security and compliance landscape is ever-evolving, meaning the demands organizations need to meet today can change rapidly. While most IT teams have defined processes to handle these requirements, they may not have the capacity to address all the tasks necessary to maintain the organization’s security posture. ‍ If your organization has encountered a similar situation before, appointing a managed security service provider (MSSP) can be a solution.

It wasn’t too many years ago that only large-scale organizations and enterprises were compelled to worry about cybersecurity. They were the primary targets for malicious actors, and so they seemed to be the only ones thinking about defense. But just like most things, that has completely changed. Small and medium-sized businesses are just as vulnerable to cyberattacks. Without the size and resources to bring security in-house, most turn to managed security service providers (MSSPs) for help.

MSSPs have huge potential for growth as more and more companies turn to experts to outsource their cybersecurity. Tailwinds such as escalating cyber threats, the need to protect more customer data than ever before, and growing compliance requirements are driving the managed security services market’s growth at a compound annual growth rate of 15.4% from 2023 to 2030.

If you’ve worked in the Managed Security Services Provider (MSSP) industry for a while, you might remember the era when the MSSP tool set consisted only of internal risk management solutions – like software that scanned client endpoints and application source code. Those days are gone. Today, external risk management has become just as critical a part of an MSSP’s job.

If you’re in the Managed Security Services Provider (MSSP) business, landing new customers is great. What’s even better, however – and more crucial for long-term business success – is retaining existing customers. After all, keeping customers can cost up to 25 times less than acquiring new ones, according to Harvard Business Review.

The SecOps Cloud Platform (SCP) helps managed security service providers (MSSPs) improve their response times in several ways. Here is an overview of the most significant use cases.

SOAR is yet another set of cybersecurity tools and technologies that’s exciting to talk about, looks good on paper, but is fraught with financial difficulties for MSSPs seeking to deliver an outsourced security solution that maintains a healthy ROI.