Over 65% of managed security providers (MSPs) plan to expand their business and grow revenue but are unsure of the best path forward. MSPs find success by augmenting their portfolio of products with managed security services. It is recommended to take it one step further and dip into compliance. Being compliant with regulations is necessary for many verticals; MSPs that offer compliance products or services with compliance frameworks are able to capitalize on a large portion of IT spend. MSPs that offer compliance products typically experience increased revenue, realize enhanced customer loyalty and improve their margins.

Compliance might be a necessary step for IT leaders in many organizations, but it’s not adequate to reduce residual IT security risk to tolerable levels. This is not news. But why is this the case?

The key point to understand is that compliance frameworks represent a starting point to comprehensive cybersecurity for MSP customers, but they are not a “silver bullet” for achieving security. Getting trained and certified for standards such as Health Insurance Portability and Accountability (HIPAA), Payment Card Industry Data Security Standards (PCI DSS), and National Institute of Standards and Technology (NIST) 800-171, while necessary, is not sufficient. If your customer’s network becomes the victim of a security breach, then compliance with guidelines alone may not be an adequate defense, although it may help mitigate specific regulatory penalties. It is recommended to:

Compliance Support Through Technology and Partnership

MSPs can gain compliance support through a Security Information and Information Management (SIEM) solution that provides visibility and monitoring, which can lead to greater IT and infrastructure efficiency and effectiveness. Demonstrate your capability as an IT problem solver to your customers and show return on investment with security and compliance. Don’t take adding compliance and security lightly, though–it’s a strategic decision that requires an assessment of your technology capabilities, staff skills and expertise, and strategic focus.

It’s crucial for you to demonstrate that you are a trustworthy security and compliance role model. As an MSP, you must be able to articulate the various regulatory frameworks, outline actions that customers must take, and highlight how to prioritize compliance and security in light of today’s advanced threats. A layered defense is needed to deter persistent cyber criminals and show how you simplify network and security operations, reduce the risk of a data breach, streamline compliance efforts, and mitigate financial exposure for your customers and your own business. It will solidify your role as a trusted adviser, as well as a compliance and security expert.

Here are some best practices to follow in adding compliance and security to your IT portfolio:

Effective management of an organization’s business and technology risks is the foundation of a robust security program. As an MSP, you are well-positioned to advise your customers on how to address guidelines that compliance regulators and auditors require. The decision to add managed security services that encompass compliance provides a wide range of benefits designed to help you engage customers in higher value conversations, win incremental new business and accelerate your profits.

Ready to explore managed security provider benefits? Learn more about Netsurion and the easy, yet systematic, process we use to ensure consistent partner success.

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