November 9, 2023
Israel's Tel Aviv-based Check Point Software launched a series of updates to its MSSP (Managed Security Service Provider) partner agenda this week.
It says it has done so to address the "myriad challenges MSSPs face in an ever-evolving threat landscape," mentioning its latest round of modifications to the program "exist developed to address shortcomings like cybersecurity talent shortage and the surge in digital threats."
Cybersecurity as a service provider, Sophos found in its 2023 State of Ransomware Report that, on average, 66% of global organizations got hit by a ransomware attack within the last year, with 76% of those companies having their data encrypted.
The good news is, according to the report, 97% of those companies recovered their data. But they had to pay for it, on average, some $800,000, which resulted in 84% of those firms losing revenue in the private sector.
Recovery, at least for 24% of companies hit, took between one and six months - laying out a substantial case for the kind of work getting done by those in the MSSP community and the prospect that lies ahead for those possibly looking to break into the space.
Introducing Check Point Updated MSSP Partner Program
Check Point's Francisco Criado
According to Francisco Criado, VP of the global partner ecosystem at Check Point Software, whom we sat down with for an interview, the firm introduced what it calls - a more 'simplified onboarding process,' a manner to predict revenue streams, and a pay-as-you-go model.
It did so, hoping to address the commitment of being bound to long-term contracts, telling us that adding a pay-as-you-go consumption model should all but nix that notion.
"There are usually upfront commitments, pooled licensing, or subscription costs - we wanted to extend flexible consumption models like PAYG, which is rooted in (true) consumption, ensuring that customers only pay for what they use," said Criado.
Transparency and precise billing without excess can go a long way and result in greater customer satisfaction, something Criado says speaks to Check Point's charge to ongoing portfolio refinement.
That, and ensuring they evolve to meet the dynamic needs of the market, Criado said. And he maintains this "should lead to a more optimized go-to-market strategy alongside our valued partners." Check Point Software also launched a portal with a unified management solution and various new forms of free training and support for MSSPs with its latest round of partner program updates.
MSSPs Could Reap Benefits of Check Point Partner Program
Anurag Agrawal, founder and chief global analyst at Techaisle, told Channel Futures that four initiatives of the Check Point Software's MSSP program particularly resonate with him, adding: "the unified management portal, complimentary training, horizon playbooks, and a consumption-based pricing model are the major benefits to partners."
He says that the real test for Check Point Software lies in its ability to capture the attention and financial investment of a highly intricate and crowded IT security ecosystem, telling Channel Futures: "this will be a crucial factor in determining its success."
Commenting on where partners tend to place their time and investment, Agrawal said it is with vendors that help drive sales, profit, and simplicity. This is no longer sufficient, he told us, adding, “even though the firm has accounted for the simplicity factor - more is needed.”
"It is not enough for partners to pivot their resources from other security suppliers to focus on Check Point," the analyst told Channel Futures, adding, "they also do not talk about how partners can layer their high-margin services on top of its solutions."Having released its third-quarter earnings, Check Point Software posted a total revenue of $596 million, an increase of 3% year-over-year, with security subscriptions reaching $248 million in revenue, a 15% year-over-year hike, highlighting the potential for earnings in the space for partners of the firm.
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