Potentially the benefits from engaging a MSS provider has the capability of winning hands down when compared to any in-house effort. Following are a list of probable benefits gained from a relationship with a MSSP. These factors may contribute towards reducing risks faced by the client through a combination of risk mitigation and risk/liability sharing between the client and the MSSP.

1. Lower Cost of Ownership: The cost of engaging a MSSP is typically less than hiring in-house, full-time security experts. The service provider can spread his investments in analysts, hardware, software, and facilities over several clients, reducing the per client cost.
2. Leveraging Expertise: Qualified professionals with the appropriate skill set and experience are not available easily, hence the company needs to recruit, train, compensate and retain professionals. The cost for doing the same is usually prohibitive. However, while outsourcing the MSSP, providing top-notch personnel becomes his responsibility. Since the service provider is able to provide a variety of career options and exposure, he is more likely to retain personnel. Thus the company gets to leverage on the expertise offered by the MSSP
3. Ensuring high level of Service: When an organization outsources from MSSP’s they receive near real time results 24 hours a day, 7 days a week and 365 days a year. However, in-house personnel would be available only within the office hours. MSSP’s can be held accountable to the Service level Agreement they sign with the company. Failure to do so can attract financial implications. Since MSSP’s have strict contractual agreement and must maintain their reputation in the market, their control measures are very stringent in terms of documentation and careful implementation.

Trends

Several factors will affect the market space of Managed Security Service Providers in the next few years. Many new entrants are predicted to enter this space in the next few years. The new entrant would be of two types essentially

1. Network Service Providers: Network Service providers would grow up the value chain to start providing Managed Security Services.

Security Management Products will grow up the learning curve, thereby reducing the workload of monitoring firewalls, IDS’s, Antivirus products, Content filters etc. Inspite of being high on costs these products would cater to a market segment, which is reluctant to outsource security.

Once you have frozen on your requirements that you need from the MSSP, research in detail for prospective companies.

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