Cybersecurity Preparedness 2024

By Chris Leach, Board Advisor for Judy Security

The new year is just around the corner.  We have had a great Thanksgiving meal and soon our thoughts will turn to what is to be accomplished in 2024.  Many businesses will start the year off with optimism while many new businesses will be looking for a way to get a leg up on the competition.

In an increasingly digital world, small and medium-size businesses (SMBs) have become prime targets for cybercriminals. With the rapid advancement of technology and the growing reliance on digital infrastructure, the need for robust cybersecurity measures has never been more critical. As we enter a new year, SMBs must prioritize cybersecurity to safeguard their sensitive data, protect their customers, and ensure the continuity of their operations. This presents you, the Managed Service Provider (MSP), an ideal opportunity the onboard new customers or strengthen your relationship with your current customers – perhaps you are a small or medium sized business yourself!

So, what should the MSP be aware of in 2024 as it relates to cybersecurity, so you are better prepared to work with your current and future customers?  First let’s look at the overall cybersecurity space.  There is a tremendous lack of expertise.

According to a report issued by (ISC)², there is a global shortage of cybersecurity professionals of over 3.12 million and this number is growing.  Most of the available processionals come at a high price often out of reach of the typical business.  The turnover of these professionals is high as they are often lured into moving to another company for higher pay and benefits.

Next, is the cost element of solutions, platforms, and software.  Unlike their larger customers, the large enterprise, the SMB owner cannot afford the high costs that are a part of a robust solution.  Providers of these solutions have a difficult time working with the SMB community due to their cost structures.  Therefore, the SMB customer must either deploy a solution that does not provide a strong protection to their company or simply hope that they are not subject to a cyber attack.

In addition to offering an integrated solution, the MSP should also prioritize continuous training and education for their own technical teams and the employees of their SMB customers. Staying up to date with the latest threats and technologies is crucial in the ever-evolving cybersecurity landscape. By providing ongoing training, the MSP can ensure that their customers have the expertise and knowledge necessary to maintain good cybersecurity hygiene.

Finally, there has been a tremendous amount of legislation globally around the topic of privacy.  Starting in Europe with GDPR the need for strong privacy policies and controls has been moving across the globe.  In the United States there is currently no Federal mandate.  Instead, many states have created their own requirement.  Among those states with a current privacy requirement are New York, California, Colorado and Utah and Virginia – this list is growing.  Some of these laws overlap while others contradict each other.  These laws require a breach response, notification requirement and customer rights.  It is important for SMBs to have a robust cybersecurity program in place to protect sensitive customer data and comply with legal requirements. The MSP can assist their customers in executing and responding to privacy laws, further solidifying their role as a trusted cybersecurity partner.

To summarize the issues that an SMB must deal with:

• Lack of available cybersecurity expertise with the corresponding budget
• Access to state-of-the-art solutions and software due to cost constraints
• Inadequate and current training and education
• Added business requirement of complying with the various privacy laws

You, the MSP, can assist your customer by offering a cybersecurity solution that is an “easy button” for them.  This may be an additional revenue stream for you and will strengthen your relationship with them.

Let’s take a few moments to call out the elements of a strong solution provider for a robust and current cybersecurity that should be considered.

When selecting an MSSP provider, the MSP should look for one that offers an all-in-one solution and can demonstrate how they keep their solutions and platforms up to date in response to the rapidly changing threat landscape. The provider should also offer various levels or packages of services to cater to the specific needs of different businesses. Seamless installation and self-service options for changes should be provided to make the transition to the MSSP platform as smooth as possible.

By offering a comprehensive cybersecurity solution and addressing the specific challenges faced by SMBs, the MSP can position themselves as a valuable partner in safeguarding sensitive data, protecting customers, and ensuring the continuity of operations. This not only presents an opportunity for additional revenue but also strengthens the relationship between the MSP and their customers. With the right approach and a focus on providing effective cybersecurity solutions, the MSP can become the hero for SMBs in the digital age.

All these things will make you the hero and take away some of your operating frustrations and concerns.

As always – Good Luck and Good Computing

About the Author

Chris Leach is a Board Advisor for Judy Security. His career spans over 30 years in risk analysis, operations, strategy and financial controls and has included senior management, consulting and entrepreneurial experiences. He has held positions at HP, HPE and DXC. Chris is the founder of CISO Tool Box where he works with CISOs, CTOs, CIOs on security strategies, security mega trends and emerging threats. Follow Chris can be reached online at LinkedIn and at the Judy Security website: https://www.judysecurity.ai/