Why Managed Service Providers are Partnering with MSSPs to grow Managed IT Services Business

By Jim Hocking, Collabrance/GreatAmerica – October is National Cyber Security Awareness Month, which is an annual initiative to raise awareness about the importance of cybersecurity. As security becomes more and more complex, it’s crucial that the proper precautions are being taken proactively in order for businesses to maintain the integrity of their networks. If you attended the recent BTA National Conference, you heard Daniel Bartus with Bank of America/Merrill Lynch quote that the cost of cyber-attacks is expected to go from $400 billion in 2016 to $6 trillion by 2021. This will be more profitable than the global trade of all major illegal drugs combined.

Managed Service Providers are finding out they must offer sound security solutions in order to remain lucrative players in the managed services space.

We recently conducted a Managed Security Service Provider (MSSP) survey where we learned that 87% of managed service providers reported they have lost customers because their IT offering lacked security solutions the customer was seeking. This is one reason why so many solution providers are now relying on MSSP partnerships to address their customers’ IT security needs. In the same survey, only 5% of MSSP’s reported losing customers due to a lack in their security offering.

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