When cybercriminals hack into an organization’s network, they can do severe damage. First of all, business will be interrupted in the event of an attack. Normal day-to-day activities will have to be delayed or halted altogether until security experts are done with investigating the incident and eliminating the threat. This is particularly true in cases of a ransomware attack when criminals are able to hijack a company’s servers and/or its transactions.
When sensitive information is stolen such as customer credit card details, these can be used to steal customers’ money. As a result, customers will no longer trust the company and may, in fact, try to influence others not to do business with the organization.
Attacks can also expose a company’s trade secret, making the business lose its competitive edge.
Why can’t attacks simply be stopped?
1. Hackers have the expertise, tools, and all the time they need to attack different organizations.
2. The continuous changes, improvement and overall development of technology typically leave many holes and gaps for hackers
3. Lack of budget and skilled people to totally stop these criminals.
Approximately ten years ago, MSS (Managed Security Services) became available to all types of organizations. It started out as a great service but eventually, MSSPs (Managed Security Service Providers) proved to be not as effective as organizations have hoped in detecting and responding to targeted attacks. Consequently, MDR was introduced as a service that can complement or fill in the gaps that MSSPs missed.
According to Gartner’s 2017 Market Guide for Managed Detection and Response Services, “By 2020, 15% of organizations will be using services such as MDR, which is an increase from fewer than 1% today.”
We have discussed previously why MDR is a better solution to preventing cybercrime.
In its Market Guide for MDR, Gartner explained that there is an overlap between MSS and MDR and it is increasing. This adds to the confusion in the market and has been making it difficult for users. MSS and MDR have distinct characteristics that buyers need to understand.
The main difference between MSSPs and MDR is that the primary focus of MSSPs is on technology. The MDR approach, on the other hand, “spans people, process, and technology elements and will drive a majority of security market growth over the next five years,” said Sid Deshpande,” principal research analyst at Gartner. This means, added Deshpande, “Prevention is futile unless it is tied into a detection and response capability.”
Today, several MSSPs are leaning more toward MDR as they provide only a few elements associated with MSS. More and more MSSPs, both global and regional, have been adding MDR-type services to their portfolios. This proves that MDR is a better cybersecurity solution.
If you are still using your legacy SIEM and/or MSSP, you need to know:
Three Important Reasons Why You Need to Break Up With Your Legacy SIEM and MSSP
1. Attacks are not linear
Organizations, with the help of their MDR provider, need to monitor and correlate all traffic/incidents – North to South, and East to West – with remediation.
2. There is a need for a smarter cybersecurity solution
MSSPs have been proven to be no longer effective. Businesses cannot afford to just wait for alerts. They need to do proactive threat hunting to prevent signatureless types of malware from getting into their systems and networks.
3. It is time for Holistic approaches to cybersecurity
Organizations need fully-managed detect and response solutions with automated defenses and trending analysis for prevention.
If you’re still not sure if you should shift to MDR, read our next blog post to see a point by point comparison between MSSP and MDR services.
Netswitch offers MDR services to small and medium-sized businesses as well as large enterprises. For more details on how we can assist you in establishing a cybersecurity solution to fit your environment and meets your requirements, please contact us today for a consultation.