Are you prepared for the next wave of the digital revolution and the inherent security issues that are sure to come with these new solutions?

Continuous change is a must in the IT space, and the ways people deploy and utilize advancements can invite a massive new wave of cyberattacks and security breaches. Cybercriminals love disruptions, and new technologies and procedures often create vulnerabilities that malicious basement-dwelling hackers and nation-state attackers can exploit. Those incidents are already gaining far too much traction in the business community, and MSPs should take note of the IT security trends they should be following.

Amy Luby, Founder of Modern MSP

AUTHOR: Amy Luby, Founder of Modern MSP

The ways in which people deploy and utilize advancements can invite a massive new trend of cyberattacks and security breaches.

According to the Identity Theft Resource Center (ITRC), 92% of data breaches in Q1 2022 were due to cyberattacks. While the amount of information loss attributed to system and human errors, document or device theft, and skimming is not declining (it makes up the remaining 8%), internet-driven incidents are growing exponentially. The growing number of these attacks provides MSPs with an excellent opportunity to expand security service offerings in this area.

The growing number of these attacks provides MSPs with an excellent opportunity to expand security service offerings in this area. 

That’s partly due to the ever-increasing list of threats and vulnerabilities. From ransomware and geo-targeting phishing attacks to the questionable protection measures around artificial intelligence (AI), IoT, Backup-a- a-Service (BaaS), and other new technologies. Understanding the security gaps and advancements in trends is critical for MSPs. So is the ability to forecast potential issues for clients while providing proactive solutions makes security-minded IT service professionals invaluable to the SMB. Since MSPs typically handle the protection responsibilities for those businesses, they must maintain a high level of awareness of the latest technology trends and threats. Here are some of those key developments to keep clients’ and providers’ data, systems, and reputations intact.

Ransomware and geo-targeted phishing attacks

As expected, 2022 is becoming an even more dangerous and expensive year for defending organizations against all types of cybercrime. According to the ITRC, ransomware remains one of the leading causes of data breaches, and that trend is sure to continue.

As expected, 2022 is becoming an even more dangerous and expensive year for defending organizations against all types of cybercrime.

Geo-targeted phishing attacks are also becoming more prevalent as cybercriminals localize their efforts to gain access to business and personal information. That’s why managed service providers must focus on prevention measures such as awareness training and monitoring services to reduce the damages caused by human errors. The best way to stop or minimize these attacks is to educate and add more layers of protection.

Cybersecurity mesh

Protection networks have been around for a long time, providing defenses for complex systems and remote/hybrid workforces. One of the latest offerings is a cybersecurity mesh, a defensive solution, and strategy that independently secures each device with its own perimeters — such as firewalls and network protection tools. With the shift to remote work and the increasing need to protect digital assets outside of the office, these solutions secure everything from data centers and workstations to cloud infrastructure.  

The Internet-of-Things (IoT)

Digital transformation is the perfect storm for IT service providers. These services allow clients to take advantage of the latest technologies at an affordable price and streamline operations for MSPs. On the flip side, IoT solutions create a host of new opportunities for cybercriminals to infiltrate IT environments. Despite the rising threats, the market for these tools exceeded $267 billion in 2020 (the latest year recorded), according to the Boston Consulting Group. Having in-depth knowledge of IoT systems and management techniques, especially around cybersecurity, gives MSPs a real advantage over less knowledgeable peers.

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Backup-as-a-Service (BaaS)

One of the most exciting trends for managed security service providers is the expansion of backup-as-a-Service options. MSPs can easily manage clients’ data and applications stored in the cloud and provide infrastructure support and comprehensive security protection. While BaaS offers many advantages, it also requires providers to shift their operations and adopt different billing models. Since many organizations use a variety of SaaS platforms, such as Microsoft 365 or Dropbox, MSPs must be able to support a variety of platforms and backup all related data and applications. Moreover, providers should deliver training to employees and train new team members on ensuring all information is properly protected, a crucial step since data loss could impact their operations, revenue, and the company’s reputation.

Providers should deliver training to employees and train new team members on ensuring all information is properly protected

Automated disaster recovery testing

With the amount of data accrued every day, IT service providers need to find efficient ways to manage and secure everything their clients collect and store. Automated disaster recovery (DR) testing simplifies those processes and allows MSPs to check those plans more frequently. With advanced new tools, it’s easier than ever to keep track of different IT assets and ensure they’re covered in the event of a ransomware attack or other type of disaster. Automation makes it easier to manage multiple clients, monitor service quality and availability, and automatically install updates.

Be in the know

As data breaches continue to rise and cyberthreats become more prevalent and sophisticated, MSPs must stay ahead of IT security trends in their knowledge and skills. Knowing what technologies, vulnerabilities, and management options are on their way helps providers better support their clients. That insight also gives MSPs more time to plan new security defenses and better protect the businesses that rely on their expertise − including their own.

If you have something to say about this topic, I’d love to hear from you over in the Modern MSP Facebook Group.

 


About the author

Amy Luby is the Founder of Modern MSP. A proven entrepreneur and pioneer in the IT services industry, Amy founded and built one of the first Managed Services Providers in America. Next, she expanded that business into one of the first Master MSPs, defining both business models in the process. You can connect with her on Facebook, Twitter, and LinkedIn.