Layered Security: Better Cybersecurity and More Recurring Revenue
With over 3.5 billion data records stolen from businesses and government agencies last year, it is no hidden secret that many companies lack some of the most basic cybersecurity protection for their infrastructure. This lack of simple security leads to costly malware infections and data breaches that could potentially cause companies to shut down.
In a recent study, it was discovered that more than half of SMBs do not have an effective cybersecurity plan in place. The same study described that in the event of a ransomware attack most IT managers in businesses of 50 to 1,500 employees believe their company would close.
While some trust in endpoint security solutions alone to circumvent cybercrime, it has proven to be not as effective as a layered security approach. VIPRE Security recommends implementing a layered cybersecurity approach to detect and stop some of today’s most progressive threats.
What is Layered Security?
Layered Security is simply a security stance that utilizes multiple “layers” of cybersecurity solutions to detect and stop attacks from a virtual cornucopia of possible threat vectors available to cybercriminals. For example, if you already utilize an endpoint security solution to protect end-user devices you would add email security as an additional layer to protect your email threat vector on top of your device’s security.
Why is it Effective?
Layered security is effective because it helps you detect and stop attacks from not just one attack vector but the many that are used by malicious actors.
A layered security approach can prevent some, but not all human error. According to IBM’s 2018 “Cost of a Data Breach” report, 25% of data breaches in the U.S. are triggered by human error. While much of human error can be corrected with effective training, the well informed MSP and IT admin will go with the safest option of not allowing malicious content to reach end-users.
Phishing attacks are great examples of the need for layered security if human error is an issue. Malicious actors could utilize graymail weaponization to bypass general email security features with a cleverly designed “marketing” email riddled with links that could turn malicious once it reaches an inbox. A click-happy end-user could believe this to be a real email and click the link exposing the network to any sort of malware imaginable. If there was just a simple layering of email and endpoint security in place this could’ve been prevented.
While human error can be prevented to a fault, it is getting harder and harder to stop creative actors who have capitalized on the advent of machine learning. Machine learning has enabled hackers to attack organizations while changing tactics during their assaults. A good layered cybersecurity approach prevents the element of surprise by neutralizing possible threat vectors. While it may seem cumbersome, I believe our Sr. Director of Customer Success at VIPRE puts it best, “Cybersecurity is not convenient.”
No matter what, the cost of breach remediation, costs far more than implementing effective layered security. With the average SMB losing around 15 working hours per month and about $20,000 in lost opportunity costs to ransomware attacks, cybersecurity is no joke and must be taken seriously by MSPs.
How Does it Increase Recurring Revenue?
While effective cybersecurity is very important to MSPs who wish to provide always-on security to their end-user clients, the bottom line is also very important to MSPs. MSPs are always seeking to improve profit buy capitalizing on recurring revenue. A layered security approach is built to not only increase cyber defenses, but also increase the recurring revenue MSPs can bring in.
How you ask? It is simple; by adding additional cybersecurity services, you can provide more value to your client’s with better security and allow you to bring in more revenue. With the implementation of layered security, you can offer varying levels of defense to clients and maximize the revenue potential of your existing client base.
No matter what, MSPs and IT solution providers cannot ignore the need for cybersecurity in today’s threat landscape. However, it doesn’t hurt that it also allows them to generate additional revenue streams to upsell the existing customer base.