According to a recent report from OpenText, an increasing number of businesses are outsourcing their security needs in an effort to consolidate security tools due to resource and cost constraints. The report states that 86% of MSPs (Managed Services Providers) and MSSPs (Managed Security Service Providers) customers are seeking external assistance in managing their security needs.
The current complex economic environment has exacerbated staffing issues in the security industry, leading to a shortage of skilled professionals. Geoff Bibby, SVP of Marketing and Strategy at OpenText Cybersecurity, acknowledges the challenge faced by already understaffed security teams and emphasizes the need for simple and effective security solutions. MSPs, equipped with comprehensive cyber resilient portfolios of cloud-based data security and data management solutions, are uniquely positioned to help clients optimize their security while operating with limited time and resources.
In addition to consolidating security tools, the report reveals that 88% of respondents believe that security and compliance tools are merging. SMBs (Small and Medium-sized Businesses) are particularly interested in outsourcing data security, infrastructure monitoring, and risk reduction. The need for comprehensive, on-demand security is identified as the top reason why customers use the services of MSPs and MSSPs.
When it comes to the challenges faced by MSPs and MSSPs customers, cost savings and the need to simplify security programs are prominently mentioned. Additionally, staffing shortages or reductions and a lack of security expertise pose significant hurdles for these customers. Integrating technology solutions is reported as the biggest challenge for establishing new partnerships with vendors.
The technology and IT services sector experienced the highest customer growth for MSPs and MSSPs in 2022, followed by the financial services and healthcare industries. This growth trend is expected to continue in 2023. Respondents also identified these sectors as the ones most in need of cybersecurity services due to limited resources or education.
To secure new partnerships and retain existing MSPs and MSSPs, vendor partner programs have become more personalized. This includes tailoring programs and benefits specific to the needs of individual partners. The report highlights that 70% of respondents still find value in vendor tiering programs, which provide partner recognition and support goal setting and business outcomes. Co-marketing support is identified as the most important benefit for channel-focused companies to offer, followed by referral programs, co-selling incentives, and market development funds (MDFs). Event support is considered the least important benefit.
In conclusion, as businesses face resource and cost constraints, the outsourcing of security needs to MSPs and MSSPs is on the rise. The report from OpenText highlights the demand for consolidated security tools and the merging of security and compliance solutions. It also sheds light on the challenges faced by MSPs and MSSPs customers, as well as the evolving needs of these service providers. With the technology and IT services sector leading the way in customer growth, personalized partner programs and valuable benefits are crucial for successful partnerships in the cybersecurity industry.