As smaller Managed Service Providers (MSPs) strive to grow and expand their services, they often face significant challenges in the realm of cybersecurity. With rising threats and increasing client awareness of cyber risks, there’s a strong demand for advanced cybersecurity solutions for MSPs. Yet, many providers find themselves constrained by limited budgets and a lack of specialized cybersecurity expertise. This presents a unique opportunity for MSPs to partner with Managed Security Service Providers (MSSPs), leveraging their knowledge and experience to offer comprehensive security services.
You hardly need us to shout about the advantages of outsourcing, but in this blog, we’ll explore some of the MSSP partnership benefits that could help your MSP overcome common growth challenges and tap into new revenue streams.
Speaking of growth challenges, why don’t we start there?
Challenge #1: Difficulty Diversifying
In today’s market, clients prefer a one-stop-shop for their IT and cybersecurity needs. This expectation can be daunting for smaller MSPs that lack the resources to offer a full suite of services. Clients are increasingly looking for providers who can handle everything from general IT support to advanced security measures, making diversification a crucial component of MSP business growth strategies.
For MSPs, expanding into cybersecurity without the necessary expertise can be risky. Luckily, the necessary expertise is actually very accessible—an MSSP partnership offers just that.
By enlisting the help of an MSSP, you can provide comprehensive cybersecurity solutions without the need to develop in-house capabilities. It’s great news for your budget and even better news for your market appeal.
Challenge #2: Cost Constraints
As we’ve just alluded to, offering new services, particularly in cybersecurity, can be costly. Developing and maintaining a full-time dedicated cybersecurity team requires significant investment in both personnel and technology. For many smaller MSPs, these costs can be prohibitive, especially when trying to remain competitive on pricing for your clients.
An MSSP collaboration for MSPs can alleviate these financial pressures. Through white-labeling cybersecurity services from an MSSP, you can provide clients with advanced security solutions at a fraction of the cost of building your own infrastructure.
Comprehensive managed cybersecurity services will run you anywhere from $3,000 to $10,000 per month. That includes monitoring, incident response, compliance management, infrastructure—everything you need for an all-encompassing cybersecurity suite. In comparison, building an in-house department would involve purchasing a:
- SIEM system – < $100k
- Threat Intelligent Platform – <$15k per year (+ up to $10k per data feed)
- Vulnerability Management Tool(s) – $5k per year
- Network Security Appliance(s) – $1k-$5k per device
Plus, of course, your actual cybersecurity staff. If you hire 2-3 people at an average wage, that’s another $360,000 a year, plus training and benefits. And even then, you may need more employees to cover multiple time zones, illnesses, or vacations.
You can find a breakdown of MSSP pricing here, but as you can see, when it comes to cost comparison, there’s really no competition.
White-label services from an MSSP not only make cybersecurity solutions for MSPs more affordable but also help your clients understand the value of these services. As businesses become more aware of cybersecurity threats, they’re more willing to invest in protections, provided the costs are justified and aligned with their budgetary constraints.
Challenge #3: Struggles Scaling Security Stacks
As word of your stellar services spreads, you might attract larger clients with more complex security needs. However, scaling a tech stack to accommodate these requirements can pose problems, particularly for smaller providers with limited resources.
Without the capability to deliver sophisticated security solutions, you risk losing potential business opportunities. Partnering with an MSSP enables you to increase your security offerings seamlessly. MSSPs bring a wealth of advanced tools, not to mention experience positioning cybersecurity solutions as a necessity, improving your ability to educate your clients about their importance.
In addition to helping with scaling MSP operations, this approach also demonstrates to prospective clients that even small providers can offer robust, enterprise-level security solutions. This is a crucial aspect of MSP business growth strategies, empowering you to compete with larger providers and secure lucrative contracts.
Challenge #4: Not Enough Hands for the Helpdesk
The cybersecurity skills gap is a well-documented issue, with many organizations struggling to find qualified personnel. For MSPs, this challenge is even more pronounced, as they require a depth of knowledge across various IT and security domains. Even taking out the expense factor, building a team with the requisite expertise can be a momentous challenge.
An MSSP collaboration for MSPs provides a practical solution to this problem. Through outsourcing cybersecurity to an MSSP, MSPs gain access to a team of specialized experts who can handle the complexities of cybersecurity management. This not only fills the skills gap but also ensures that clients receive the highest level of protection. With the technical aspects of security managed by the MSSP, MSPs can focus their internal resources on delivering exceptional IT support and building strong client relationships. And on that note…
Challenge #5: Concerns Around Client Management
Managing an expanding client base the way you’d like to will be harder the more clients you have. Time and resources are often stretched thin, and every moment spent dealing with cybersecurity issues is time taken away from building those all-important connections. This can negatively impact client satisfaction and the overall quality of service—the very thing that drew them to you in the first place.
Leveraging MSSP partnership benefits allows MSPs to refocus on what they do best. Outsourcing cybersecurity allows MSPs to devote more time to client management, fostering stronger relationships and delivering personalized services that exceed client expectations. It’s somewhat ironic—by sharing the reigns, you actually regain control, enabling you to uphold your commitment to providing high-quality, tailored IT support.
How a White-Label Cybersecurity Service Can Help
White-label cybersecurity services offer a range of benefits that can help MSPs overcome these challenges. Through partnering with an MSSP, you can offer clients advanced cybersecurity solutions branded under your own name, allowing you to maintain your identity and your budget.
The MSSP partnership benefits include access to cutting-edge technologies, expert threat detection and response, and ongoing monitoring. This enables MSPs to provide a broad spectrum of cybersecurity services, from basic protection to sophisticated threat management, all while controlling costs and minimizing the need for additional staffing.
Moreover, white-label services can be seamlessly integrated into your existing offerings, enhancing your portfolio without disrupting operations. This flexibility is crucial for scaling MSP operations, as it allows you to adjust services based on client needs and market demands. It also provides a valuable opportunity to enter new markets and attract larger clients who require comprehensive cybersecurity solutions.
To summarize, MSSP collaboration for MSPs unlocks:
- comprehensive cybersecurity solutions,
- access to advanced technologies,
- cost and staffing efficiency,
- seamless integration,
- market expansion and client acquisition.
In short, it’s a straightforward way to scalable, sustainable success for even the smallest of MSPs.
Final Thoughts
The true value of an MSSP collaboration for MSPs lies in the ability to adapt. As cyber threats evolve and client expectations rise, MSPs must be agile and responsive or risk losing business. By harnessing the benefits of an MSSP partnership, you can navigate these challenges with confidence, ensuring you deliver the best possible service to your clients while also protecting your own interests. This strategic approach will enable MSPs to grow sustainably, remain competitive, and continue to offer valuable cybersecurity solutions at an affordable price.
CP Cyber: Trusted White-Label Cybersecurity Solutions for MSPs
Here at CP Cyber, we’re trusted cybersecurity experts with a strong track record of delivering compliance-aligned security solutions to Denver businesses of all sizes—including MSPs.
Calling on over 40 years of experience, we provide cybersecurity consultancy, implementation, and management that exceeds expectations and surpasses industry standards. Don’t just take it from us—see what our customers have to say.
Ready to take the next step in improving your MSP’s cybersecurity posture? Book a time to talk to us about what our accessible, enterprise-class managed cybersecurity services could do for you.