Blog  Planning for 2024: Leveraging a Managed Security Platform for Business Growth

As we enter 2024, businesses are increasingly pivoting towards a digital-first approach. While offering numerous opportunities for growth and expansion, this shift also brings the challenge of ensuring robust cybersecurity.  

A managed security platform offers a robust solution, providing advanced defenses against sophisticated cyber threats, ensuring regulatory compliance, and driving cost efficiency. By outsourcing security to specialists, resources are freed up for innovation and core business growth. This makes cybersecurity a driver of success rather than an obstacle. 

With the surge in cyber threats and data breaches in today’s modern business landscape, the cost of ignoring cybersecurity measures can devastate businesses financially and reputationally. Hence, incorporating a managed security platform into your business strategy can safeguard your operations and foster customer trust and business continuity. 

The following sections will explore the key benefits of a managed security platform and how businesses can work effectively with in-house auditors to ensure stringent cybersecurity measures. We’ll also explore strategies to maximize the value obtained from Managed Security Service Providers (MSSPs). 

The Benefits of a Managed Security Platform

As digital transformation continues to reshape the business landscape, businesses recognize the advantages of using a managed security platform. Here are some key benefits: 

24/7 Monitoring: Managed security platforms provide round-the-clock surveillance of your IT infrastructure. According to the 2023 Data Breach Investigations Report, 60% of breaches were discovered within days, emphasizing the critical role of continuous monitoring. 

Threat Detection and Response: These platforms use advanced tools to monitor networks and promptly respond to detected threats. According to IBM’s Cost of a Data Breach Report 2023, the global average data breach cost is USD 4.45 million, emphasizing the financial benefits of quickly identifying and responding to breaches. 

Regulatory Compliance: Managed security platforms help ensure compliance with evolving regulations. They can conduct regular audits, vulnerability assessments, and penetration testing to ensure compliance with standards such as GDPR, PCI DSS, HIPAA, etc. 

Cost Savings: Research involving 7,500 public organizations highlighted an impressive cost reduction of approximately 46% when opting for outsourced support over in-house services. Additional studies have consistently shown savings in the ballpark of 20-30%, underscoring the economic advantages of this approach. 

Modern Resources: Managed security service providers specializing in cybersecurity and having access to the most current resources, including advanced technologies, infrastructure, processes, and incident response mechanisms. 

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Tips for Working Effectively with In-House Auditors

Collaboration between an organization’s internal audit team and the MSSP is critical for maintaining robust cybersecurity practices and compliance. This partnership is vital in ensuring internal control environments’ adequacy, efficiency, and effectiveness. 

TrustNet recognizes the value of this partnership and employs a team of in-house auditors along with our managed security services. These professionals provide expert guidance and thorough evaluations, contributing significantly to a business’s compliance and security efforts.

We cultivate this crucial partnership through a strategic and structured approach that includes: 

Regular Meetings: These meetings are a platform to discuss the latest updates, address challenges, and explore opportunities. They also ensure both parties are on the same page and can respond promptly to any changes or issues. 

Transparent Information Sharing: We encourage the free exchange of knowledge and information between our managed security providers and in-house auditors. Doing so ensures that all parties have access to the necessary data and insights, leading to better decision-making and more effective risk management. 

Clear Goal Setting: We collaborate with our in-house auditors to establish measurable goals aligning with our client’s business objectives. This ensures that all efforts are directed towards achieving these common goals, promoting unity and effectiveness in our security management efforts. 

Maximizing the Value of a Managed Security Platform

Managed security platforms are potent tools that significantly enhance a business’s cybersecurity posture. TrustNet’s Managed Security Platform is designed to offer comprehensive security monitoring and intrusion detection for both cloud and on-premise environments. Here’s how businesses can maximize the value of their investment in such platforms: 

Proactive Threat Hunting 

TrustNet’s platform uses a Kill Chain Taxonomy approach to simplify threat management and prioritization. By breaking attacks into five threat categories, from highest to lowest, it provides detailed contextual threat information, showing attack intent and threat severity. This enables businesses to focus on the most critical threats. 

Incident Response Planning 

Our platform consolidates numerous threat detection capabilities, such as network IDS and host IDS. Coupled with granular asset information, continuous vulnerability assessment, and behavioral monitoring, it provides a comprehensive view of the security landscape. 

Continuous Improvement 

Our platform enables businesses to avoid cyber threats by offering continuous security monitoring. This approach ensures a comprehensive view of your IT environment and security posture at all times, thereby facilitating the identification and prioritization of vulnerabilities. 

Our platform and services are also designed to facilitate compliance with standard regulatory compliance requirements, including SOC, PCI DSS, ISO 27001, HIPAA, and HITRUST. 

Secure Your Future with TrustNet’s Managed Security Platform

As we enter a future where cyber threats are increasingly sophisticated, businesses must stay ahead of the curve. TrustNet’s Managed Security Platform offers an all-encompassing solution, delivering 24/7 managed security from world-class operations centers. Our platform ensures quality and compliance and provides built-in technical redundancies on a security-hardened platform. 

Most importantly, our services are affordable and efficient, saving you time and resources compared to a do-it-yourself approach. With all hardware, software, and services included for a fixed monthly fee, TrustNet makes robust cybersecurity and compliance accessible for any business.