What is a Managed Security Services Provider and how does it help small businesses?

A 2023 survey by the International Trade Administration found at least one in four of 100 surveyed Philippine companies faces cyber risks from attacks like malware, phishing, and password-related breaches. The increased reliance on cloud platforms has expanded vulnerabilities, especially with more digital transactions and personal devices linking to corporate networks.

While cyberattacks on large enterprises and public sector organizations often make headlines, small and medium-sized businesses (SMBs) are particularly at risk. In 2023 alone, cyberattacks have had a significant economic impact in the Philippines, with costs to local businesses estimated at around ₱6 billion per day. This reflects the substantial financial burden cyber threats place on SMBs, particularly as the first half of 2023 saw a 325% spike in attacks targeting smaller firms.

Why are SMBs so vulnerable to cyber attacks?

Cybercriminals do not discriminate, from not-for-profits to large corporations, no organization is immune without the proper defenses. However, small to mid-sized businesses are even more vulnerable because of these reasons:

1. Limited budget and resources. Unlike larger companies, SMBs often lack the financial resources to invest in sophisticated cybersecurity infrastructure, staff, and technology. Without these, it's challenging to establish strong, multi-layered defenses or maintain a dedicated cybersecurity team to respond to threats around the clock​.

2. Reliance on basic security measures. SMBs often rely on basic antivirus software and firewalls rather than advanced tools like SIEM (Security Information and Event Management) or EDR (Endpoint Detection and Response) systems. These basic protections may not defend against sophisticated threats, such as ransomware and advanced phishing schemes.

3. Outdated technology. SMBs may use older systems or legacy software that lacks the latest security patches, exposing them to vulnerabilities. Attackers often target these outdated systems, especially if businesses do not conduct regular updates or security audits.

How a Managed Security Services Provider (MSSP) can help.

For SMBs looking to protect their digital assets effectively, partnering with a Managed Security Services Provider (MSSP) is an impactful solution. MSSPs such as Invictus Technolog Solutions bring specialized expertise, advanced tools, and resources that are often out of reach for SMBs to manage independently.

Because MSSPs are security specialists and are particularly experts at detecting and remediating threats on the customer's digital infrastructure, they can efficiently boost security for SMBs that cannot afford the infrastructure and expertise required to run all aspects of modern cybersecurity.

With a deep understanding of modern cybersecurity challenges, MSSPs efficiently strengthen an SMB’s defenses, offering advanced tools and techniques that would otherwise be challenging for a smaller organization to manage. MSSPs handle time-intensive and complex security tasks, ensuring SMBs have the latest protections and stay secure against evolving threats. Through this partnership, small businesses can achieve greater operational efficiency and a much stronger security posture without the need for significant internal investments.

Need a Managed Security Services Provider?

If you need assistance in reducing cybersecurity costs, improving cybersecurity processes, understanding cybersecurity technologies, complying with regulations, or simply want to talk to an experienced managed security service provider, please get in touch with Invictus Technology Solutions.

Our cybersecurity professionals have extensive experience managing the security of small to mid-sized organizations, and we always bring expertise and skills to our work. In many cases, we can help you find the information security solutions you are looking for.