Dissecting The Pax8 + ESG
Security Services Trends for MSP
The Total Economic Impact of Pax8 Technology and Operations for MSPs
Sure. We all joke about phishing scams — until it actually happens. Cyberattacks are now more frequent and severe. So Pax8 and ESG surveyed 550+ industry partners about combating cyber threats and identifying security opportunities.
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Cybersecurity Threat Level: Mission Critical
Clients rely on us to keep their business secure. Because of the high frequency and seriousness of cyberattacks in the industry, we are reclassifying security services to: Mission Critical.
Our Partners Agree
These partner benefits are over the course of three years and are based on interviews with current partners.
We want more automation in the data correlation process
82%
We expect to bring new vendors into our portfolios
77%
Security practice evolution is a top priority
87%
So... Why the Hesitation?
Look. Security services are not exactly an easy sell.
Only 46% said “Security services are easier to sell than other offerings.”
Only 40% said “Security services are more profitable than other areas of business.”
But There are Pros, Too
The benefits of selling security services:
- More Sophisticated Offerings
- Increased Growth Potential
- Better Initial Conversations with Prospects
- Higher Advantage in a Fast-Growing Area
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- Differentiate yourself from competitors
- Generate more up-sell opportunities
- Get your foot in the door more easily
- Higher Advantage in a Fast-Growing Area
Big or Small, It's Important
ESG and Pax8 surveyed 550+ businesses of all sizes. Ransomware and other cyberattacks affect everyone.
We don’t talk about the severity of cyberattacks enough.
No one wants to admit when they’ve had a breach. But it needs to be addressed because it affects our clients.
1/20
One in 20 clients have had a breach of sensitive information
The bigger company, the larger the target.
Large and medium-sized companies are the most at risk, but small companies aren’t off the hook either.
85%
of large partners
81%
of medium-sized partners
59%
of small partners
Big or small, we’ll guide you through it all.
The Pax8 + ESG eBook shows cybersecurity is important for MSPs of all sizes.
No matter how big your company is, or where you are in your business journey, our experts can help you double-down on cybersecurity to better protect your clients.
Where We Are
What MSPs Currently Offer
- 94% offer endpoint security
- 86% offer network
- 78% offer BCDR tools
Today’s Most Critical Adjacent Services
- IT outsourcing
- SaaS
- BCDR
Where We're Going
The Shift into Tomorrow’s Landscape
MSPs are adding more vendors to their current offerings to develop a more sophisticated set of solutions.
Areas of Potential Growth
- Compliance monitoring
- Risk analysis
- Security intelligence and operations
- Threat-hunting
Today
Email security leads in importance
- Roughly 70% of surveyed partners say email security is a top-5 cybersecurity priority
Tomorrow
Top email security priorities moving forward
- Phishing controls
- End-user training
- Randomware/extortion protection
- Malware protection
The ABCs of Combating Cyberattacks
Evolving your security practices begins with the automation of your security stack.
Automating the Security Stack
Everyone agrees. Automating the security stack has more added value than shopping for a security solution that costs less. Still automation is largely untapped.
82% of partners want MORE automation.
37% of partners have only somewhat automated their security stack.
The Proof is in Boosts
Nearly 3/4 of partners with cybersecurity automation reported a positive boost. So, we looked at the impact between minimal automation and extensive automation.
There was a 108% boost in partners that reported a significant positive impact in efficiencies and efficacies.
Prioritizing Cybersecurity
Security services are quickly becoming a larger portion of revenue.
Partners expect security services will drive 22% more of their business over the next two years.
The Pax8 + ESG Security Services Trends for MSPs eBook paints a picture of the new security landscape outlined in the research findings.
Our experts will help you go from there.
Our experts are here to help you reduce your clients’ security risk.
Thank you. A Pax8 cloud expert will be in touch soon.
SOURCING: All statistics and quotations: A commissioned Total Economic Impact™ study conducted by Forrester Consulting on behalf of Pax8, December 2021