The ever-changing digital landscape is bringing innovative technologies to the fore. Businesses taking advantage of cloud computing, the Internet of Things (IoT), and automation are relying more heavily on data and more complex technology, which opens them up to increased cybersecurity vulnerabilities.
In 2021, more than fifty common vulnerabilities were identified every day. As soon as a vulnerability is identified and publicized, it becomes a race against time to safeguard your clients' networks from cybercriminals. Malicious actors now use sophisticated tools to automatically scan thousands of business networks in search of the one weak spot that will give them access.
Strong vulnerability management programs are critical in these environments, as well as for digital transformation in general. Today, your managed service provider (MSP) is increasingly expected by clients to provide some cybersecurity assistance when a crisis occurs.
Why vulnerability management solutions are necessary?
According to Forbes, 20% of organizations do not test for security vulnerabilities at all, and just 56% test throughout the application lifecycle. Ransomware wreaked havoc on organizations in 2021, resulting in an average $1.85 million recovery cost.
There are many known vulnerabilities out there, creating a lot of opportunities for cybercriminals. As cybercrime rises and businesses introduce more susceptible endpoints, it is vital to prioritize vulnerabilities as part of the increased attack surface of a business.
Regardless of how critical it is to pay attention to vulnerabilities in business networks, many organizations don’t pay enough attention to this. While it isn’t possible to control cyber threats, businesses can control their vulnerabilities.
Historically, vulnerability management tools have been expensive and hard to use, but a good risk management plan will save your clients money, reputation, and time on disaster recovery.
Vulnerability management is crucial because data breaches and ransomware attacks are usually the results of known vulnerabilities that have not been addressed. Recently, cyber insurance policies, business contracts, and new regulations are all including strict vulnerability management requirements.
Enterprises are increasingly adopting cloud and distributed technologies, and as breaches become more common, MSPs will undoubtedly receive more queries regarding preventive measures. You had better be prepared to handle the demand.
What is vulnerability management in cybersecurity?
A vulnerability is a flaw in a system or network that cybercriminals can exploit to cause havoc, resulting in anything from malware installation, data stealth, malicious code damage, and more.
The continuous and regular process of identifying, assessing, documenting, managing, and remediating security vulnerabilities across endpoints, workloads, and systems in a network is referred to as vulnerability management. In other words, vulnerability management is a proactive approach to securing a network before security gaps are exploited.
Vulnerability management solutions add value to your MSP
In recent years, cybercrime has grown in scale and sophistication, increasing the need for MSPs to protect their clients by performing ongoing vulnerability scanning with properly planned mitigation. Without a robust vulnerability management program to detect, assess, and report security vulnerabilities of systems and software, the vulnerabilities can’t be discovered and mitigated.
The three key areas to consider when offering a vulnerability management solution to clients are:
Often MSPs won’t conduct vulnerability scans because they may be considered too complicated and time-consuming. It is recommended organizations spend up to 6% of their revenue on IT, however, most struggle with implementing the necessary improvements. This is where streamlining and simplification come in, as it allows ease of implementation.
Vulnerability management must be simple for businesses to understand and implement, for it to be effective and encourage use. If teams don't use the solution, attacks may exploit vulnerabilities before they’re noticed. Vulnerability scanners that are continuous and automatic means teams have less to do to set up and then use the system. This also leads to more rapid returns on investment.
Vulnerability management solutions should be agile, both in set up and how quickly the tool will discover and send alerts on any vulnerabilities discovered. The Mandiant Security Effectiveness Report 2020 found that 53% of successful cyber attacks infiltrate organizations without being detected. So it is critical a vulnerability management solution can scan continuously and monitor networks for new assets and vulnerabilities, giving security teams an advantage to rapidly respond to alerts, which if automated, will speed up the process of discovery and resolution.
Vulnerability resolution usually requires the cooperation of multiple teams across the business and the MSP managing threat detection. It is important for vulnerability management solutions to be equipped with efficient communication tools and strategies, so alerts can be assigned to teams with guidance to follow up for remediation efforts.
Invest in a superior system
With the right solution by your side, your MSP can offer vulnerability management to serve every client’s specific needs, ensuring weaknesses are discovered and resolved faster and more effectively, bolstering their cybersecurity.
The ThreatAdvice Breach Prevention Platform is a comprehensive cybersecurity solution that provides ongoing risk assessment and vulnerability management that allows MSPs to manage their client’s cybersecurity effectively and efficiently. Contact ThreatAdvice today and find out how your MSP can elevate the vulnerability management process for your clients.