Case studies for managed cyber security services
As the average cost of a data breach for public-sector organizations in Canada has reached $2.8 million, many municipalities are trying to manage their risk in the wake of fiscal pressures – which may drive significant tax increases for their residents. Cyber threats and risks are becoming increasingly apparent, and organizations are grappling with how to create a cyber security program not only quickly, but affordably.
For each of following the case studies, ‘buying’ a solution from a managed security services provider (MSSP) represented a more affordable option by a magnitude of roughly 4x. Moreover, the time-to-value provided by a cyber security solution sourced from an MSSP is drastically shorter than ‘building’ one in-house.
Case Study #1: End Point Detection & Response (EDR)
After experiencing a cyber breach, a small organization needed to bolster its cyber security capabilities. As they maintained a very small team of IT resource(s), the organization could either invest and ‘build’ its own cyber security program or ‘buy’ (i.e., source) one from an MSSP.
Case Study #2: Security Information and Event Management (SIEM)
A medium-sized Canadian organization had to minimize its risks for both information and operational technologies. The organization is subject to significantly high cyber security risks as it provides outward-facing critical infrastructure services, and a very low tolerance for accepting risk. With limited resources, and cyber security capabilities, the organization had two (2) options – build or buy.
Benefits outweigh costs
The cost-benefit of purchasing services from an MSSP is clear – especially, the comfort of knowing your systems are secured and monitored by leading cyber security professionals around the clock.
For more information on managed cyber security offerings, please contact danb [at] abmunis.ca (Dan Blackburn), Senior Director, Growth & Innovation.