2023 Cloud Security Report Spells Opportunity For Your MSSP

Most companies are putting their money where their mouth is, with 60 percent planning to increase their cloud security budgets.

  • June 1, 2023 | Author: Khali Henderson
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These two numbers spell sales opportunities for your MSSP:

  • 58 percent - According to new research from Cybersecurity Insiders, workload shifts to the cloud are reaching a tipping point. Within the next 12-18 months, more than half (58 percent) of companies will run more than half their workloads in the cloud (up from 39 percent today). 
  • 95 percent - Even as cloud computing becomes the de facto norm, security remains a nearly universal concern among the companies making the migration. Ninety-five percent of surveyed organizations are worried about public cloud security. The biggest areas of concern are: Misconfiguration; Exfiltration of sensitive data; Insecure interfaces/APIs; and Unauthorized access
The big takeaway for your MSSP is that, as most companies move most of their workloads to the cloud, they’re looking for security solutions. 
 
Businesses Migrating to Cloud Are Willing to Pay for Security
Most companies are putting their money where their mouth is, with 60 percent planning to increase their cloud security budgets on average by 33 percent, says data from Cybersecurity Insiders.
 
If you’re keeping score, that’s three points in your MSSP’s favor:
1. Your prospects and customers are migrating to business models that raise security concerns.
2. They acknowledge those security concerns.
3. They’re willing to spend to address them.
 
This trifecta would be fortuitous in any environment, but it’s particularly compelling when companies face economic headwinds. Even as companies cut back elsewhere, they’re pursuing business models and budgets that drive increased spending on services your MSSP can provide.
 
Businesses Want a Single-Provider Cloud Security Solution
We talk a lot about single-provider solutions at SecureNetworkHub. They’re:
  • Easier to sell to your customers
  • Optimal (if not essential) for scaling your MSSP
  • More effective
We can now add to that list that enterprise security and IT experts also want a single-provider solution. Ninety percent consider the use of a single cloud security platform to be moderately, very or extremely helpful (with most falling in the “very” or “extremely” helpful categories), according to the Cybersecurity Insiders report. 
 
In other words, it’s not only easier to sell a single-provider solution, but customers are now asking for it. Go get them.

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