What is the Business Case for MSSP?

The National Institute of Standards and Technology (NIST) advises that similar to financial and reputational risk, poorly managed cybersecurity risk may negatively affect performance and place an organization at risk by reducing its ability to innovate. Decision makers and executives are repeatedly experiencing losses due to their inability to be fully knowledgeable about properly managing cybersecurity risk and complying with guidelines of the established frameworks (such as following some of the key elements of the NIST Cyber Security Framework).

The managed security approach transfers the expense and management of ‘in-house’ security to a third party having existing expertise and capabilities. But, the struggle arises in how to decide if an ‘in-house,’ on premise, security management program is effective enough? What is the cost-benefit analysis when deciding to budget expenses for in-house verses out-sourcing? Organizations (big and small) desperately need a quick reference guide for deciding how to manage and implement their security program.

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