Three Reasons Why More Small Businesses Are Using MDR (Managed Detection and Response) Services

Attacks often occur due to missed or ignored alerts, not because the product failed to raise one.

As a managed service provider (MSP), our customers trust us to protect their networks and safeguard sensitive data. They have a business to run, so they rely on us to have their back. Cyberattacks can have devastating consequences for businesses, causing significant financial losses, lost business and customer trust. Factor in the operational disruption and downtime these attacks cause and it’s no wonder 60% of all small businesses close within 6 months of an attack.

Cybersecurity threats frequently transform and advance, making it virtually impossible to combat these bad actors alone, which is why we recommend using MDR services, which includes 24/7 monitoring of their networks, endpoints, and cloud environments. This remotely delivered modern security operations center (SOC) allows them to detect, respond, and recover from modern security incidents in real-time.

Here are 3 reasons why most of our customers are adding MDR services to their cybersecurity posture:

1. Cost Effectiveness

When we approach our customers about MDR Services and explain the benefits (24/7 monitoring on all of their business applications, the expertise, etc.), their first question is usually “how much is this going to cost?” More often than not, they are pleasantly surprised by the answer. Many MDR services, including Arctic Wolf, offer simple pricing models where the price depends on the number of users, servers, and internet egress points. When they compare their monthly cost for MDR services to the cost of a data breach, it’s usually an easy decision.

If you’re interested, below is a link to a pricing calculator that allows to to enter your company information and estimate how your organization may be affected by a cyber incident.

2. Peace of Mind

Having a MDR in place provides peace of mind to business owners, knowing that their systems and data are being monitored and protected around the clock. Some MDR services (like Arctic Wolf) offer a Security Operations Warranty, which provides up to $1,000,000 in financial assistance for cybersecurity incidents. Their warranty covers a wide range of incident expenses and is available to customers who utilize Arctic Wolf Managed Detection and Response plus additional Arctic Wolf solutions.

3. Compliance

Many of our customers are in heavily regulated industries like healthcare, financial, or manufacturing where meeting compliance regulations can determine whether or not they stay in business. These heavily regulated industries are often a bigger target for cybercriminals because of their highly valuable data, (e.g., patient data in healthcare, financial data in banking, identity data in government). The purpose of cybersecurity laws and regulations are to ensure that organizations take the right steps to protect sensitive data. And regardless of what industry you’re in, you need to comply with state privacy laws, GDPR, and other regulations that apply to all sectors. Using an MDR typically ensure that your organization remains compliant.

If you are interested in learning more about how MDR services could improve your organizations security posture, we’d love to chat.