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Managed Detection and Response (MDR) services have many benefits for midmarket companies navigating cybersecurity threats.
Learn how MDR security services can help to address cybersecurity challenges.
The Growing Cybersecurity Challenge
Cybersecurity is the number one focus reported by organizations in their upcoming technology and digital internal audit plans for 2024, according to a report published by Deloitte.
Companies are feeling the pressure to make smart cybersecurity decisions, and the reason behind this is clear. Cyber threats, including ransomware and supply chain attacks, phishing and social engineering, and advanced persistent threats (APTs) are becoming more common.
For instance, there were 4,769 ransomware attacks in 2023 compared to 2,870 in 2022. This represents a 66% increase, according to CyberMaxx’s Q4 2023 Ransomware Research Report. These threats are also constantly evolving, which makes it difficult for companies to stay ahead.
The cyber threats faced by mid-market companies can be just as damaging as the threats faced by large companies. However, unlike large companies, many mid-market companies do not have the resources, personnel, or expertise to effectively deal with attacks.
Implementing effective cybersecurity measures is vital. It helps companies comply with regulations and standards and avoid fines and penalties, and safeguard sensitive data. It also protects intellectual property and ultimately preserves the company’s reputation.
Aligning MDR with Midmarket Business Needs
Given that many midmarket companies have limited resources and expertise, MDR security services can help them plug the gaps. They do this by offering continuous monitoring for suspicious activity and potential security breaches. This allows the company to analyze threats and respond to incidents within a timely manner.
There are many customization possibilities with MDR security services. This customization means they can cater to unique business needs and risk profiles. For instance, MDR can adapt seamlessly with existing infrastructure such as firewalls and threat intelligence feeds. Companies can choose to customize them further to monitor specific assets or applications.
MDR security services can also support industry-specific regulatory compliance requirements. This is particularly relevant for midmarket companies in heavily regulated sectors, such as those in healthcare, pharmaceuticals and financial services.
Advantages of MDR for Midmarket Companies
MDR security services are a cost-effective solution for companies with limited resources. They typically require no upfront investment, and many services offer flexible, subscription-based services. This flexibility and scalability allow companies to meet their cybersecurity requirements without having to overspend or invest in additional hardware.
Having a dedicated third-party team of experts monitoring and responding to threats has additional benefits. For instance, provides companies with access to advanced algorithms, analytics, and threat intelligence feeds. This makes it easier to quickly identify and deal with threats. It also reduces the need to hire and retain internal talent or spend a lot of money on in-house research and development.
Simplifying Cybersecurity Operations
MDR security services help companies to centralize their cybersecurity operations by consolidating vital information into a single platform. It provides analysts with access to alerts, events, and logs from across the entire organization. This allows them to identify and respond to potential threats immediately.
MDR services integrate seamlessly with existing IT infrastructure. Service providers typically offer APIs designed to facilitate the exchange of data between MDR systems and the business’s IT environment.
This means the services can accommodate a variety of architectures and environments.
Service providers also offer support and guidance throughout the process. This helps companies to overcome potential issues with the integration process, and iron out any additional technical difficulties throughout the process.
Getting this support from third-party services drastically reduces the need for extensive in-house cybersecurity teams. This saves money and means business leaders can focus their attention on other areas of the company.
Enhanced Threat Detection and Response
MDR security services offer continuous monitoring using advanced analytics and machine learning that can quickly analyze large volumes of data. As a result, they can more effectively detect subtle indicators of threats or deviations in user behavior. Many of these threats would typically go unnoticed by traditional threat detection services.
Given that these MDR services provide continuous monitoring, a team of skilled experts is on hand to rapidly respond to threats. This can significantly minimize the impact of security breaches if they do occur.
How MDR Security Services Can Help Your Midmarket Company
MDR services offer midmarket companies a robust, cost-effective solution to navigate the evolving cybersecurity landscape with expert support and advanced technologies.
Meet with CyberMaxx to see how we can help your midmarket company with MDR security services.