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MDR Creates New Revenue Opportunities for Managed Services Providers

By Michael Rosen on Jul 16, 2020 | 0 Comments
  • Managed Detection and Response is one of the fastest growing areas of cybersecurity with a 30.4% CAGR
  • Huge revenue opportunity with MDR for MSPs to help customers that lack security extended teams
  • Opportunities involving MDR tend to be larger, stickier, and foster deeper customer relationships than tools
  • MDR solves key customer gaps in alert response management, technical skills, and overall security outcomes

MSPs, are you thinking about jumping into managed security services?

Are you a Managed Services Provider (MSP) looking to add cybersecurity to your service portfolio? Would you like to deepen your customer relationships to include managing their endpoints and keeping them safe from adverse business impact, earning their long-term loyalty in a deep and while generating recurring revenue for value-added services in a fast-growing category?

Watch our MDR for MSP Webinar

 

Managed Detection and Response (MDR) represents one of the hottest sectors of cybersecurity, with an estimated 30.4% CAGR, growing significantly faster than the overall security market. Gartner estimates that, by 2024, 25% of organizations will be using MDR services, up from just 5% today, creating an addressable market of $4.6 billion by 2026. This explosive growth creates a tremendous opportunity for MSP vendors to help customers that lack extended teams of security experts to stay on top of sophisticated attacks and high-volume security workloads. If you don’t already have MDR on your vendor line card, now is the perfect time to add it.

 

Bitdefender’s Managed Detection and Response for Endpoints is now offered as a managed security service for MSPs. This service quickly detects, investigates and removes advanced adversaries that infiltrate your customer’s environments and protects them from today’s complex threats. MDR utilizes in-depth telemetry from Bitdefender’s GravityZone EDR toolset combined with advanced threat intelligence, plus other best-of-breed tools, to generate alerts for our Security Operations Center analysts, who execute threat hunting missions to detect sophisticated adversaries and stop attacks in their tracks. Our SOC team investigates and responds to incidents using detailed, pre-approved actions agreed to by the customer and the MSP during onboarding, ensuring quick eviction of intruders and restoration of secure baselines before attacks can cause damage to your customer’s business.

 

What key customer gaps does MDR address?

The benefits of Managed Detection and Response for MSP-managed businesses are many, starting with the ability to close key customer gaps:

  • Alerts Gap – too many low-quality alerts, lack of time or staff to respond, inability to prioritize threats
  • Skills Gap – rapid staff turnover, training ramp-up delays, and lack of specialized security skills
  • Outcomes Gap – can’t provide timely security information to leadership or demonstrate compliance

Outsourcing routine security tasks to a team of experts with 7x24x365 “eyes on glass” and the right experience to quickly make connections between alert indicators and complex incidents allows your customers to focus squarely on their own high-priority business objectives while delivering superior overall security outcomes.

Bitdefender MDR for MSP Service

 

When offering MDR to your customers, you can depend on Bitdefender’s security operations team to investigate and respond to any incidents generated by security tooling or found during analyst-initiated threat-hunting operations through a set of pre-approved actions. These actions are detailed and approved by each customer team during onboarding so the Bitdefender experts can execute them quickly to interdict adversaries and stop attacks before they cause damage to your customer’s business. Dedicated SOC teams handle and triage alerts and act immediately to stop attacks. Customers receive real-time information on the state of security operations, summary reports showing roll-up data with historical trends, and after-action reports that detail each security incident and the actions taken to remediate the threat and restore the known-good environment.

As an option, the MSP can fully manage their end customer environments, with the Bitdefender MDR team providing curated recommendations for the MSP to take during customer incidents.

 

What are the advantages of adding MDR to your managed services portfolio?

Managed Detection and Response offers unique advantages to MSPs over standard security products, including:

  • MSPs can offer enhanced security outcomes to their customers, freeing them to focus on their business
  • MSPs can serve customers under complex compliance regulations and within highly targeted industries
  • Provide customers real peace of mind, as they are protected and informed of threats in real time
  • Both MSPs and customers can streamline their security efforts
  • Gain easier access to larger accounts looking for 24/7 monitoring and real-time attack response
  • Capture larger deal sizes with typically longer recurring-revenue commitments from customers
  • Services are more sticky than mere security products, so customers are less likely to switch vendors
  • Tap into managed services initiatives and related budgets to develop accounts more deeply over time
  • Get a second chance with lost or abandoned EDR deals
  • Upsell customers at renewal time to the apex of the Bitdefender portfolio with a simple service add-on
  • Displace existing MDR incumbent vendors for dissatisfied customers who demand higher-quality service
  • Gain customer footholds now into future MDR spending in new security areas as the portfolio expands
  • Sell your own value-added services on top of the Bitdefender MDR offering!

Want to get started? Attend our Webinar!

Learn how Bitdefender MDR leverages our industry leading, award-winning security product portfolio into a set of managed services that MSPs can quickly extend to their customers—confidently backed by Bitdefender’s round-the-clock SOC team of expert security analysts and responders—providing small- and mid-market firms with advanced security defenses that were once within reach of only Fortune 500 companies.

Watch our MDR for MSP Webinar

 

Learn more about Bitdefender Managed Detection and Response for Managed Services Providers or download the MDR for MSP datasheet

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Author: Michael Rosen

Michael is Director of Technical Product Marketing for Bitdefender’s Data Center and Network Security Products. He has an MBA in Information Systems, a JD in Law, and 20 years of experience bringing innovative enterprise security software systems to market. Michael enjoys diving deep into products and making technical content accessible to general audiences.