Other challenges include frequent outages and downtime, a lack of transparency into their practices and your IT infrastructure, and the inability to meet evolving customer needs. Assessing current and potential MSPs without software can be a difficult, resources intensive process that leaves you vulnerable.
Managed Service Providers
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The Challenges
Small and medium-sized businesses are typically the primary customers of MSP’s because they offer numerous benefits for the businesses such as subject matter expertise, financial savings, and risk mitigation. However, they come with their fair share of challenges as well.
CSO’s often struggle with MSP’s that don’t feature cybersecurity, a shockingly common issue for technical companies, creating vulnerabilities to cybercriminals that target MSP clients. The primary challenge is vetting service providers and ensuring they can be trusted with your company’s data and means of operation.
The Impact
Outage-associated costs and risks leave a significant impact on your business. According to Gartner, the average cost of IT downtime is $5,600 per minute. Regardless of the size of your organization, this means the cost of an unreliable MSP can quickly be devastating.
Wasted resources spent reaching out to MSPs and waiting for resolution about outages, server crashes, or data loss can also be disastrous. Limited visibility of MSP operations, security practices, financial standing, and other data can result in an incomplete vision of how your organization runs, a faulty business continuity plan, inaccurate views of risk, and more.
MSP assessments are typically overlooked in organizations with limited resources or an unorganized risk management process, which ultimately leaves them exposed and vulnerable to risks that will carry price tags much higher than initial risk management efforts.
Achieve your Managed Service Provider Goals with RiskWatch
Data Collection Portal
The RiskWatch platform contains a data collection portal, which grants the ability to effortlessly collect data in assessments by eliminating the need to create login profiles for each participant. Need to collect information from a vendor or supplier? Just send them a link to your data collection portal to collect what you need – no training required!
- Create custom landing pages for your data collection portals, using custom colors or instructions.
- Eliminate training time by sending out a limited-view collection page.
- Assessments to a portal can be created just once and used repeatedly, eliminating unnecessary work.
Automated Analysis
RiskWatch software streamlines the assessment process, using our intelligent analysis methodology to collect all relevant security data and highlighting any security gaps. Automated analysis aims to improve security positioning without the need to manually compare site data and risk scoring prioritizes projects, allowing you to manage security without getting stuck in the weeds.
- Automatically rank sites by risk to prioritize mitigation.
- Understand security at a glance with real-time dashboard analytics.
- 80% time savings when assessments were conducted using previous assessments performed in SecureWatch and compared to a manual assessment process.
Central Repository
The RiskWatch platform serves as a central repository, allowing organizations to easily access, share, analyze, or update all risk, security, and compliance-related information. This makes sure all data is organized, accurate, and easy to secure. Since data is entered into the platform and then automatically analyzed and reported on, data quality significantly increases.
- Streamlines processes and eliminates redundancies with transferring data.
- Centralizes the storage and maintenance of data.
- Generate a higher ROI by eliminating costs of poor data quality, erroneous information, and uninformed decision making.
Product Overview
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Reduce exposure to liability. Manage risk. Monitor and maintain security.
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