Finding the Right MDR Partner and Getting C-Suite Buy-In
Cyberattacks are not nearly as niche as many organizations like to think, and at the current rate of growth, it's not a matter of "if" you'll be targeted; it's a matter of "when." ProArch Chief of Innovation, Michael Montagliano, has put together some recommendations to help businesses find the Managed Detection and Response vendor that’s right for them, along with suggestions for getting C-Suite approval.
Watch the video below:
Finding an MDR Partner
How do I find the right MDR vendor that fits my budget?
Assess containment. Containment is an important trait of MDR services for organizations with no internal 24/7 operations to respond to immediate threats. Learning how vendors approach containment can help you choose a partner that fits your strategy.
Check the stack. Ensure the MDR providers' technology stack fits well with your existing security controls and IT environment, from on-premises to cloud strategy.
Stick to what you know. Use providers that have experience with use cases appropriate to your organization’s size, location, and industry.
Identify industry challenges. Use any unique challenges in your industry to differentiate potential providers.
The Investment of MDR
How do I get buy-in from the C-Suite?
Identify critical assets. The first step in justifying the investment of MDR is to get a deeper understanding of which critical business information needs to be protected.
Do your research. Gather information about which "threat communities" pose the most risk to your industry/organization.
Get specific. Losses can be categorized as the theft of intellectual property, fines from compliance violations, ransomware payments, lost revenues, reputational loss, etc. These categories can be used to estimate "loss magnitude." The estimated loss frequency (or how often your organization is put at risk of loss) needs to be quantified.
Crunch the numbers. Use the metrics you identified in the previous step to calculate the Return on Security Investment (ROSI). Use the ROSI model from Michael's presentation to get an exact percentage to show the decision-makers.
All it takes is one. If even just one breach is successful, recovery can cost your organization tens or even hundreds of thousands of dollars, not to mention unplanned downtime and reputation damage. Investing in MDR capabilities, whether in-house or outsourced, is a sure way to minimize the impact and cost of a security breach.
The good news is you now have the know-how to make MDR happen for your organization.
Watch the original webinar in its entirety and download the presentation used by Michael here.