In a recent Light Reading webinar, Principal Heavy Reading Analyst Jim Hodges and I discussed the growing need for Managed Security Services. DDoS attacks are becoming increasingly sophisticated and complex, lasting more than 24 hours in some cases. The attacks aren’t limited to specific industries or company sizes anymore, and push stretched internal IT resources to the breaking point. The 0s and 1s that flash through service provider networks are equally vulnerable. Attackers don’t care where the data is coming from…they’re looking for vulnerabilities they can exploit for money. The days of hacks focused on large retail organizations like Target and Home Depot are behind us. Merck and Co., a large U.S.-based pharmaceutical firm, was one of several global companies impacted by a massive global attack. Don’t let these hacks bring your customers’ network down.
The 2016 State of SMB Security Report found that half of the 28 million small businesses surveyed were breached in the past year. Verizon corroborated this growing trend in their latest annual data breach investigation. According to their study, 61% of data breach victims were businesses with less than 1,000 employees. And the best part – those businesses are looking for your help! Radware’s 2017 executive survey revealed that one-third of businesses want protection from their service provider. That number was slightly higher in Europe, where 39% of executives polled wanted their service provider’s assistance.
How do you use these attacks to add 1s and 0s to your bottom line?
Just like each DDoS attack is slightly different – the solutions offered to your customers should also vary. One way to look at it is on-demand service vs. an always-on service. The on-demand model monitors specific data streams during specified times. This would appeal to smaller organizations that don’t feel the need for continuous protection. The always-on option would be attractive to larger enterprises that house sensitive data, like financial or medical records. In order to determine the best model, probe your customer to determine their true needs. Is their data critical or proprietary? Does your customer need something that runs in the background all the time? Will their budget cover 24/7 support?
To learn more about the return on investment for each scenario, read Heavy Reading’s analyst paper “Cyber Economics: Validating DDoS Managed Service Delivery Models.”
Listen to the discussion where we found that a surprising 60% of attendees polled are currently developing their strategy now. This is the time to act. Your competition is working on it already. Level 3 Communications, as part of their Q1 2017 earnings, released that their managed security revenue grew 9.1% while their overall corporate revenue was basically flat. Add those 1s and 0s to your bottom line by incorporating managed security services to your corporate offerings.
Watch “The Compelling Economics of DDoS Managed Security Services” to learn more.
Read “Cyber Economics: Validating DDoS Managed Service Delivery Models” to learn more.
Mike O’Malley brings 20 years of experience in strategy, product and business development, marketing, M&A and executive management to Radware. Currently, Mr. O’Malley is the Vice President of Carrier Strategy and Business Development for Radware. In this role, he is responsible for leading strategic initiatives for wireless, wireline and cloud service providers. Mr. O’Malley has extensive experience developing innovative products and strategies in technology businesses including security, cloud and wireless. Prior to Radware, Mr. O’Malley held various executive management positions leading growing business units at Tellabs, VASCO and Ericsson. Mr. O’Malley holds a Master of Business Administration degree, a Master of Science in electrical engineering, and a Bachelor of Science in electrical engineering from the University of Illinois. He also is a graduate of the Executive Strategy Programs at the University of Chicago.