Enterprises and SMBs need holistic and composable security

OpenText has released the findings of its annual OpenText Cybersecurity Global Managed Security Survey.

  • Tuesday, 18th June 2024 Posted 4 weeks ago in by Phil Alsop

The 2024 survey of over 1,500 Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) found that the majority (92.5%) see increasing AI-led security and threat intelligence services as the major drivers of business growth over the next 12 months. Even with the AI buzz, comprehensive security and composable on-demand security expertise remain the primary reasons enterprise and SMB customers seek MSP/MSSP services.

"Amid the growing excitement and interest in AI technologies, it's crucial not to overlook the foundational need for composable security which provides the ability to adapt to changing security needs," says Prentiss Donohue, Executive Vice President, OpenText Cybersecurity. "MSPs and MSSPs play a critical role in safeguarding their customers' sensitive data. As cyber threats escalate, our partners are prioritizing security and integrating AI-powered threat intelligence services into their offerings. This ensures our end customers can reap the benefits of AI technology without compromising security."

Key survey findings include:

Priorities have shifted towards embedded AI and holistic security with single vendors

In 2024, 92.5% reported AI investment and offering AI security services (i.e., tools) to track threats and vulnerabilities as the major drivers of business growth over the next 12 months

Over 80% offer these AI-related security services

Of those respondents who are not currently offering AI-related security services, 62% plan to offer these services in the next 12 months

In 2023, contract flexibility was cited as the top quality by customers; in 2024 expertise in security and AI respectively are now the most important MSP/MSSP qualities requested

Demand for comprehensive security increased more than 10% in 2024More than a quarter (27%) of customers prefer having one vendor for security solutions; a 10% increase from 2023

A top challenge facing enterprises and SMB customers—and a big business opportunity for MSPs/MSSPs—is the incorporation of AI into security to improve the effectiveness and efficiency of security teams and tools

More than three-quarters (83%) of MSPs/MSSPs have seen an increase in business driven by interest in AI security tools and expertise

34% said the incorporation of AI into security is now the biggest challenge they are helping customers solve

The top ranked benefit of incorporating generative or other AI into customers' security programs is to augment the skills of security talent and security platforms, rather than replace people

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