Magazine Article | October 2, 2017

The MSSP (R)Evolution

Source: Channel Executive Magazine

By Lynn Souza, owner, CEO, and president, Connect Computer

These days, every third email I receive is about the MSSP space, and every other article I read is about cybersecurity. So why have seemingly so few companies made the transition from MSP to MSSP?

The statistics on cybersecurity and cyberattacks are overwhelming:

  • According to the FBI, cybercriminals are expected to collect over $1 billion in ransoms this year.
  • More than 4,000 ransomware attacks have occurred every day since the beginning of 2016.
  • The average cost of a security breach is $4 million, and that is expected to exceed $150 million by 2020.
  • 44 percent of businesses estimate they could lose $10,000 or more during just one hour of downtime.
  • Cybercrime will cost businesses over $6 trillion by 2021.
  • Global cybersecurity spending was just $3.5 billion in 2004. This year it is expected to be $120 billion, and by 2021, spending on cybersecurity is expected to reach $1 trillion.