MSP Update: XDR or MDR? Plus DLP Reveal Platform Tackles Insider Threats

MSSP Alert’s affiliate publication ChannelE2E covers a host of topics for MSPs including cybersecurity, AI advances for service providers, MSP tools, M&A and more. Each week we wrap up some of the best content from ChannelE2E for our MSSP Alert readers.

This week we take deeper look into MDR and XDR. Do service providers need one or the other or both? Plus we take a look at data loss protection and how it is impacted by insider threats.

We’ve also got another entry in our series of profiles about platform MSPs – those big MSPs that acquire other MSPs. And at ChannelE2E our Top 100 Vertical Market MSP survey is now open! Here’s our roundup for the week.

Cybersecurity Tech: Do MSPs Need XDR, or is MDR Enough?

Managed detection and response (MDR) has been a standard MSSP and MSP cybersecurity offering for years to help business customers fight cyberattacks, but a broader version of the protections, extended detection and response (XDR), has been growing in popularity in the marketplace.

And as that trend continues, MSSPs and MSPs that are only offering MDR services should be evaluating whether it is time for them to move quickly into offering XDR as well to improve cybersecurity protections for their customers while boosting their own sales revenue.

“The standard cybersecurity offering has been MDR, but now it seems like more [vendors] are introducing XDR,” Rob Enderle, principal analyst at Enderle Group, said. ”[XDR] is more attractive to [customers] that have existing security infrastructure, and these firms are generally better funded so it [can be] a large part of the available revenue stream” for MSSPs and MSPs in the future.

It is a top strategic concern for MSSPs and MSPs today, said Enderle. “Without XDR, they are not just leaving money on the table, they are cutting themselves off from the most potentially lucrative customers, those that can better fund security [spending]. Every moment they wait they are giving up share and revenue to someone else and it is unlikely they will be able to recover that revenue in the future as customers do not switch security vendors lightly.”

Read the complete story here.

Next DLP’s Reveal Platform Tackles Insider Threats

Data breaches caused by insiders are on the rise—both in terms of frequency and their cost to the business. In fact, data losses from insider-driven events are expected to pile up in 2024, with a single event potentially costing as much as $15 million, according to reports.

The problem has become so severe that MITRE has developed an Insider Threat Knowledge Base (ITKB) through its MITRE Engenuity Center for Threat-Informed Defense. An insider is typically defined as an individual with legitimate access to company assets who causes harm to the business—whether intentionally or unintentionally. Threats could come from current employees, former employees, contractors, or partners who have access (or previously had access) to an organization’s systems or data.

The ITKB offers an evidence-based, multi-organizational and publicly-available compendium of insider threat tactics, techniques and procedures (TTPs) mapped to MITRE ATT&CK. This endeavor was developed in partnership between MITRE Engenuity, Next DLP, CrowdStrike, HCA Healthcare, JPMorgan Chase Bank, Lloyds Banking Group, Microsoft and Verizon Business. 

In early May, data loss prevention and insider threat solutions vendor Next DLP announced that their Reveal Platform is the first insider risk management solution to automatically map detection events to the expanded ITKB.

Read the complete story here.

The Rise of Platform MSPs: Inside New Charter Technologies’ Strategic Approach

ChannelE2E has been exploring the emergence of the platform MSP amid increasing consolidation within the sector. 

These companies have sprung up in recent years, following the promise of recurring revenue and the ongoing demand for adept IT solutions. This has caused what some might call a buying spree within the market in recent years. 

But each of these MSP platforms has its own approach to M&A.

The 20 MSP, for example, brings its member companies into a unified network by updating branding and renaming the entities it acquires. Similarly, Ntiva aligns its acquisitions with its corporate identity through rebranding. On the other hand, Brightworks IT, supported by Cloud Equity Group, allows acquired companies to retain their original names and logos, simply adding the “Brightworks IT” brand. Amid the rapidly evolving landscape of ownership and integration, Evergreen SG takes a different approach by enabling each MSP to keep its brand, team, and operational autonomy, offering a stable, permanent home for these businesses. For its part, Fulcrum IT emphasizes long-term partnerships, strategic alignment, and collaborative innovation.

Adding to this diverse field of platform MSPs is New Charter Technologies, backed by private equity firm Oval Partners and led by CEO Peter Melby. New Charter is an IT services platform built to help managed service providers (MSPs) grow through strategic acquisitions. The company focuses on scaling businesses while maintaining the close relationships and strong cultures that define successful MSPs.

Read the complete story here.

Top Vertical Market MSP Survey Now Open

Many of the most successful managed service provider (MSP) businesses specialize in vertical markets -- perhaps your vertical is healthcare, financial services, retail, government, education, or something else. To honor your success in one or many of these markets, each year ChannelE2E surveys MSPs to identify and promote the top companies in each of these verticals. (Check out past years' lists here.)

We are opening the 2024 survey today. Here's the link to participate.

When ranked in our Top 100 Vertical Market MSPs list you get the following benefits:

Don't delay. Help us showcase your success and hard work as an MSP. Our survey deadline is July 26. The 2024 list will debut in Q3. Here's the link to participate today.

Read the complete story here.