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5 Ways to Improve Your MSP Service Level Agreement (SLA)

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5 Ways to Improve Your MSP Service Level Agreements (SLAs)

SLAs are the foundation of your MSP business. They are essential to building strong client relationships and must be clear, reasonable and well-constructed.

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How Dwell Time Can Impact Profitability [CHART]

Posted March 16, 2018by Lily Teplow

How Dwell Time Can Impact Profitability

Did you know that the faster a cyber attack can be identified and contained, the lower the costs and damage? Dwell time, or the number of days a threat remains undetected within a given environment, can have significant impact on a company’s profitability. The more dwell time, the higher the rate of success for a cyber attack and the higher the costs associated with that attack. 

This is especially concerning for small- to medium-sized businesses (SMBs) who don’t have the proper cyber defenses in place to identify or contain today’s persistent threats—but partnering with an MSP or MSSP like you may be the answer. According to a study by Ponemon Institute, there’s a notable relationship between how quickly an organization can identify and contain a cyber threat, and the financial consequences. So, to help you sell clients and prospects on the value of IT security, we pulled compelling data from this study that you can use in your own sales presentations. See the chart below:

Chart - How IT Dwell Time Can Impact Profitability

Want to use this chart right away? Click here to download a customizable version!

Talking Points:

When presenting, here are some talking points you can use to speak to the data in this chart and tie it to the value that managed security services can bring. 

Failing to quickly identify a cyber threat increases costs.

Per the Ponemon Institute study, the mean time to identify a cyber threat falls at 191 days. This means that if you’re like the average company, the estimated cost of a security incident could be 36 percent more than if the threat was caught within 100 days.

By failing to quickly identify cyber threats, costs are driven upwards. However, by partnering with an MSP (or MSSP) for managed security services, you’ll have access to tools that have heighten threat monitoring and detection capabilities, which can help you significantly reduce the costs of a security incident.

The longer it takes to contain a breach, the more expensive it will be.

Similarly, failing to contain a security breach can lead to higher costs because it allows the threat to cause more and more damage. For the average company, it takes about 66 days to contain a security breach—which is 33 percent costlier than if the threat were contained within 30 days.

However, these costs can be reduced with the help of managed security. Our solution can equip you with the tools and processes you need to quickly remediate threats before they can cause significant damage.

Without these services, it may take your business more than 100 days to identify a real threat, or more than 30 days to contain and remediate that threat—causing costs to fall into the higher, more expensive brackets. But with these security services, you can reduce your business’ risk and have complete peace of mind that we’ll have your IT security needs covered.

 

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Lily is a Content Marketing Manager at Continuum and is passionate about helping businesses solve their biggest challenges. She is responsible for managing Continuum’s MSPblog and writing on a variety of topics, from sales and marketing to cybersecurity, helping establish authority in the MSP market. Lily is also a seasoned content creator and has supported Continuum’s PR and media efforts. In her spare time, Lily enjoys singing, traveling the world, and cheering on her favorite Boston sports teams!

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