Data privacy remains a major concern in the digital age —especially when it involves the open communication channels of the Internet. As such, more and more business owners and organization heads are making it a priority to seek a reliable service provider that reduces the risks of data breaches.

Here’s how a great Managed Service Provider can help your business keep its data more secure and protected from ever-increasing cyberthreats:

What is a Managed Service Provider (MSP)?

Running a business or organization requires multiple levels of operation and processes. This can be extremely taxing if an entity has a shortage of manpower or the necessary skills required for optimal productivity.

This is where an MSP would come in handy. An MSP is a set of professional services offered by a third-party company, which in turn, optimizes the functions and operations of their clients’ businesses. An MSP is usually run by specialists with many years of experience in their respective fields.

Data privacy is one vital aspect of running a modern business and may be outsourced to an MSP to offer business owners peace of mind. Hiring MSPs will help reduce the risks of malicious attacks from hackers—including ransomware, phishing attacks, and more—which lead to costly data breaches and compromised confidential information.

The Rising Concerns of Data Leaks

In 2017, the Royal Free NHS Foundation, the public healthcare provider of Britain, was discovered to have illegally leaked 1.6 million patient records to a Google firm, an A.I. company named DeepMind during a medical trial.

According to a report by the Telegraph, the trial was originally planned to detect and report the health conditions of patients through an application called Stream. However, the Royal Free administrators of the project had not acquire explicit consent from patients with regard to having their private information shared with DeepMind.

Carpooling giant Uber was embroiled in a similar cybersecurity crisis back in 2016 when hackers gained access to Uber’s GitHub account and AWS data, to acquire the personal information of an estimated 57 million passengers & drivers.

Perhaps the worst part of the case was that Uber only revealed the breach to the public a year after the incident (which counts as another violation of consumer rights). Additionally, the company decided to pay the hackers to resolve the issue by destroying the compromised data, under Uber’s “bug bounty”program.

Data breaches are extremely costly problems for companies, not to mention they cause irreparable damage to consumer trust. According to research by IBM, a breach can cost an average of 3.9 million USD in 2019, while the healthcare sector remains the most vulnerable sector in the mix.

Without a professionally strategized, robust cybersecurity plan to help keep data secure, companies risk thousands of dollars and client loyalty in the event of a data breach. Some companies don’t even realize that their practices or procedures are in violation of cybersecurity laws and regulations, which is why MSPs can be vital in helping businesses create an appropriate defense against cybersecurity catastrophes like the ones mentioned.

The Benefits of an MSP

A Managed Service Provider has top notch digital experts who work with the most advanced tools in the industry for effective data security. MSPs can guide or support your business through sensitive client-consumer agreements to ensure that all points are clearly laid down to avoid misunderstandings and accidental violation of privacy. This establishes a secure and trust-driven relationship between the organization and its clients.

MSPs offer a comprehensive range of professional services, which include the following:

  • Managing a layered security architecture that effectively evaluates end-to-end users and administrative rights/privileges. This ensures that only authorized parties are enabled access to confidential information.
  • Setting anonymizers/proxy servers in place to ensure that your confidential data remains safeguarded through open net connections.
  • Developing incident report procedures, which enable quicker response rates when future issues occur.
  • Providing effective hosting options, such as a private cloud or hyper-converged structure, which maintains a tight surveillance on data storage, computation, and visualization within a single integrated platform.
  • Reliable endpoint management, which ensures that all connected devices within an organization are kept strictly monitored and maintained under safety protocols.

Network Providence is a specialized provider of MSP solutions that has worked with businesses across several industries. We are dedicated to providing your company with the most suitable IT support to maximize the security of your data and efficiency of your business operations. We cover a wide range of expert services through risk assessment, fire-wall/router management, and more.

Contact our specialists at Network Providence today to learn more or schedule a service.